Vale CEO Gustavo Pimenta said the company has not seen signs that war has damaged global demand in the metals market, and that disruptions to raw-material shipments linked to the Iran conflict have coincided with wider margins.
According to Jin10, Pimenta said Vale is focusing on unlocking value from its existing assets rather than pursuing acquisitions. He added that global demand for critical minerals has been “very constructive” for the company.
Pimenta said shipping disruptions in the Strait of Hormuz have pushed up fuel prices and ocean freight rates, affecting miners including Vale. However, he said higher prices and increased sales volumes offset those cost pressures.
Vale raised its full-year free cash flow expectation for its core iron ore business by $1.5 billion to reflect benefits from higher iron ore prices since the Iran war began. The company now expects this year’s average iron ore price to be $112 per ton, compared with a pre-conflict scenario forecast of $102 per ton.
Vale Raises Full-Year Iron Ore Free Cash Flow Outlook by $1.5 Billion
2026-06-08 19:23:59
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