Iron Giant Vale Beats Production Estimate in New Blow to Prices

Iron Giant Vale Beats Production Estimate in New Blow to Prices
The Brazilian mining giant produced 89.7 million metric tons, topping the 87.2 million-ton average analyst estimate. The result was also well ahead of the previous three months and slightly more than a year ago. The company attributed the iron ore output growth to dry weather in northern Brazil and higher third-party purchases and production in the south.
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