Vale sees global sea-borne iron ore market growing - executive
STOCKHOLM, June 25 (Reuters) - Mining company Vale sees the global sea-borne iron ore market growing to 1.81 billion tonnes by 2020 from 1.23 billion tonnes last year, Fidel Blanco, Vale's managing director of Europe and North America iron ore sales, said on Wednesday.
"We see iron ore sea-borne capacity increasing to 1.8 billion tonnes by 2020," Blanco told the Metal Bulletin 20th international iron ore symposium in Stockholm.
"We have taken into account projects from high cost producers that probably will not materialise because of what's happening to iron ore prices."
(Reporting by Maytaal Angel; editing by Susan Thomas)
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