Vale's iron ore production increased

The Brazilian company Vale SA published a report from which it follows that its iron ore production in the third quarter of 2023 amounted to 86.23 million tons, an increase of 9.5% compared to the previous quarter, but a decrease of 3.9% compared to compared to the third quarter of 2022.

Meanwhile, in the quarter under review, the company's iron ore pellet production stood at 9.18 million tonnes, up 0.7% on a quarterly basis and also up 11.1% on an annual basis.

In July-September, Vale's iron ore sales stood at 69.71 million tonnes, up 6.6% on a quarterly basis and also up 10.1% on an annual basis. In turn, iron ore pellet sales for the same months were at 8.61 million tons, up 1.1% on a quarterly basis but down 2.2% on an annual basis.

Average export prices for Brazilian iron ore in the third quarter of this year were $105.1 per tonne FOB, up 6.7%, and iron ore pellets at $161.2 per tonne FOB, up 0.5%, both compared with the previous quarter.