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Vale’s iron ore shortage hits Brazilian steel mills - Report

Steel News - Published on Wed, 17 Apr 2019

Image Source: Reuters
Seeking Alpha reported that Vale's decision SA to halt production at 10 sites in Brazil's Minas Gerais state following this January's deadly dam disaster has affected deliveries of iron ore pellets to clients, newspaper Valor Econômico reports. Vale is trying to resolve the problem by bringing iron ore pellets produced in Maranhão state to clients in the southeast, but the longer distances involved are adding to transportation costs, according to the report.

The production cuts, estimated at 93 million tonnes of iron ore, could trim 0.2 percentage points from Brazil’s gross domestic product this year, the Getúlio Vargas Foundation said this weekend.

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Posted By : Ratan Singh on Wed, 17 Apr 2019
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