Tuesday, October 19,
Vale SA, the world’s biggest iron- ore producer, boosted third-quarter output by 24 percent because of rising demand and higher output at its largest mine.
Vale produced 82.6 million tons of the steelmaking raw materials in the three months through Sept. 30, the highest since record output of 85.8 million tons in the third quarter of 2008.
Similarly, Rio Tinto Group had also declared its third-quarter Iron ore output which rose to a record high. Production expanded to 47.6 million metric tons in the three months ended Sept. 30, from 47 million tons a year earlier.
“It’s all about Iron ore, the operations are running well and it was a very solid quarter,” said, Olivia Ker, an analyst at UBS AG in London.
Source: Bloomberg
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