Vale expects increased adjusted EBITDA in H2

Brazilian miner and iron ore producer Vale expects adjusted EBITDA in H2 to reach between $4.5-$5.4 billion, the company said on Wednesday at a commodities conference in São Paulo.

 

According to Vale, H2’s adjusted EBITDA forecast indicates an increase from the $4.4 billion adjusted EBITDA it reported on H1.

 

In a presentation to investors and analysts, Vale said the most recent view for both the supply and demand for iron ore “indicates a maintenance of the current balance.”

 

As for 2017, Vale expects Brazil to add some 28 million mt of the commodity to the seaborne market, as opposed to 18 million mt from Australia. Total iron ore supplies to the seaborne market in 2017 should total 48 million mt, Vale estimated.