Vale-FMG tie-up positive for Chinese market – Hunan Valin chair

March 8, 2016

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China’s Hunan Valin Iron and Steel Group said on Wednesday it supported a proposed tie-up between top iron-ore producers Vale of Brazil and Australia’s Fortescue Metals Group, in which it is a shareholder. “I told them that as shareholders we were in support, and that as customers we would be willing to buy their products,” said company chairman Cao Huiquan, adding that Fortescue had contacted Valin ahead of the announcement.

Category: General