Vale Output Misses Estimates in Another Boost to Iron Ore Rally
- Prices of steelmaking ingredient have surged on Chinese demand
- Vale’s nickel and copper production fell from a year ago
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The world’s second-largest producer of iron ore just gave another boost to rallying prices of the steelmaking ingredient at a time of strong Chinese demand.
Vale SA churned out less iron ore than expected last quarter after lower productivity at one mine and a ship loader fire, with its recovery from an early-2019 tailings dam disaster proving a little slower than thought.