Vale reduced iron ore exports by 17.3% y/y in January-August 2022

The company's sales of iron ore on the domestic market increased by 19.6% y/y

The Brazilian corporation Vale, one of the largest producers of iron ore in the world, in January-August 2022 reduced the export of iron ore by 17.3% compared to the same period in 2021 – to 147.1 million tons. SteelOrbis reports about it.

In August 2022, the company exported 23.99 million tons of iron ore, which is 7.8% more than in July and 14.6% less than in August 2021.

Vale’s sales in the domestic market of Brazil in August 2022 increased by 19.6% year-on-year – up to 1.89 million tons. Compared to the previous month, sales in August increased by 2%. In 8 months of 2022, the indicator increased by 71.2% compared to the same period in 2021 – up to 15.41 million tons.

Vale is one of the three largest mining companies in the world. In 2021, the company increased production of iron ore by 5.1% compared to 2020 – up to 315.6 million tons. Sales of iron ore increased by 8.9% y/y – up to 277.5 million tons.

In 2022, Vale intends to start producing iron ore at the level of 310-320 million tons per year and produce 34-38 million tons of pellets. At the beginning of the year, the company planned to extract at least 400 million tons of iron ore.

As GMK Center reported earlier, Vale and German steel producer Stahl-Holding-Saar (SHS) will work together to find a solution aimed at the production of carbon-neutral steel. The companies will explore the use of Vale’s green iron ore briquettes, DR-pellets and Tecnored technology in steel production.