Quarterly UpdatesJul 22, 2026, 06:07 AM
Vale Q2 Iron Ore Production 84.3 Mt; Copper +6%; Nickel +4%
AI Summary
Vale S.A. reported a solid operating performance in Q2 2026, with increased production and sales across all business segments year-over-year. Iron ore production reached 84.3 Mt, driven by record output at S11D. Copper production hit 98.4 kt, its best second quarter since 2017, while nickel production achieved its strongest Q2 since 2020 at 42.0 kt. The company also saw significant increases in realized prices for copper and nickel.
Key Highlights
- Iron ore production totaled 84.3 Mt, up 1% year-over-year.
- Iron ore sales reached 79.7 Mt, an increase of 3% year-over-year.
- Copper production rose 6% year-over-year to 98.4 kt, its best Q2 since 2017.
- Nickel production increased 4% year-over-year to 42.0 kt, its strongest Q2 since 2020.
- Average realized iron ore fines price was $95.0/t, up 11.6% year-over-year.
- Average copper realized price was $14,062/t, up 56.5% year-over-year.
- Average nickel realized price was $18,061/t, up 14.3% year-over-year.
- Pellet production decreased 7% year-over-year to 7.3 Mt due to Oman plant suspension.
Price Impact
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