Brazilian miner Vale posted a net profit of $4.46 billion for the third quarter of 2022, against $4.09 billion for the previous quarter and $5.45 billion in the third quarter of 2021.
On the operational side, net sales revenues in Q3 2022 reached $9.93 billion, against 11.16 billion in Q2 2022 and $12.3 billion in Q3 2021.
According to the company, the lower operational performance reflects chiefly reduced iron ore prices, with an estimated negative impact of $1.73 billion from Q2 2022 to Q3 2022, while the positive impact of the higher volumes sold was limited to $114 million.
The realized prices of iron ore fines during Q3 2022 was $92.6/mt, against $113.3/mt in Q2 2022 and $127.2/mt in Q3 2022. For pellets, the prices were respectively $194.3/mt, $201/mt and $249/mt, all FOB conditions.