Daily iron ore price update (Vale again)

Texture from Reuters:

Brazil’s Vale SA, the world’s largest iron ore exporter, said it had to temporarily halt operations at the Viga concentration plant that is part of its newly-acquired Ferrous Resources do Brasil due to a permit problem, impacting some 330,000 tonnes of iron ore production a month.

But it said the suspension would not affect the Viga mine and that the permit issue was not related to a tailings dam.

Nothing burger. No change to outlook. To the charts:

Still targeting $60 before year end.

David Llewellyn-Smith

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