Iron ore price, page-42373

Overnight

I am looking forward to the end of the month when Vale announces its CY21 production figures.

Guidance for CY21 was forecast at 315 - 335mt then later revised to 315 - 320mt.

I predicted early & mid year that with covid & other issues ( conveyor belt fires, ships colliding at doc, talings dams deemed unsafe) etc they had ZERO chance of hitting production no's.

Doubts remain strong about the lower revised CY21 numbers .

I have heard from boat watchers they probably won't hit the bottom end of the range, suggesting 290 - 300mt more likely.

In CY19 they produced 302mt and CY20 they produced 300.4mt.

This compliments the new mantra Vale bats around to investors about "Value over volume" - informing its new revised targets and reacting to the price signals.

Anyway Vale production no's will likely be market moving data that's for sure.

Fingers crossed it has a 2 in front of it rather than 3!