Vale cuts iron ore quality premium projection for 2023; predicts challenging year for 2024

Brazilian miner Vale has reduced its iron ore quality premium projection for 2023 to $3 per tonne from the previous expectation of $8 per tonne amid demand challenges, company executives said on Tuesday December 5.

“It’s been a challenging year for premiums, and it will be the same next year,” chief financial officer Gustavo Pimenta said. “But in 2026 we expect an evolution,” he added....

Published

Gabriela Brumatti

December 05, 2023

22:45 GMT

São Paulo