Moody's puts Brazil miner Vale under review for downgrade

viernes 22 de enero de 2016 06:04 GYT

SAO PAULO Jan 22 (Reuters) - Moody's placed the credit ratings of Brazilian iron ore miner Vale SA under review for downgrade on Friday, one day after it put nine mining companies in Latin America on review for downgrade due to low metals prices.

Moody's said slowing growth in the Chinese economy, which consumes half the world's base metals and is a player in precious metals, iron ore and coal markets is weakening demand and prices for the commodities.

Prices for Chinese-landed iron ore .IO62-CNI=SI, which makes up the bulk of Vale's revenue, are trading around their lowest levels in nearly a decade.

See the full report from Moody's: (here) (Reporting by Reese Ewing; editing by Jason Neely)