On October 25th, it was learned from Vale that the company's iron ore shipments in the third quarter of 2024 increased by 1.3 million tons year-on-year, with a growth rate of 2%.
The company believes that the main reason for the year-on-year increase in iron ore shipments is the growth in pellet production and strong downstream demand.
In the third quarter of 2024, the company's formally adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) was $3.7 billion, a decrease of 6% month on month and 21% year-on-year. The average actual price of iron ore powder in this quarter was 90.6 US dollars per ton, a decrease of 7.6 US dollars per ton compared to the previous quarter.
In this quarter, the cash cost of the company's iron ore powder ore C1 (excluding third-party procurement) was $20.6 per ton, a decrease of 17% compared to the previous quarter and a decrease of 6% year-on-year. C1 refers to the unit operating costs of mining, processing, railways, and ports, including direct management expenses and indirect production costs.
In the iron ore business, we will accelerate the supply of high-quality products; while in the base metal business, our goal is to continue to grow, especially in the copper business, "said Bi Wenda, CEO of Vale.
Article: Huo Xingyu