Vale increased its iron ore production by 3% y/y in Q1

Brazilian mining company Vale increased its iron ore production by 3% year-over-year in the first quarter of this year, reaching 69.7 million tons, according to the company’s report.

Pellet production for the period reached 8.2 million tons (+13.7% year-on-year) thanks to improved productivity at the Tubarao facilities.

In the first quarter, the company increased iron ore sales by 4% year-on-year – to 68.7 million tons, in line with higher production volumes. The company’s average iron ore selling price for the period rose by 5.5% year-on-year – to $95.8/ton.

According to Vale’s statement, the iron ore segment demonstrated growth during the period due to the commissioning of new assets. Sales reached their highest level for the first quarter since 2018.

The company stated that it halted pellet production at its plant in Oman in mid-March for scheduled annual maintenance and also suspended construction of the Sohar concentrator. The resumption of its operations in the country is expected at the end of the third quarter due to events related to the conflict in the Middle East, including logistical constraints.

Vale maintained its iron ore production forecast for 2026 at 335–345 million tons.

As a reminder, by the end of 2025, Vale increased its iron ore production by 2.6% year-on-year – to 336 million tons, the highest annual volume since 2018. Pellet production for the period decreased by 15% year-on-year – to 31.35 million tons. Ore sales last year totaled 314.35 million tons, up 2.5% year-on-year.