https://www.miningweekly.com
Copper|Iron Ore
Copper|Iron Ore
copper|iron-ore

Lower iron, nickel and copper prices weigh on Vale's quarterly earnings

25th April 2024

By: Reuters

  

Font size: - +

SAO PAULO/RIO DE JANEIRO - Brazilian miner Vale on Wednesday said lower prices for iron-ore, nickel and copper in the first quarter dragged down earnings compared to the year before, as it posted net profit slightly below analyst estimates.

Vale, the world's no.2 producer of iron-ore, posted a $1.7-billion net profit for the quarter ended in March, 9% lower than the year-earlier period, while analysts polled by LSEG were expecting $1.9-billion.

Vale last week reported first-quarter output and sales figures, registering lower nickel production even as iron ore and copper production rose.

Higher sales volumes of iron-ore and copper helped offset the dip in prices in the metals, Vale said on Wednesday.

The average realized price of copper was 19% lower than in the same period last year, while nickel was down 33%. Vale said iron-ore fines realized prices were also lower from last year.

Vale's adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) fell 7% in the quarter from a year earlier to $3.44-billion, below analysts' estimate of $3.66-billion.

Edited by Reuters

Comments

Showroom

Showroom image
Alcohol Breathalysers

Supplier & Distributor of the Widest Range of Accurate & Easy-to-Use Alcohol Breathalysers

VISIT SHOWROOM 
Universal Storage Systems (SA)
Universal Storage Systems (SA)

South African leader in Steel -Racking, -Shelving, and -Mezzanine flooring. Universal has innovated an approach which encompasses conceptualising,...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Photo of Martin Creamer
On The Air (19/07/2024)
19th July 2024 By: Martin Creamer

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:0.193 0.233s - 127pq - 2rq
1:
1: United States
Subscribe Now
2: United States
2: