Irrespective of restart of the mine, production still will be 50mt-70mt.
Sp should not have reacted with an 8.00% plus decline
lets hope sp recovers somewhat today as it should
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The prospect of a restart at Brucutu pressured iron ore prices, with the most-active contract on the Dalian Commodity Exchange falling by 3.8pc today.
Vale reiterated its iron ore sales guidance of 307mn-332mn t for 2019, which is 50mn-75mn t lower than actual sales in 2018. Sales volume may come in at middle of the forecast range, it said.
A tailings dam breach at Vale's Feijao iron ore mine on 25 January led to hundreds of death and resulted in restrictions being imposed on its mining operations in Minas Gerais.Heavy rains in March and April affected iron ore shipments from the Ponta da Madeira port in Brazil, affecting production volumes at Vale's northern system mines.
The northern system produces 65pc IOCJ fines, Vale's flagship product. IOCJ fines availability in seaborne markets is expected to be tight this year as additional supplies are diverted to blend BRBF fines in Malaysia and at Chinese ports.
Supply of high-silica, medium-grade southern system fines could also be tight because of the mining restrictions in Minas Gerais.
https://www.argusmedia.com/en/news/1886663-vale-to-restart-brucutu-as-rains-hit-northern-system?backToResults=true
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