https://www.miningweekly.com
Cutting|Iron Ore|Power|PROJECT|Steel|Contracting
Cutting|Iron Ore|Power|PROJECT|Steel|Contracting
cutting|iron-ore|power|project|steel|contracting

Vale produces less iron than expected in boost to ore recovery

11th February 2022

By: Bloomberg

  

Font size: - +

Vale, the Brazilian firm vying with Rio Tinto Group for the title of top iron ore supplier, delivered less of the steel raw material than expected in a welcome boost to a wavering recovery in prices.

Fourth quarter production came in at 82.5-million metric tons, compared with the 85.6-million-ton average estimate. Vale’s output also fell short of the third quarter and the year ago result.

The Rio de Janeiro-based company’s full-year output came in at the low end of its 315-million to 320-million-ton guidance range. Vale’s ongoing recovery from a 2019 tailings dam disaster makes it a major swing factor on the supply side.

After a bumper third quarter, Vale vowed to defend margins by cutting back on some lower-quality supply amid weaker prices as China limited steel output to contain pollution and power use. Bloomberg Intelligence sees global iron-ore supply contracting this year after growing in 2021 as producers emphasize value over volume.

Vale kept its 2022 projection of 320-million to 335-million tons despite rain interruptions last month. The production gap with Rio Tinto has all but disappeared as Vale recovers from the dam collapse and after Rio was hit with rain disruptions, the fallout from a cultural heritage fiasco and project delays.

 

Edited by Bloomberg

Comments

Showroom

Goodwin Submersible Pumps Africa (Pty) Ltd
Goodwin Submersible Pumps Africa (Pty) Ltd

Goodwin Submersible Pumps Africa is sole distributors for Goodwin electrically driven, submersible, abrasion resistance slurry pumps.

VISIT SHOWROOM 
Weir Minerals Africa and Middle East
Weir Minerals Africa and Middle East

Weir Minerals Europe, Middle East and Africa is a global supplier of excellent minerals solutions, including pumps, valves, hydrocyclones,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 03 May 2024
Magazine round up | 03 May 2024
3rd May 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.148 0.186s - 103pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: