On January 30th, the reporter learned from Vale that for the entire year of 2023, the Brazilian iron ore producer's iron ore production reached 321.2 million tons, a year-on-year increase of 4.3%, exceeding the production guidance target of 315 million tons.
In 2023, the company's copper production reached 326600 tons, a year-on-year increase of 29%, slightly higher than the revised production guidance target of 325000 tons. In 2023, the nickel production of Vale was 164900 tons, a year-on-year decrease of 8%, in line with the production guidance target.
It is reported that in December 2023, the company's iron ore production reached its highest monthly output since 2018. In the fourth quarter of 2023, the quarterly production of copper increased by 50% year-on-year, reaching the highest level since 2018. The quarterly average realized price of nickel is 7% higher than the reference price of the London Metal Exchange. The iron ore production in that quarter reached 89.4 million tons, a year-on-year increase of 11%; Nickel production decreased by 5% year-on-year.