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Reuters reported Brazil’s Vale SA (SAO:VALE5) will suspend operations at three Brazilian iron ore pellet plants and increase output of lower-value mine products.
Reuters reported Brazil’s Vale SA (SAO:VALE5) will suspend operations at three Brazilian iron ore pellet plants and increase output of lower-value mine products.
As quoted in the market news:
The closures remove capacity responsible for nearly a fifth of the company’s pellet output in the first six months of the year.
With the pellet plant operation suspended, Vale said in a statement that it will adjust mine output to produce more sinter feed and less pellet feed. Vale’s Sao Luis and Tubarao I and Tubarao II pellet plants will go off line starting on Oct. 8.