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Steel & Metal
- Brazil -

Vale's New CEO Plans Significant Boost in Iron Ore Production Amidst Challenges

Gustavo Pimenta, the new CEO of Brazilian mining giant Vale, announced plans to boost iron ore production during a recent analyst conference. Currently targeting an output of 323 to 330 million metric tons per year, Pimenta aims to increase this to between 340 and 360 million metric tons, although he did not specify a timeline. He emphasized the importance of focusing on high-quality products and improving efficiency. Vale has faced challenges in production due to past environmental disasters, which have raised safety concerns. Pimenta also intends to enhance communication with authorities and the public as part of his strategy.

Iron ore futures extend gains as China outlines stricter steel capacity controls

Baosteel Q3 net profit jumps 130% on demand recovery and resilient exports

LME proposes permanent curbs on large nearby positions amid depleted stocks, zinc squeeze

China lifts curbs on Hancock Prospecting’s MB fines purchases, easing iron ore trade friction

China’s CISA mills lift early‑October crude steel output 7.5%; inventories also climb

India’s steelmakers seek relief from import curbs as H1 met coke shortfall widens

China iron ore futures slip; Tangshan concentrate prices steady amid tight supply

Indonesia suspends all scrap metal imports after radioactive contamination detected

Serbia asks EU to exempt it from proposed new steel tariffs and quota cuts

U.S. judge signals approval of Rio Tinto’s $138.75 million Oyu Tolgoi investor settlement

Rio Tinto says strong Q4 needed to hit iron‑ore target after Q3 shipments of 84.3 mt; China demand firm

ArcelorMittal’s M&A chief in South Africa for talks on sale of local unit, sources say

EU plan to halve steel import quotas and double out‑of‑quota tariff to 50% raises Indian export risk

Copper tops $11,000/t on LME as supply disruptions and fund buying lift prices