Vale will be selling on a new platform in China
The Brazilian giant´s trading platform will also be available via WeChat.

Brazilian miner Vale SA said Monday that it plans to launch an iron ore spot trading platform on the Chinese mobile app WeChat with Beijing Iron Ore Trading Center Corporation (COREX) in early 2021 to facilitate transactions in yuan.
Vale said it would be able to streamline and accelerate its spot iron ore sales to China through the WeChat mini-program and that the two companies signed a letter of intent during the China International Import Expo currently held in Shanghai.
China, the world's leading steel producer, consumes more than a billion tons of iron ore per year, an important part of steel production. Rio Tinto, BHP Group and Vale have all started selling iron ore to Chinese mills in yuan as China wanted to increase its influence on pricing. Rio Tinto started a WeChat program for port-side iron ore spot trading in March. Tencent Holdings Ltd. operated WeChat began as a news service and now has more than a billion users worldwide. It's ubiquitous in China, where it's used from paying utility bills to ordering pizzas.
Vale's Chinese press office said it could not give any further details at this time about how the program would work or what information customers could get from it.





