Vale targets 320-335 Mt iron ore production in 2022 Company,  Production & Sales,  Iron Ore 2022-05-17 10:06:39

Brazilian miner Vale targets to produce 320-335 million tonnes of iron ore in 2022 despite weaker production in the first quarter, Sima Sheng, executive vice president of Vale's iron ore business, said in a video meeting with Luo Tiejun, vice president of China Iron and Steel Association, on May 13.

Vale's iron ore production dropped in the first quarter due to heavy rainfalls but started to rebound in the second quarter, and will accelerate in the second half of the year to meet the target, Sima Sheng said.

The company has been restoring 100 million tonnes of annual production capacity and launched many new projects to deliver its medium-term output goal of 400 million tonnes, he said.

Raw steel-making material prices, which had been boosted by strong expectations before the spread of the epidemic, retreated due to weak demand and government measures to stabilize supply amid the recovery of logistics and industrial supply chain, Luo Tiejun said during the conference.

China will continue to reduce crude steel output this year, which is expected to further promote the return of raw material prices to rationality, Luo said.

(Writing by Emma Yang  Editing by Tammy Yang)
For any questions, please contact us by or +86-351-7219322.

Share this article
Connect with us

Editor's Pick

1 Higher power demand bolsters thermal coal prices in China 2022-06-29

China's thermal coal prices rose modestly on June 29 fueled by improving demand as hotter weather has spurred power demand across the country. Following the unprecedented heatwave that hi

2 China's coking coal awaits direction amid coke price cut brake 2022-06-29

China's coking coal market awaits direction with mixed price trends emerging alongside fading voices on the second round of coke price cuts. More coking coal auctions started to fetch results after pr

3 China Coal Daily Track (Jun 29) 2022-06-29

Thermal coal Production area Insufficient coal sales quotas curbed production at some mines and further compounded coal supply for spot buyers, as large state-run mines maintained steady shipme

4 Supply Boost | China nods to add a coal mine in Inner Mongolia as shortage bites 2022-06-29

China's energy bureau gave nod to construction of a new coal mine in Inner Mongolia after several mines were allowed to expand capacity, in a move to boost coal supply and bring down fuel costs for po

5 Thermal coal stocks at mines remain low amid emerging spot inquires 2022-06-29

Thermal coal stocks remained low at Chinese main production areas as most state-run miners continued shipment to contracted power utilities, while small- and medium-sized miners also received increase

6 Indonesia plans to form agency to collect compensations for domestic coal users 2022-06-29

The Ministry of Energy and Mineral Resources (ESDM) is on course to set up a coal special entity or public service agency (BLU) in July to collect fees for domestic power plants owned by state-owned g

7 China futures market updates at close (Jun 29) 2022-06-29

Check out latest updates on the Chinese futures market for thermal coal, coking coal, coke and others at close.

8 China Jun PCI coal market: prices in inverted V trend 2022-06-29

China's PCI coal prices lacked strength at the start of June as mills maintained lukewarm purchases due to thin profit. Mills' purchase appetite slightly picked up after the Dragon Boat Festival backe

9 China's energy supply capacity has increased significantly, NDRC 2022-06-29

China's energy self-supply capacity has improved significantly in recent years, introduced by Zhao Chenxin, deputy director of the National Development and Reform Commission at a press briefing on Jun

10 Summer Peak | Chinese power providers appeal for lower coal costs to ensure supply 2022-06-29

Chinese coal-based utilities called on the government to help ease their operation pressure as high coal prices have made them struggle to make ends meet, according to an industry conference chaired b

Most Read Articles

1 Indonesia has no plans to boost coal production despite more demand 2022-06-23

Indonesia has no plans to enhance its coal output despite Europe's interest in purchasing from the archipelago as an alternative to Russia, according to a government official. "There is n

2 Mongolia asks Gashuunsukhait to pilot unmanned coal transport, eyeing 10 Mt export increase 2022-06-23

The Mongolian Prime Minister required related departments to initiate the pilot test for unmanned cross-border coal delivery at Gashuunsukhait/Ganqimaodu before July 5, according to report from the co

3 What's behind recent price declines in China's thermal coal market? 2022-06-23

China's thermal coal prices are falling at a time when the heatwave drives up coal consumption to power more air conditioners at homes and businesses. Why does the downward correction take place?

4 Review: China imports near 80% of coking coal from Mongolia and Russia in May with zero tariffs 2022-06-23

China's coking coal imports climbed for the third straight month in May. Shipments from Mongolia and Russia accounted for near 80% of the total imports during the first month that the zero-tariff poli

5 Indonesian thermal coal prices face downside pressure amid poor demand 2022-06-24

Indonesian thermal coal prices are under downside pressure as the market was muted with a lack of bids and offers after the Chinese domestic market started falling from the beginning of this week.

6 China accelerates release of advanced coal mining capacity 2022-06-23

China has accelerated the releasement of advanced coal capacity since Premier Li Keqiang announced the plan to ensure energy supply in mid-May. Premier Li also stressed on June 21 for inc

7 Mongolian coal exports surge last week 2022-06-28

Mongolia exported 583,200 tonnes of coal during June 17-23, surging 300.2% compared with the preceding year, the Ministry of Mining and Heavy Industry said on June 27. During the given pe

8 China Coal Daily Track (Jun 24) 2022-06-24

Thermal coal Production area Downstream users still sat on the sidelines amid softened sentiment, which clearly reduced coal trucks coming to coal mines and drove some miners to undersell cargo

9 Chinese coking coal miners say sales slow as coke output cut intensifies 2022-06-23

Chinese coking coal miners saw orders reduce and inventories pile up as coking plants continued to scale back on purchases amid deepened production cuts and a further deterioration of losses.

10 Price Cap | China's price controls effectively keep thermal coal prices in check 2022-06-24

For a long time, China's thermal coal prices have been flying high while coal-fired electricity prices have been largely unchanged. Utilities, holding the responsibility to power millions of homes and