U.S. Markets open in 8 hrs 57 mins

Vale cash cost of iron ore fell to about $22 a tonne -CEO

RIO DE JANEIRO, Nov 7 (Reuters) - Brazilian mining company Vale SA said on Thursday its cash cost of iron ore after royalty payments fell to about $22 a tonne, a level it considers "competitive."

Iron ore in the Chinese spot market fell 0.15 percent to $136.90 a tonne on Thursday, slipping from Wednesday's two-month high, according to Steel Intelligence.