Brazil: Vale Reduces Pellet Production Guidance for 2019

World's largest iron ore miner- Vale reduced pellet production guidance for the year. The miner reduced guidance to 43 MnT from previously 45 MnT. However, the sales guidance remains intact for iron ore and pellet at 307-332 MnT, with sales expected to be around midpoint of the range. The decision is in line with Vale's strategy of preference for margin over volume.

Vale on 15th Aug'19 , reported temporarily operations halt at its Viga concentration plant, which is part of newly acquired Ferous Resources do Brasil (acquired on 1st Aug'19), due to permit issues. The operation halt was owing to inconsistency in documents related to the operation permit from the municipality of Jeceaba.

Spot iron ore prices up D-o-D

Chinese spot iron ore prices Fe 62% witnessed rise to USD 91.20/MT, CFR China yesterday (27th Sep'19) as against USD 89.6/MT, CFR China assessed on 26th Sep.