Just a note. Vale supply around 23Mt pa to their domestic...

Just a note. Vale supply around 23Mt pa to their domestic market, so total production and shipping figures will be different. They also produce (and ship) more in the second half than the first half, due to the weather patterns. But, they have real constraints, for sure. UBS is backing in Vale, and (like many other analysts) rating them as a buy, and that is despite all the court actions happening in MG, the huge fines and reparation payments, and the ongoing risks, like forced mine suspensions and covid related labour impacts. Of course, the high IO price is the flip side, driving substantial profits for Vale, anyway. Bumpy H1 for them, let's see how H2 plays out. They may struggle. Guidance revisions were the norm last year.