In a pre-operational discloser, the Brazilian iron ore and pellet producer Samarco announced sales of 3.2 million mt for Q1 2026, 37 percent lower from the previous quarter, although 12 percent more than the 2.8 million mt sold in Q1 2025, considering the combined volumes of iron ore and pellets.
Similarly, production in Q1 2026 declined from Q4 2025 by 3 percent to 3.8 million mt but increased by 18 percent from Q1 2025.
Samarco achieved in Q1 2026 an average pellet price of $130/mt, FOB conditions, 2 percent more than in Q4 2025, but 8 percent less than in Q1 2025.
According to the company, “sales volumes normalized after an exceptionally strong Q4 2025, which benefited from shipment anticipation, resulting in a more balanced shipment profile at the beginning of the year, while still exceeding prior‑year levels”.
Regarding production, the company stated that Q1 2026 output confirmed operation at structurally higher levels, with a slight seasonal decline following a strong Q4 2025.
Samarco, an association of Vale and BHP, is still in a recovery process from the accident at the Fundão Dam in 2015, with returning to full capacity of 26 million mt per year in 2028.
