Brazil Vale sees 2013 iron ore demand coming from emerging markets

Tue Jan 29, 2013 12:22pm EST
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RIO DE JANEIRO Jan 29 (Reuters) - Demand for iron ore, the main revenue generator for Vale , will come from emerging markets, particularly China, the Brazilian miner's head of investor relations, Roberto Castello-Branco, said on Tuesday.

The company expects industrial production - an indication of demand for steel and its main component iron ore - to grow by about 7 percent in emerging markets in 2013 but remain flat in developed countries.

Castello-Branco added that iron ore stocks in China, the world's largest importer of ore, remained low.