off-the-wire

Samarco sees pellet market under pressure, but eyes recovery

Kitco Media
By Reuters
Published:
Updated:
Reuters
Samarco sees pellet market under pressure, but eyes recovery teaser image

Brazilian miner Samarco sees the global iron ore pellet market “under significant pressure” due to geopolitical issues, but the long-term outlook is for a recovery in prices and increased demand for high-quality products, CEO Rodrigo Vilela said.

“Samarco believes in the fundamentals for pellet use, especially in our case, as we produce a high-quality pellet that is mostly used in reactors for direct reduction,” Vilela told Reuters on the sidelines of an event late on Tuesday.

(By Marta Nogueira and Isabel Teles; Editing by Gabriel Araujo)

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