Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Brazilian miner Vale’s domestic iron ore sales fell by 6.1pc to 13.7mn mt in January-November from 14.6mn mt sold in the same period last year, according to the Brazilian National Union of the Industry of Iron and Base Metals (Sinferbase).


In November alone, however, iron ore domestic sales tallied at 1.4mn mt, up by 7.7pc from 1.3mn mt during the same month in 2019, Sinferbase data indicated.


The company’s iron ore exports also decrease by 3.7pc to 245.6mn mt in the January- November period, from 255mn mt shipped in the same timeframe last year. Vale shipped 23.8mn mt in November, up from 23.3mn mt in the same month of 2019, Sinferbase noted.


Vale cut its forecast for iron ore production to 300-305mn mt, compared to predictions of at least 310mn mt earlier this year.


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