Vale 4Q Iron Ore Output Down 1% vs Year Earlier at 80.9 Million Tons

By Jeffrey T. Lewis

SÃO PAULO--Brazilian mining giant Vale SA said output of iron ore fell in the fourth quarter from a year earlier.

Iron ore output fell 1% in the quarter compared with the final quarter of 2021 to 80.9 million metric tons and fell 9.9% from the third quarter of 2022, Vale said Tuesday in its quarterly production report. Production of iron ore pellets, a premium product, fell 8.9% in the fourth quarter from a year earlier to 8.3 million metric tons, and rose 0.1% from the third quarter, Vale said.

Sales of iron ore fell 0.7% in the fourth quarter from a year earlier to 81.2 million tons and jumped 24.2% from the previous three months. Sales of pellets fell 15.1% from the final quarter of 2021 to 8.8 million tons and rose 3.1% from the third quarter of 2022.

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(END) Dow Jones Newswires

01-31-23 1655ET