Global EditionASIA 中文雙語Fran?ais
    Business
    Home / Business / Companies

    Brazil's Vale bullish on conditions in China

    By ZHENG XIN | China Daily | Updated: 2021-02-23 10:21
    Share
    Share - WeChat
    Brazilian mining company Vale SA logo and trading symbol are displayed on a screen at the New York Stock Exchange (NYSE) in New York, US, Dec 6, 2017. [Photo/Agencies]

    Brazilian mining company Vale SA said it will continue investing in China and further expand its presence in the country, which has been witnessing an ever increasing share of the global mining giant's total sales.

    Vale supplied 192 million metric tons of iron ore and pellets to China in 2020, accounting for 67 percent of the company's total sales and surpassing the 61 percent in the same period of 2019, according to Tracy Xie, president of Vale China.

    "China has been the largest market for Vale since 2006 and has become more and more important to Vale in recent years," Xie said.

    The company has supplied China with around 2.6 billion tons of high-quality iron ore products as well as other mineral resources by the end of 2020.

    China, the world's top iron ore importer, imported 1.17 billion tons of the commodity last year, up 9.5 percent on a yearly basis, according to the General Administration of Customs.

    As China pursues cleaner, lower-carbon, safer and more efficient use of energy and accelerates the growth of new energy and green industries to promote greener economic and social development in all respects, Vale said the company will carry out deeper cooperation in the Chinese market.

    The company signed a memorandum of understanding with the Beijing Iron Ore Trading Center during the third China International Import Expo in Shanghai in November.

    Vale will also launch an iron ore spot trading platform on Chinese instant-messaging app WeChat in early 2021 to facilitate yuan-denominated transactions.

    It has also signed a statement of cooperation with Ningbo Zhoushan Port Group in November for the establishment of a joint venture company for the construction and operation of the West III Project at Shulanghu Port, Zhoushan, Zhejiang province.

    Vale will own 50 percent of the joint venture contributing an investment between $109 million and $156 million, the single largest investment in China by Vale.

    "The project secures strategic port capacity for Vale in China and demonstrates our long-term commitment to the Chinese steel industry and market," Xie said.

    She added that the country's internal circulation will boost domestic steel demand with the help of new infrastructure and new urbanization that focuses on city clusters centered around the top cities.

    "Supported by demand from infrastructure, machinery and automobiles to offset the potential slowdown in the property markets, we are positive on China's steel demand in the coming years and expect it to stand at relatively high levels," she said.

    "China is increasingly attractive to global investors as the business environment further improves.

    "It has the largest population and a growing middle-income group who will be a very important consumption force in the near future."

    Xie said the country's pursuit of high-quality development, which is expected to boost industrial upgrading as well as the decarbonization process of its steel industry, will be an important development opportunity for Vale, as high-quality ore products will be more valued.

    Vale has been working hard to ensure the supply of high-quality iron ore to China, and aims to achieve a 400 million tons per year run rate capacity at the end of 2022.The Brazilian company plans to create an over 50 million tons per year capacity buffer in the subsequent years.

    Top
    BACK TO THE TOP
    English
    Copyright 1995 - . All rights reserved. The content (including but not limited to text, photo, multimedia information, etc) published in this site belongs to China Daily Information Co (CDIC). Without written authorization from CDIC, such content shall not be republished or used in any form. Note: Browsers with 1024*768 or higher resolution are suggested for this site.
    License for publishing multimedia online 0108263

    Registration Number: 130349
    FOLLOW US
    CLOSE
     
    无码国内精品久久人妻| 亚洲va中文字幕无码久久不卡 | 中文无码字慕在线观看| 国产成人无码精品久久久免费| 最近免费字幕中文大全| 在线精品自拍无码| 国产在线无码一区二区三区视频 | 大桥久未无码吹潮在线观看| 久久亚洲精精品中文字幕| 久久久久成人精品无码| 精品无码AV无码免费专区| 亚洲AV中文无码字幕色三| 日韩av无码中文无码电影| av区无码字幕中文色| 久久伊人中文无码| 国产AV巨作情欲放纵无码| 无码专区狠狠躁躁天天躁| 亚洲中文字幕无码永久在线| 亚洲日本中文字幕一区二区三区 | 久久午夜福利无码1000合集| 中文字幕视频在线| 久久精品中文闷骚内射| 一区二区三区无码高清| 无码人妻精品一区二区蜜桃AV| 国产精品一区二区久久精品无码| 精品无码一区二区三区爱欲九九| 亚洲av无码精品网站| 无码国产精品一区二区免费模式| 一本加勒比hezyo无码专区| 亚洲AV永久无码精品成人| 亚洲自偷自偷偷色无码中文| 97无码人妻福利免费公开在线视频| 欧美日韩毛片熟妇有码无码| 夜夜添无码一区二区三区| 无码人妻AⅤ一区二区三区 | 蜜桃视频无码区在线观看| 国精品无码A区一区二区| 无码日韩精品一区二区人妻 | 日本乱中文字幕系列观看| 佐佐木明希一区二区中文字幕| 日韩免费码中文在线观看|