According to a report by Mining.com, citing Reuters, Brazilian iron ore giant Vale announced in its production and sales report on April 15 that its iron ore output for the first quarter totaled 67.7 million tons, a year-on-year decrease of 4.5%.

Vale, one of the world’s largest iron ore producers, said that heavy rainfall has affected its iron ore production at its mines in northern Brazil.

Vale stated that the decline in first-quarter production was in line with expectations. The company plans to produce 325 million to 335 million tons of iron ore in 2025, as it has already accelerated the ramp-up of the VGR1 and Capanema projects.

The report shows that iron ore sales volume in the first quarter increased by 3.6% year-on-year. Vale attributes this growth to inventory supply and also notes that it is prioritizing the supply of medium-grade products based on market conditions.

In the first quarter, Vale’s average iron ore sales price was $90.80 per ton, down 10% from the same period last year and down 2.4% from the fourth quarter of 2024.

In an investment note, Citigroup analysts said that iron ore sales were broadly in line with expectations, but copper and nickel sales fell short of projections. Vale will release its first-quarter report on April 24.

In the first quarter, Vale’s copper production reached 90,900 tons, representing an 11% year-on-year increase. The company attributes this growth primarily to higher output from its Voisey’s Bay mine in Canada, as well as from its Salobo and Sossego copper mines in Brazil. Copper sales totaled 81,900 tons, up 6.6%. Nickel production amounted to 43,900 tons, a 11% increase over the same period last year, driven mainly by expanded output from its Onca Puma mine in Brazil and its Canadian nickel mines. In the first quarter, the company’s nickel sales reached 38,900 tons, up 17.5%.