Seaborne iron ore market to get additional 60mln tonnes of supply in 2021, Vale says

Brazil-based miner Vale predicts 60 million tonnes of iron ore supply will be added to the seaborne market in 2021, with it being one of the main contributors to that volume, ferrous director Marcello Spinelli said on Tuesday April 27.

Brazil alone will account for around 40 million tonnes of that production growth, Spinelli said.
Iran, which was heavily pressured in 2020, will probably supply more iron ore this year, with Australia also expected to have "marginally higher" volumes, he said.
Vale's full-year 2021 guidance for iron ore output is 315-335 million tonnes, and the company is confident it will deliver those numbers, Spinelli said. Previously closed operations like Vargem Grande, Fábrica, Brucutu and Itabira are expected to resume activities throughout the year.

The iron ore producer plans to add 10 million tonnes per year to capacity at Vargem Grande, in the southeastern state of Minas Gerais and part of its Southern System of operations. Ramp-up of its new conveyor...

Published

Renato Rostás

April 27, 2021

20:28 GMT

São Paulo