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Mitsui CEO says many factors to support iron prices in near term

Kitco News

TOKYO, April 30 (Reuters) - Japanese trading house Mitsui & Co Ltd expects several factors to support iron ore prices in the near term, its chief executive said on Friday.

"But it is reasonable to assume iron ore prices will eventually return to their historical levels," Mitsui Chief Executive Officer Kenichi Hori told an earnings news conference. On Total's Mozambique liquefied natural gas project in which Mitsui owns a stake, Hori said the Japanese company was closely monitoring security situation after the French energy group declared force majeure on the project earlier this week following insurgent attacks.

(Reporting by Yuka Obayashi; Editing by Himani Sarkar)

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