Summary by Moomoo AI
Vale SA reported a significant year-over-year increase in iron ore sales by 7.3% in the second quarter of 2024, with a record production at S11D marking a strong quarterly performance. The company's iron ore production reached 80.6 million tons, which is 1.9 million tons higher than the previous year, supporting confidence in achieving the upper end of the 2024 production guidance. However, pellet production saw a slight decrease. Copper production remained flat year-over-year, while nickel production dropped by 24% due to planned maintenance. Vale's sales summary showed a robust performance with iron ore sales reaching 79.8 million tons, a 7.3% increase year-over-year. The average realized prices for iron ore fines and pellets decreased compared to the previous quarter, while copper and...Show More
