Vale Q3 iron ore output up 18.1% QoQ

sxcoal.com 2021-10-20 16:10:44

Vale S.A. produced 89.42 million tonnes of iron ore in the third quarter, rising 0.8% from the same period of 2020 and 18.1% from the second quarter, mainly due to good weather condition and production recovery, according to its latest report.


Iron ore shipment of Vale was 67.84 million tonnes in the same quarter, up 3.2% year on year and 0.9% from the quarter before.


Iron ore production reached 230 million tonnes in the first three quarters, up 8.0% from the same period of last year, and sales rose 13.0% on the year to 190 million tonnes.


Pellets output was 8.34 million tonnes in the third quarter, down 2.6% from the year before but up 4.1% from the quarter before. Pellets shipments were 8.04 million tonnes in the quarter, down 5.0% on the year but up 5.1% from the quarter before.


Total Pellets production was 22.64 million tonnes in the first three quarters, up 0.3% year on year, and shipments slid 3.4% on the year to 21.96 million tonnes in the quarters.


Vales's production and sales strategy was based on market conditions, prioritizing value over volume, with focus on margin maximization. As consequence, for the fourth quarter this year, Vale should lower its supply of high-silica low-margin products by around 4 million tonnes. This movement does not change its production guidance for the year of 315-335 Mt, but should take it below the middle of the range.


(Writing by Lilya Li  Editing by Tammy Yang)
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