Vale’s iron ore production during the third quarter of 2022 increased by 21 percent from the previous quarter to 89.7 million mt, reflecting the higher productivity derived from the dry season in its northern system and higher third-party ore purchases and production in the southern system.
Under the same comparative basis, sales of iron ore fines and pellets increased by 6.0 percent to 77.6 million mt.
According to the company, the production-to-sales gap in Q3 resulted from transiting inventories across the supply chain, which Vale expects to revert in the next quarter, depending on market conditions.
Due to portfolio optimization and market conditions, Vale gave priority to the production of direct reduction grade pellets in the Oman plants.
During Q3, Vale produced 89.701 million mt of iron ore (pellets excluded) and 8.256 million mt of pellets, against respectively 74.108 million mt and 8.672 million mt during Q2.