Vale cuts pellet supply on weaker demand

摘要

London—Brazilian miner Vale has cut full- year iron ore pellet production guidance to 43 million mt in 2019, from 45 million mt earlier, as steel mills and DRI plants globally reduced demand at higher premiums and successfully renegotiated prices. Vale’s revision in production plans for high-grade pellet product may be amplified against existing trade and market allocations, with only three months of the year left to go. Vale cut full-year pellet output to 45 million mt in July from a 60 million mt target released in December 2018.