Vale readies iron ore deluge

Vale is out with its Q2 production report. According to Bloomie, it’s a disaster:

The world’s second-largest iron producer churned out 75.7 million metric tons in the second quarter compared with the 78 million-ton average estimate among analysts tracked by Bloomberg. The result was still up from both the previous three months and the Covid-impacted year-ago period.

In reality, it looks pretty darn good. From Vale:

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