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Vale cuts 2019 pellet output guidance, sales unaffected

 

Date:[9/29/2019]    Source:Shandong Hai Steel Co.,Ltd

 

Vale cuts 2019 pellet output guidance, sales unaffected

Vale, the world’s top iron ore miner headquartered in Brazil, informed the public on September 26 local time to trim its original 2019 pellet production guidance from 45 million tonnes to 43 million tonnes to “adapt its product portfolio to temporary market conditions”, though its iron ore and pellet sales guidance for the calendar year 2019 remains unchanged.
“This decision is in line with the margin over volume strategy and efficient capital allocation to adapt the value chain and meet prevailing market conditions,” it explained. In the statement, Vale repeated that its iron ore and pellet sales guidance would still be at 307-332 million tonnes for 2019
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