Vale reduces iron ore pellet output guidance to 43mln tonnes in 2019

Current seaborne market conditions have prompted Vale to cut its iron ore pellet production guidance for 2019 to 43 million tonnes from 45 million tonnes previously, the Brazilian mining company said on Thursday September 26.

This is the second reduction in the company’s iron ore pellet production guidance, following a cut from 60 million tonnes in July.
The guidance for overall iron ore and pellet sales volume in the year, however, was unchanged at 307-332 million tonnes, Vale added. The miner still expects to report full-year figures closer to the midpoint of that range.

“This decision is in line with the margin over volume strategy and...

Published

Renato Rostás

September 26, 2019

16:32 GMT

São Paulo