Vale lowered its 2019 pellet production target to 43 million tons

Vale lowered its 2019 pellet production target to 43 million tons

Summary

Vale lowered its 2019 pellet production target to 43 million tons

On September 26, Vale officially issued a statement saying that in order to better adapt to the current market situation, the company has lowered its 2019 pellet production target to 43 million tons from the previously announced 45 million tons. Vale said that in 2019, the company's iron ore and pellets sales target remained unchanged at 30,700 tons to 33,200 tons. It is expected that the sales of iron ore and pellets in 2019 will be the middle of the region.