Brazil: Vale’s iron ore output at 89.42 mn t in Q3 CY’21

Vale has reported iron ore output at 89.42 mn t in Q3 CY’21, up 1% on the year.

• Pellet output expected to fall to 8.3 mn t as against 8.6 mn t in Q3 CY’20.
• Total iron ore fines and pellet sales at 75.9 mn t for Q3.
• Vale’s production guidance intact at 315-335 mn t 2021, but output likely to fall to lower half of target range.