Vale fights to meet iron ore guidance

Original article by Brad Thompson
The Australian Financial Review – Page: 17 : 4-Jun-20

Macquarie Wealth Management’s analysis of port data shows that BHP, Rio Tinto and Fortescue Metals Group are on track to achieve their iron ore export guidance for 2020. However, Macquarie believes that Brazilian rival Vale will struggle to meet its full-year guidance of 310 million to 330 million tonnes, despite ramping up shipments in the last two weeks. Macquarie estimates that Vale will need to export more than six million tonnes per week to achieve the lower end of its guidance; its weekly shipments have averaged 4.5 million tonnes so far in the June quarter.

CORPORATES
BHP GROUP LIMITED – ASX BHP,RIO TINTO LIMITED – ASX RIO,FORTESCUE METALS GROUP LIMITED – ASX FMG,VALE SA,MACQUARIE WEALTH MANAGEMENT

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