Vale Boosts Iron Ore Output

Bloomberg reported Vale SA (SAO:VALE5)’s second-quarter iron-ore production rose 0.4 percent as rain slowed in Brazil.

As quoted in the market news:

Output climbed to 80.5 million metric tons from 80.3 million tons a year ago, the Rio de Janeiro-based company said in a regulatory filing yesterday. That beat the 80.2-million ton average estimate of six analysts surveyed by Bloomberg. BHP Billiton Ltd. (BHP)’s quarterly iron-ore output climbed 15 percent.

Click here to read the full Bloomberg report.