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Global mining giant Vale SA is shifting focus toward India’s expanding steel market as China’s steel output plateaus, according to CEO Eduardo Bartolomeo.
Speaking at a recent industry forum, Bartolomeo noted that Chinese steel production has stagnated, with demand growth flattening due to slowing construction and property investment. In contrast, India’s steel consumption is rising rapidly, driven by infrastructure and manufacturing expansion, creating new opportunities for iron ore suppliers.
Vale plans to increase shipments to India, aligning with the country’s target of reaching 300 million tonnes of annual steel capacity by 2030. The company aims to strengthen its supply partnerships with Indian steelmakers and support cleaner, more efficient steel production through high-grade ore and low-carbon initiatives.
Vale expects India to import around 10 million tonnes of its ore this year, up from almost nothing a few years ago, although China still accounts for roughly 60% of Vale’s sales. Pimenta highlighted that Vale’s high-grade ore blends well with India’s lower-grade domestic material, helping mills improve efficiency and reduce emissions.
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