Vale iron ore exports to India set to rise

Vale iron ore production

Vale targets new demand as India opens to imports

Vale iron ore exports to India will increase as the market opens to imports. The miner plans to sell over 10mn t. Vale iron ore exports to India align with its strategy to diversify customers. However, the company did not disclose a timeline or contract structure.

Lower prices, higher output support competitive positioning

Vale iron ore exports to India gain support from falling delivered costs and rising output. Average iron ore prices fell 13pc year on year to $85/t. All-in prices to China slipped 10pc to $61.20/t. Meanwhile, production improved at Brucutu and hit records at Carajás. As a result, Vale expects higher volumes from Vargem Grande and Capanema. Each asset has 15mn t/yr capacity and continues ramp-up.

Trade backdrop and base metals trends shape margins

US tariff relief for Brazilian steel eased market anxiety, Vale said. That backdrop helps downstream demand visibility in Asia. Meanwhile, Vale lifted copper output 18pc to 92,600t on higher processing rates. Guidance implies lower copper all-in prices next quarter. Nickel averaged $12,396/t, down 30pc year on year. Canadian nickel production reached 21,300t, the highest since 2021.

The Metalnomist Commentary

Vale iron ore exports to India reflect shifting trade routes as India’s mills seek quality fines and blends. Capacity adds at Carajás, Vargem Grande, and Capanema underpin reliable supply. Watch delivered spreads and Indian port constraints, which will influence pricing and cadence.