According to the Reuters blog post https://www.reuters.com/article/us-vale-sa-results/brazils-miner-vale-expects-stronger-iron-ore-sales-in-fourth-quarter, company executives of Brazilian miner Vale SA VALE3.SA informed the market that they have recovered their iron ore inventories.
Sales in the following months are expected to be in better position matching production.
A rise of Vale’s stock 3% to 62 reais in Sao Paolo followed the company’s announcements last week.
The production will be sold instead of stored, so inventory stocks will follow a lower pace between 2021 and 2022.
Brazil and Australia, the world’s top iron ore producers, expect supply could recover in the future.
Vale is communicating with trading firm Trafigura to sell nickel and cobalt operations in New Caledonia, French Polynesia.
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