Vale raises 2024 iron ore production forecast to 323-330 million tons, despite weakened Chinese demand.
Vale, a leading iron ore miner, has raised its 2024 production forecast to 323-330 million metric tons from 310-320 million, following a strong first half. Despite iron ore prices nearing two-year lows due to weakened Chinese demand, Vale remains optimistic about market conditions. The company plans to invest over $400 million annually in innovation. Concerns persist that increased supply without a rebound in demand could further pressure prices.
September 11, 2024
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