Vale lowers 2021 iron ore output upper range to 320 mln t

Vale, the world's top iron ore miner, has decided to lower the upper range for its iron ore production guidance for 2021 to 320 million tonnes from the original 335 million tonnes, though lower range still remains at 315 million tonnes, according to the company's sharing of its presentation to investors at the New York Stock Exchange on its website on November 29.

The update, to some extent, was of little surprise, as Brazilian iron ore miner mentioned in its Q3 report that its iron ore production for 2021 would probably be slightly below the middle of its production guidance range then at 315-335 million tonnes, and it would lower the supply