Vale, the world's largest iron ore producer, says the industry is taking advantage of the sweet moment when rising prices generate a neat profit, but not enough for a long run.
“The market is in a sweet spot right now with iron ore prices ranging from $ 60 to $ 70,” said Vale SA Chief Financial Officer Luciano Ciani Pires. "It's a price that doesn't drive too many opportunities, but it's a very lucrative range for big mining companies."
Steel ingredient prices have seen ups and downs this year, reaching $ 95 a tonne in February after falling to $ 53 in mid-June. Prices are now back to $ 70 a tonne after increased demand from Chinese steel mills.
Even more for Vale than for its main competitors, Rio Tinto Group and BHP Billiton Ltd. - Differences in the price forecast is a “big deal”. The CFO said: “Every $ 1 drop in iron ore has a $ 350 million impact on the Brazilian company. This, in turn, affects its ability to reduce its massive $ 22 billion in debt and return cash to shareholders. ”
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Metallurgy news
- 30 June 2025
19:00 Main metric capitalization: 577M (a year ago was 3 times more) 18:00 In 2025, China, the world leader in the production of alumina, increased its export to Russia by 16% to the level of 2024. In May, Russia purchased a record 183 thousand 12:00 Evraz received the OFSI license to sell the North American business 11:00 The program "Factory of Ideas" celebrated the 13th anniversary 10:00 "Sword" - salvation of drowning 10:00 However, while reducing coal production in the Russian market continues, the ruble will weaken and the key interest rate will decrease further. 08:00 The cost of electricity for industrial companies from July 1 will increase by more than 20% due to increased sales allowance 08:00 CMACP has identified sectors of the Russian economy that are under financial stress
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