Vale shipments are still diverging from the FY forecast of around 310mt. A total of only 4.1mt shipped in half a month.
In March only 22mt of iron ore were shipped, down 26% from February and down 30.% from March 18. Not sure how much from Vale was shipped exactly in March 19 but even at approx 90% of 22mt, 20mt or a run rate of 240mt would have been shipped....
In 1.5 months, 20mt + 4.1mt (24.1mt), which is a run rate of about 192mt, well under the revised forecast.
Time will tell if Vale can meet their full year forecast but based on what has been shipped in the last 1/8th of the year, a further revision down could occur in due course.
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https://do not advertise external s...-down-26-in-March-after-Vale-output-cuts.html
The average price of Brazilian iron ore exports last month was US$62.5/t, compared to US$56/t in March 2018. By volume, exports were 25.9% lower at 22.2M
Another Vale mine forced to close, page-34
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