Business UpdateJul 31, 2026, 11:43 AM
Vale Updates 2026 Estimates: Iron Ore Costs Up, Copper/Nickel Costs Down
AI Summary
Vale S.A. has updated its 2026 estimates for cost components and production volumes. The C1 cash cost and all-in cost for iron ore have increased, while the all-in costs for copper and nickel have decreased. Additionally, the company has raised its production volume estimates for both copper and nickel for the year.
Key Highlights
- 2026 C1 cash cost of iron ore updated to $22.5-$23.5/t (from $20.0-$21.5/t).
- 2026 All-in iron ore cost updated to $58-$62/t (from $52-$56/t).
- 2026 All-in copper cost updated to $0-$500/t (from $1,000-$1,500/t).
- 2026 All-in nickel cost updated to $10,000-$11,500/t (from $12,000-$13,500/t).
- 2026 Copper production estimate updated to 360-380 kt (from 350-380 kt).
- 2026 Nickel production estimate updated to 185-200 kt (from 175-200 kt).
Price Impact
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