Zhu Kai, head of global sales at Brazil’s Vale, said at a mining conference in Singapore that this year's Vale’s iron ore production will reach 320 million tons, a slight increase from last year.
Zhu Kai said that in the first quarter of this year, iron ore production will be reduced by the impact of the rainy season, but output will increase in the next three quarters. He predicted that the global supply of iron ore will remain tight in the next 12 months, and there will be no signs of shrinking demand. At present, the company is concerned about how it can meet the increasing demand.
He said that Chinamax, the world's first large tonnage 400,000-ton super-large ore vessel ordered from China (Chinamax) was delivered last week, and some customers have already requested the shipment. The launch of the vessel will have a major impact on the transportation of iron ore from Brazil to China. There is no doubt that the cost of shipping will be greatly reduced. Allegedly, the company has successively ordered 16 400,000-ton super large ore carriers from China. According to the current construction progress, this and next two years will be the peak delivery period of this type of ship.
Vale expects to export 120-130 million tons of iron ore to China this year, which is the same as last year. In the first quarter, iron ore sold to China reached 30 million tons.
Zhu Kai said that in the first quarter of this year, iron ore production will be reduced by the impact of the rainy season, but output will increase in the next three quarters. He predicted that the global supply of iron ore will remain tight in the next 12 months, and there will be no signs of shrinking demand. At present, the company is concerned about how it can meet the increasing demand.
He said that Chinamax, the world's first large tonnage 400,000-ton super-large ore vessel ordered from China (Chinamax) was delivered last week, and some customers have already requested the shipment. The launch of the vessel will have a major impact on the transportation of iron ore from Brazil to China. There is no doubt that the cost of shipping will be greatly reduced. Allegedly, the company has successively ordered 16 400,000-ton super large ore carriers from China. According to the current construction progress, this and next two years will be the peak delivery period of this type of ship.
Vale expects to export 120-130 million tons of iron ore to China this year, which is the same as last year. In the first quarter, iron ore sold to China reached 30 million tons.