RIO DE JANEIRO, July 31 (Reuters) - Chinese demand for iron ore, the main ingredient in steel, should rise in the second half of 2014, Vale’s head of iron ore, Carlos Martins, said on a conference call with analysts on Thursday.
The company’s CFO Luciano Siani also said Vale maintenance capital expenditure could fall by between 5 and 10 percent this year.
“We are moderately optimistic about the price and we are very optimistic in relation to our ability to gain margin by increasing production and cutting costs through our new projects,” Martins said.
“More and more I think we will be focused less on price and more on our capacity to deliver volumes and reduce costs,” he added. (Reporting by Stephen Eisenhammer and Jeb Blount; Editing by James Dalgleish)