Vale reiterates its confidence in the Chinese market and claims a "win-win cooperation" with China Mineral Resources Group. Sima Sheng, Executive Vice President of Vale Iron Mine Solutions, said, "China is already leading the global energy transformation. They are producing electric vehicles, batteries, photovoltaic products, and high-quality products, and they need more high-quality sheet metal. This means that the growth in pig iron production will bring about an increase in demand for iron ore."