Vale S.A. Sponsored ADR (VALE.US) Q1 iron ore sales hit a five-year high compared to the same period last year, with copper and nickel production achieving double-digit growth.

Global iron ore giant Vale S.A. Sponsored ADR (VALE.US) announced on Thursday that its first-quarter production and sales performance were strong, with record production in multiple mining areas. In terms of iron ore, the increase in production capacity of new assets supported the continuous growth of production, while sales reached the highest level since the first quarter of 2018. The total iron ore production was 69.7 million tons, an increase of 3% (2 million tons) year-on-year, mainly due to record production in the S11D and Brucutu mining areas, as well as the continued production capacity increase in the Capanema and VGR1 projects. Pellet production reached 8.2 million tons, an increase of 14% (1 million tons) year-on-year, mainly driven by the improved performance of the Tubaro pellet plant. Iron ore sales increased by 4% (2.6 million tons) year-on-year, totaling 68.7 million tons, in line with the production growth trend. The average realized price of iron ore fines reached $95.8 per ton, an increase of $0.4 per ton compared to the previous period, partially offset by the negative impact of pricing mechanisms related to temporary price adjustments from the previous period. In its statement, Vale S.A. Sponsored ADR said that copper production totaled 102.3 thousand tons, an increase of 13% (11.4 thousand tons) year-on-year, mainly driven by record production in the Salobo and Sossego mining areas, as well as solid performance in the Voisey's Bay polymetallic mine. In the copper and nickel businesses, production both achieved double-digit growth. Copper production recorded its best first-quarter production since 2017, while nickel production reached a new high since the same period in 2020. The average realized price for copper was $13,143 per ton, an increase of $2,140 per ton compared to the previous period, reflecting the rise in London Metal Exchange (LME) prices and the favorable impact of final price settlements in the current pricing environment. The average realized price for nickel was $17,015 per ton, an increase of $2,000 per ton compared to the previous period, mainly driven by the increase in LME prices. The complete financial statements for the first quarter of 2026 for Vale S.A. Sponsored ADR will be released on April 28th.