Bloomberg reported that Vale SA, which is the third biggest mining company in the world, posted higher iron ore output in the fourth quarter than six analysts’ estimates because of less rain in Brazil.
As quoted in the market news:
Total output rose 3.1 percent to 85.5 million metric tons from 82.9 million tons a year earlier, the Rio de Janeiro-based company said in a statement today. That exceeded the 83.4 million-ton average of six analysts’ estimates compiled by Bloomberg.
Get Our Expert Guide to Base Metals Investing FREE!Download this FREE Special Report, Investing Opportunity: Using LME Prices and Base Metals News.