Vale, the world's leading iron ore producer, produced iron ore as a raw material for steelmaking in the second quarter higher than market expectations, and copper production grew at the same time. In the three months ending June 30, total iron ore production reached 84.26 million tons, up 21% month-on-month and up slightly by nearly 1% year-on-year. Analysts had anticipated production of 83.84 million tons. Rival Rio Tinto produced 88.8 million tons of iron ore during the same period after the impact of the Australian cyclone subsided. This large iron ore mining company kept its annual iron ore production target unchanged, in the range of 335 million to 345 million tons.

Vale, the world's leading iron ore producer, produced iron ore as a raw material for steelmaking in the second quarter higher than market expectations, and copper production grew at the same time. In the three months ending June 30, total iron ore production reached 84.26 million tons, up 21% month-on-month and up slightly by nearly 1% year-on-year. Analysts had anticipated production of 83.84 million tons. Rival Rio Tinto produced 88.8 million tons of iron ore during the same period after the impact of the Australian cyclone subsided. This large iron ore mining company kept its annual iron ore production target unchanged, in the range of 335 million to 345 million tons.