The higher production comes despite an 18% fall in spot prices of iron ore over the September quarter.

Vale is set to release earnings Oct. 27 after the close of regular trading.

Hoa Phat Group produced over 6 million tonnes of crude steel in the first nine months of the year, matching its output from last year.

Multiple producers have faced that tough choice in recent months.

“Parties are still engaging,” Transnet spokeswoman Ayanda Shezi said in a reply to questions.

“Parties are still engaging,” Transnet spokeswoman Ayanda Shezi said in a reply to questions.

Increased light vehicle production through the second half of 2022 over the first half of the year will increase availability for prime steel scrap.

“Parties are still engaging,” Transnet spokeswoman Ayanda Shezi said in a reply to questions.