Vale's Q3 iron ore production and sales increased by more than 10% QoQ.

On October 21, 2025, Brazilian iron ore giant Vale released its Q3 production and sales report:

Iron Ore Production:

Vale's iron ore production in Q3 was 94.4 million mt, up 12.9% MoM and up 3.8% YoY. The production increase was driven by the S11D project achieving a new quarterly production record and production ramp-ups at other projects. Third-party procurement volume was approximately 8.16 million mt, down 0.8% MoM but up 18.2% YoY.

Iron Ore Sales:

Vale's iron ore sales in Q3 were 85.99 million mt, up 11.2% MoM and up 5.1% YoY. Sales of ore fines were 75.02 million mt, up 10.8% MoM and up 8.2% YoY, while pellet sales were 8.76 million mt, up 17.2% MoM but down 13.5% YoY.

Iron Ore Price Adjustments:

Vale's product portfolio optimization strategy increased its fine ore premium by $1.8/mt MoM to $0.7/mt, with low-aluminum products such as BRBF, medium-grade Carajás, and IOCJ making particularly significant contributions. The adjusted composite premium reached $2.1/mt, an increase of $1.0/mt MoM.

Currently, Vale's average price for fine ore is $94.4/mt, up $9.3/mt MoM, while the average pellet price decreased by $3.3/mt MoM to $130.8/mt.

Iron Ore Production Guidance:

The full-year 2025 production guidance remains unchanged at 325-335 million mt.

Project Progress:

The Northern System, specifically the S11D project, set a new quarterly production record this quarter, reaching 23.6 million mt, an increase of 1.5 million mt YoY. In the Southeastern System, the Brucutu project commissioned its fourth production line; the Capanema project, which commenced operations in Q1 2025, is ramping up smoothly, with Q3 production reaching 2.9 million mt. In the Southern System, the Vargem Grande 1 project is ramping up smoothly, and the Vargem Grande complex produced 9.4 million mt in Q3, up 3% MoM and up 9.8% YoY.