Vale lifts iron ore production guidance for 2024
The miner's iron ore output during the first half of this year totalled 151.4 million tonnes, logging an increase of 4.1% on year, as reported. The robust performance had reinforced Vale's confidence and commitment to meet the top end of its prior 2024 guidance, the company said at its second quarter earnings call.
The latest increase in Vale's annual iron ore output target could add to the supply surplus of the steelmaking material in the global market, while steel mills' demand for the feed ore has slowed down in China, the world's top iron-ore consumer, some market pundits expressed their concerns.
Meanwhile, Vale lowered its guidance for nickel output in 2024 to 153,000-168,000 tonnes, compared with a previous range of 160,000-175,000 tonnes, the release said.
Written by Irene Zhuang, zhuangailing@mysteel.com
Edited by Alyssa Ren, rentingting@mysteel.com
Vale kicks off wet processing operations at Vargem Grande 1 Project
Sep 12, 2024 16:15
Lifezone Metals gains U.S. endorsement for Tanzanian nickel project
Aug 28, 2024 14:40
Max Resource to complete Brazilian Iron Ore Property acquisition
Aug 21, 2024 14:40
Glencore's H1 nickel output falls 5% YoY, '24 guidance stays
Aug 05, 2024 16:30
Vale posts stronger iron ore output, sales in Q2
Jul 17, 2024 11:40
Mysteel Iron Ore Index
Sep 17, 2024 18:36
Mysteel Iron Ore Index
Sep 16, 2024 18:52
Mysteel Iron Ore Index
Sep 14, 2024 18:33
Imported iron ore prices: China's major cities
Sep 14, 2024 17:52
Iron ore portside prices: Qingdao port
Sep 14, 2024 17:44