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Vale Aims to Go Down-Market on Iron Ore

(Bloomberg) -- Vale SA plans to offer more lower quality iron ore to adapt to the needs of a battered steel industry as it moves beyond being just a supplier of high-grade steelmaking material.Most Read from BloombergAs Wars Rage, Cities Face a Dark New Era of Urban DestructionRiyadh Metro Partially Opens in Bid to Ease City’s Traffic JamsChief Executive Officer Gustavo Pimenta laid the groundwork for his strategy Tuesday at an investors event in New York, arguing that the Rio de Janeiro-based c

Fed policymakers steer clear of December rate-cut guidance

U.S. central bankers on Tuesday said they continue to believe inflation is heading down to their 2% target and signaled support for further interest rate cuts ahead, but none pushed strongly for or against doing so when they next meet to set rates in two weeks. "We have to continue to recalibrate policy - now, whether it will be in December or sometime later, that's a question we'll have a chance to debate and discuss in our next meeting," San Francisco Fed President Mary Daly said on Fox Business Network. Speaking at a Crain's "Power Lunch," Chicago Fed President Austan Goolsbee similarly gave little away on his view of the likely outcome of the central bank's upcoming Dec. 17-18 meeting.