Vale reduced iron ore exports by 14.3% y/y in January-April

In January-April 2023, Brazil’s largest mining company Vale reduced iron ore exports by 14.3% compared to the same period in 2022 – to 53.57 million tons. Kallanish reports about it with the reference to Sinferbase data.

In April 2023, the Brazilian company exported 15.65 million tons of iron ore, which is 6.6% less compared to April 2022, but 2.8% more compared to March.

Vale iron ore pellet exports in April amounted to 470,000 tons. This is 88% more compared to April 2022, but 35.4% less m/m. Since the beginning of the year, the company has exported 93.7% more pellets than in January-April 2022 – 2.51 million tons.

In April, 3.01 million tons of iron ore and pellets were shipped to the domestic market of Brazil, which is 0.3% less y/y and 2.8% more m/m. In January-April, product deliveries to domestic consumers increased by 3.6% y/y – up to 11.76 million tons.

As GMK Center reported earlier, in January-May 2023, Brazil shipped for export 135.2 million tons of iron ore, which is 10.7% more compared to the same period in 2022. In May, exports increased by 40.8% m/m and 38.3% y/y – up to 35.2 million tons.

Vale is one of the three largest mining companies in the world. In 2022, the company reduced iron ore production by 2% compared to 2021 – to 308 million tons. Sales of iron ore fell by 3.8% y/y – to 260.7 million tons. Production of pellets increased by 1% y/y – up to 32 million tons, and sales – by 2.7% y/y, up to 33.2 million tons.

In 2023, Vale planned to start producing iron ore at the level of 310-320 million tons and produce 34-38 million tons of pellets.