Vale posts record 4Q 2020 iron ore sales to China

  • Sunday, February 07, 2021
  • Source:ferro-alloys.com

  • Keywords:Vale, iron ore sales, China
[Fellow]Brazilian mining firm Vale said it expects to achieve iron ore production capacity of 350mn t/yr this year, up by 8.7pc from a year earlier.

[Ferro-Alloys.com

Brazilian mining firm Vale said it expects to achieve iron ore production capacity of 350mn t/yr this year, up by 8.7pc from a year earlier.
 
It produced 300.4mn t in 2020, down by 0.5pc from the previous year with the return of halted operations at Vargem Grande, Timbopeba and Alegria and the S11D ramp-up offset by constraints in tailings disposal at its Itabira and Brucutu operations.
 
Iron ore sales were 254.8mn t in 2020, down by 5.4pc. Vale's production and sales were up by 7.9pc and 6.3pc respectively in last year's final quarter. Sales to China hit a record 64mn t during October-December, up by 10.3pc. Brazil's iron ore shipments fell to a seven-year low last year, although exports to China rose by 14pc to a record 247mn t.
 
Vale expects to bring back 17mn t of capacity at its Brucutu operations in this year's fourth quarter, which will account for nearly 35pc of its total capacity resumption.
 
The company in last year's final quarter recorded a 24.4pc drop from a year earlier in its pellet production to 7.1mn t. Vale restarted 7mn t of pellet operations last month but said that lower pellet feed availability from its operations remains a bottleneck in output.
 
Seaborne iron ore prices hit a record high in December 2020, rising further last month because of tighter supplies. Prices have corrected this week, partly on increasing shipments from Brazil, although the first quarter is seasonally a weaker period for shipments from the country because of its rainy season.
 
Source: Argusmedia
 

 

  • [Editor:kangmingfei]

Tell Us What You Think

please login!   login   register
Please be logged in to comment!