Brazil's Vale sees 70 mln T of iron ore capacity to exit global market in 2016
BEIJING, March 2 (Reuters) - Brazil miner Vale SA expected 70 million tonnes of global iron ore capacity to be shut down this year and another 30 million tonnes of capacity will also be "at risk", a senior company official said on Wednesday.
More Chinese capacity is at risk from low prices, Joao Mendes de Faria, the company's head of China told an industry conference, adding that domestic production capacity fell to 184 million tonnes in 2015 from 335 million tonnes in 2013.
(Reporting by David Stanway; Editing by Michael Perry)
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