Mining Giant Vale Says China Property Outlook Is More Encouraging

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The performance of the world’s biggest miners is intrinsically linked to demand for commodities in China, and iron ore is particularly exposed to shifts in the property sector. Photo: Bloomberg

(Bloomberg) — No. 2 iron ore miner Vale SA said the outlook for China’s steel-intensive property sector is “more encouraging” despite uncertainties, and reiterated its long-term view of the global steel market remains intact.

Vale sees reasons to be positive about the outlook for steel demand in spite of challenges facing its top customer, according to an investor presentation delivered by iron ore vice-president Marcello Spinelli and posted on the company’s website.