Key Facts
Vale stayed the key Brazilian proxy and the world’s second-largest iron ore exporter, with 2026 guidance of roughly 335-345 million metric tonnes after about 335 million tonnes last year.
China demand is still the swing factor with January-April 2026 crude steel output at 331 million tonnes, down 4.1% year on year, while broader 2026 steel demand is expected to grow only 0.3% to about 1.72 billion tonnes.
Vale’s realised iron ore price remains firm with its average realised price for iron-ore fines reported at about $95 per tonne and up 11.6% year on year.
The latest settled session was stronger across the board with Iron ore (Vale) at 14.85 $ (+4.21% d/d) [2026-07-22], CSN Mineracao at 1.09 $ (+9.00% d/d) [2026-07-22], and Rio Tinto at 92.28 $ (+1.91% d/d) [2026-07-22].
