Samarco sees pellet market under pressure, but eyes recovery

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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