On July 25th local time, Vale released its Q2 2024 results. In Q2, iron ore shipments increased by 5.4 million tons year-on-year and 16 million tons month on month, with growth rates of 7% and 25% respectively. This was due to the highest Q2 production record since 2018 and the completion of inventory sales. In the second quarter, the adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) reached $4 billion.