Shipments of Vale Iron Ore (Northern Brazil) are at their Lowest Level in 4 Years

Vale iron ore shipments from the Ponta da Madeira port in So Lus, Northern Brazil, were 21% lower than projected, in July.

Ponta da Madeira is one of the world’s major iron ore and manganese loading terminals, and it’s where Vale ships their premium Carajas ore.
The terminal has a nominal loading capacity of roughly 230 million tonnes per year and is one of the country’s only ports capable of handling Valemax ships (giant in size).
Vale said in July that it has resumed loading operations at ship loader 6 (CN6) in Ponta da Madeira following a five-month hiatus due to a fire.

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However, according to Marine Traffic data, the business only carried 14,974 million tonnes in July, down from the planned 18,9 million tonnes.

In comparison to the 206 million tons target established for 2021, the corporation has an accumulated delay of 14 million tons. At the end of July, accumulated shipments were at their lowest level in four years.
Vale warned that temporary troubles at numerous iron ore mines could cause production delays, but executives maintained that the Brazilian miner was still on schedule to ramp up output in the second half of the year.

The world’s largest iron ore miner lowered its output capacity projection for the year to 343 million tonnes per year but said it is on pace to meet its annualized 2021 guidance of 315 to 335 million tonnes.