RIO DE JANEIRO, BRAZIL - Iron ore's sudden devaluation is an irrational trend, and the best for companies is to "watch the commodity's fluctuation from the sidelines," without "joining the game," says the Anglo American's CEO in Brazil Wilfred Bruijn, aka Bill.
He acknowledges that the instability generates uncertainty about the price to be released by companies in the 2022 budget.
Last week, the spot price of ore with 62% iron content for delivery in China, the reference product, accumulated losses of US$30 from Tuesday through Thursday, trading at its lowest value in six months. On Friday . . .