Vale, the world's largest iron ore exporter, will offer a new product -- Sinter Feed Low Alumina -- on the spot market this year, a company official said at a major iron ore conference in Singapore Thursday.
Sinter Feed Low Alumina, or SFLA will be one of the lowest alumina content traded ores and this is a good fit given the reduced availability of Chinese domestic concentrates, said Luiz Meriz, Vale's International S.A. Marketing Director, Iron Ore.
A company source said this new product will have iron content of around 62% and come from the southern system in Brazil.
"The alumina content of this product will be slightly below 1% and the silica is around 7%. It will be offered by end June, and will be sold on a spot basis," said the source.
The same source added this new product will be first sold to China, the world largest steel producer, and could gradually be sold to other end-users in other part of the world.
"The Japanese buyers are looking for low alumina ores," said the source.
