The Brazilian miner, Vale, announced it will reduce its production target for iron ore pellets in 2025, from a range of 36 to 48 million mt to 31 to 45 million mt.
The reduction derives from the stoppage of the São Luis plant, in the in the northeastern state of Maranhão, for preventive maintenance, during the third quarter of the year.
According to analysts, the decision reflects lower pellet prices in the international markets, with an estimated decline of 18 percent of the average prices in the first quarter of 2025 in relation to the same period in 2024.
The pellet feed grade iron ore that will not be consumed in the São Luis plant will be sold in the market, optimizing the value generation of Vale’s products portfolio, according to the company.