Vale(US:VALE) Zhong Guo Jing Ji Wang·2025-10-23 03:51Core Viewpoint - Vale's third-quarter production and sales report indicates strong operational performance, with iron ore, copper, and nickel businesses progressing towards the upper end of the 2025 production guidance range [1] Group 1: Iron Ore Performance - Iron ore production reached the highest level since 2018, totaling 94.4 million tons, an increase of 3.4 million tons year-on-year, representing a growth of 4% [1] - Iron ore sales amounted to 86 million tons, up by 4.2 million tons year-on-year, reflecting a growth of 5% [1] - The improvement in pricing was primarily driven by an increase in iron ore fines premium, which rose by $1.8 per ton quarter-on-quarter [1] - Pellet production totaled 8 million tons, a decrease of 2.4 million tons year-on-year, representing a decline of 23% [1] Group 2: Copper and Nickel Performance - The Salobo and other operational areas achieved year-on-year growth in copper and nickel production [1] - The performance of polymetallic assets remained robust, laying a solid foundation for production growth in subsequent quarters [1]