The Brazilian miner Vale produced 80.598 million mt of iron ore fines in the second quarter of 2024, 2.4 percent more than in the second quarter of 2023, while the production of pellets declined in the period by 2.4 percent to 8.895 million mt.
Under the same comparative basis, iron ore fines sales increased by 8.2 percent to 68.512 million mt, pellets sales increased by 0.6 percent to 8.864 million mt and run-off-mine (ROM) grade iron ore sales increased by 8.1 percent to 2.416 million mt, while the average sales price of the iron ore fines declined by 0.3 percent to $98.2/mt, declining by 2.0 percent to $157.2/mt for pellets.
According to the company, the increased production reflects chiefly a record for a second quarter at S11D, in the north of the country.
The company maintains for 2024 the guidance of producing iron ore fines in a volume range of 310 to 320 million mt, and 38 to 42 million mt for pellets, in both cases with expectations of reaching the upper side of the range.
Compared to the first quarter, the iron ore production increased by 13.8 percent, the pellets production increased by 5.1 percent, iron ore fines sales increased by 30.4 percent, pellets sales declined by 3.9 percent and ROM sales increased by 17.5 percent.
