28
Jul
13:26
Vale's second-quarter iron ore earnings drop, costs rise
Vale reported a 13% on-year decline in consolidated net operating revenue in the second quarter to $9.67 billion, while attributable net income plummeted 78% to $892 million.
The Iron Solutions division accounted for $7.78 billion of sales, down 14%, with adjusted Ebitda down 23% to $3.94 billion.
Iron ore fines and pellet sales inching up 0.7% in Q2 to 72.13 million tonnes (see Kallanish passim) helped boost consolidated Ebitda by $29m, but lower prices slashed …
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Anonymous
Very good overview of the weekly steel market.
Anonymous