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Vale plans to increase iron ore sales outside China

Japan, Europe, India and Southeast Asia are stated as the main target destinations.

Vale plans to increase iron ore sales outside China

Speaking at a conference on Brazilian mining company Vale's 2023 performance, Marcelo Spinelli, the company's vice president of iron ore solutions, noted that the company has plans to increase sales to regions outside of China.

Japan, Europe, India and Southeast Asia are stated as the main target destinations. Spinelli stated that the iron ore market is currently tight, demand is rising and supply is shrinking, as supply from Australia is stable and India is focused on its own domestic market, while Brazil is the only alternative to increase supply.

In 2023, Brazil exported 353.13 million tons of iron ore, excluding pellets, of which 259.38 million tons were destined for China.

Pellet exports in 2023 amounted to 25 million tons, of which 680.8 thousand tons were destined for China.

Spinelli noted that there are prospects for an increase in the cost of pellets due to higher demand from the Middle East and the United States, while in Japan and Europe, he sees the potential for a recovery in demand.


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