According to official information released by Vale, the company's nickel sales in Q1 2025 increased by 18% YoY, with a growth of 5.8k mt. Despite the strong sales growth, the decline in nickel prices had a negative impact on overall financial performance. Vale stated that its adjusted all-in nickel cost, after adjustments by its Indonesian subsidiary PTVI, decreased by 4% YoY to $15,730 per mt, reflecting improved cost efficiency in the nickel business. Total nickel production reached 43.9k mt, up 11% YoY (an increase of 4.4k mt), primarily driven by the production recovery at Onça Puma following the blast furnace reconstruction in Q1 2024, improved performance of Canadian assets, and continued production growth from the VBME project.