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Vale sets record sales of iron ore and nickel in the fourth quarter of 2020

Vale recently released its 2020 production and sales report. The report shows that the sales of iron ore, copper and nickel were strong in the fourth quarter, with a quarter-on-quarter increase of 25.9%, 15.4% and 13.6%, respectively, and record sales of iron ore and nickel.
Data show that the sales of iron ore fines and pellets in the fourth quarter reached 91.3 million tons, of which the Chinese market sales reached a record 64 million tons (the Chinese market sales in the fourth quarter of 2019 were 58 million tons), a record of 2020 Iron ore sales record in the Chinese market in the fourth quarter. In 2020, Vale’s iron ore fines production totaled 300.4 million tons, the same as in 2019. Among them, the iron ore fines output in the fourth quarter was 84.5 million tons, a decrease of 5% from the previous quarter. Taking into account production restrictions, Vale’s iron ore production capacity will reach 322 million tons by the end of 2020, and it is expected that the iron ore production capacity will reach 350 million tons by the end of 2021. In 2020, the total output of pellets was 29.7 million tons, a year-on-year decrease of 29.0% compared to 2019.
   The report shows that in 2020, the production of finished nickel (excluding the New Caledonia plant) is 183,700 tons, which is the same as in 2019. In the fourth quarter of 2020, nickel production reached 55,900 tons, an increase of 19% from the previous quarter. Nickel sales in a single quarter were the highest since the fourth quarter of 2017.
   In 2020, copper production will reach 360,100 tons, a year-on-year decrease of 5.5% compared to 2019. In the fourth quarter of 2020, copper production will reach 93,500 tons, an increase of 7% from the previous quarter.
   In terms of coal production, the report stated that Vale’s coal business resumed maintenance operations in November 2020. The maintenance is expected to be completed in the first quarter of 2021, and the commissioning of new and refurbished equipment will follow. The production of coal mines and concentrators should start in the second quarter of 2021 and continue until the end of 2021. It is estimated that the production operation rate in the second half of 2021 will reach 15 million tons/year.


Post time: Feb-09-2021