Vale SA, the world’s No. 2 iron ore supplier, lowered its annual production guidance in a move that should support prices of the steel-making ingredient.
Vale said Tuesday it delivered 74.11 million metric tons last quarter, missing the 76.9 million-ton average estimate among analysts tracked by Bloomberg. The Rio de Janeiro-based company also revised previously reported production figures, cutting last quarter to 63.1 million tons from 63.9 million. Output a year ago was revised lower to 75 million tons from 75.7 million, as it excluded the Midwestern operations.
Abbiamo riassunto questa notizia in modo che tu possa leggerla velocemente. Se sei interessato alla notizia puoi leggere il testo completo qui. Leggi di più: