Vale Reports Strongest Q2 Iron Ore Output Since 2018

Overview

• Vale said on Tuesday it produced about 84.2 million tonnes of iron ore in Q2 2026, a 0.8% rise year on year and the largest second-quarter output since 2018.
• Q2 sales of iron ore rose roughly 3.1% to about 79.7 million tonnes, driven partly by the sale of inventories accumulated earlier as well as higher current output.
• The company reported an 11.6% jump in the realised price for iron ore fines to US$95 per tonne, and much higher realised prices for copper and nickel that will lift revenue.
• Operational gains came from a record performance at S11D and extra volumes from Capanema and VGR1, while pellet production fell about 7% after temporary suspensions at Vale’s Oman pellet plants.
• Total Q2 production came in slightly below market expectations of about 85 million tonnes, meaning investors will watch Vale’s July 30 financial results and the July 31 analyst call for more detail.