Vale’s Q4 Iron Ore Beat: Higher Output, Better Prices, But Premiums Compressed

2026-01-28 - 10:40

Key Points Vale’s Q4 iron ore output rose 6% year on year, beating many forecasts despite seasonal constraints. Prices improved, but product premiums collapsed as pellets stayed weak and maintenance limited output. Copper surged on record Salobo performance, while nickel stayed solid amid global oversupply pressures. Vale closed 2025 by producing 90.4 million tonnes of