Vale Maintained Strong Production and Sales Momentum in Q1

Published: Apr 20, 2026 19:57

Source: China Nonferrous Metals News

Save

In Q1 2026, Vale of Brazil maintained strong production and sales momentum, with multiple core assets setting historical records and overall operational performance being both robust and groundbreaking. All three major business segments — iron ore, copper, and nickel — achieved comprehensive growth. Iron ore sales reached the highest Q1 level since 2018, copper production hit the best Q1 result since 2017, and nickel production was the strongest Q1 performance since 2020.

I. Iron Ore Business: Accelerated Capacity Release with Growth in Both Production and Sales

Iron ore production reached 69.7 million mt, up 3% YoY. The growth was primarily driven by record single-quarter output at the S11D and Brucutu mines, combined with incremental capacity release from the continued ramp-up of the Capanema project and the Vargem Grande 1 (VGR1) plant.

Iron ore sales totaled 68.7 million mt, up 4% YoY, slightly outpacing production growth.

II. Copper Business: Multi-Site Synergies Driving a New Quarterly High in Nearly 9 Years

Copper production reached 102,300 mt, up 13% YoY.

The Salobo Phase III expansion reached full production, achieving stable output at full capacity; the Sossego operating area completed an intelligent ore supply system upgrade, improving the overall mining and processing recovery rate by 2.3 percentage points; and the Voisey's Bay polymetallic mine's copper system operated continuously without failure for over 90 days, contributing stable incremental output.

Q1 copper production was the highest Q1 figure since 2017, exceeding the 2022 peak by 7.6%, marking Vale's copper assets entering a mature phase of scaled and intelligent operations.

III. Nickel Business: Smelting Breakthroughs Driving the Best Quarterly Performance in 4 Years

Nickel production reached 49,300 mt, up 12% YoY, the highest Q1 level since 2020, highlighting the enhanced resilience of the vertically integrated nickel industry chain.

The Onça Puma No. 2 furnace, commissioned in Q4 2025, achieved its first full-cycle full-capacity operation in Q1 2026; the Voisey's Bay underground mine maintained stable supply; and the Long Harbour nickel refinery set a new historical production record for the quarter.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

2 hours ago

[SMM Steel] Pakistan extends AD duties on Chinese steel billets for another five years

[SMM Steel] Pakistan’s National Tariff Commission (NTC) has extended anti-dumping duties on continuous casting steel billets from China at 24.04% following a second sunset review. The measure will remain effective for five years from June 22, 2025, covering semi-finished steel products under multiple HS codes. Originally imposed in 2017 and reviewed in 2022, the duty aims to protect domestic producers, while exemptions apply for export-oriented production and foreign-funded projects.

2 hours ago

[SMM Steel] Vietnam removes anti-dumping duties on Malaysian H-beam imports

[SMM Steel] Vietnam’s Ministry of Industry and Trade (MOIT) has terminated anti-dumping (AD) duties on H-beam steel from Malaysia following a sunset review, as domestic producers did not request an extension. The case, initiated in 2020, previously imposed duties of 10.64% (2021) and later adjusted to 22.09–33.51% (2022). With the expiry of the measure, Malaysian H-beam imports are expected to resume under normal trade conditions, potentially easing supply and increasing competition in Vietnam’s structural steel market.

2 hours ago

3 hours ago

【SMM Steel】Abu Dhabi's Metal Park adds large-scale rebar capacity

【SMM Steel】Abu Dhabi's Metal Park will launch a new cut-and-bend rebar facility in Q2 2026, adding 25,000-30,000 t/m of capacity (~10-12% of UAE monthly usage). The project supports large infrastructure/energy projects by providing precision-processed steel. Integrating storage/fabrication reduces on-site congestion. The platform uses a pay-as-you-go model, allowing scale without large upfront capital. Commissioning is underway; full ops expected within six months.

3 hours ago