Brazil’s Vale eyes 2017 iron-ore output at low end of forecast

July 20, 2017

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Brazil’s Vale, the world’s largest iron-ore producer, said on Thursday that iron-ore output would close the year near the bottom of its forecast of 360 million to 380 million tonnes, despite record second-quarter production.

Vale, said iron-ore production reached 91.85-million tonnes in the April to June period, a record for a second quarter, up 5.8% from 86.823 million tonnes in the same period last year. Pellet production rose 21.5% to 12.2-million tonnes last quarter from a year earlier.

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