Vale’s net profit declines in َQ2 2022

Brazilian miner Vale posted a net profit of $4.09 billion for the second quarter of 2022, against $4.46 billion achieved in the previous quarter and $8.15 billion achieved in the second quarter of 2021.

The decline reflects mainly the lower iron ore fines prices over the period, which were partially compensated by the increased volumes sold in the first half of 2022.

According to the company, earnings before interest, taxes, depreciation and debt (EBITDA) for the first quarter of 2022, $6.374 billion, were positively affected by $1.376 billion through increased sales and negatively affected by $1.805 billion due to the price decline, and by 110 $1 million due to exchange rate changes, $175 million in freight rates and $126 million in other costs and expenses, resulting in an EBITDA of $5.534 billion for the second quarter of 2022.

During the second quarter of 2022, the average realized price of the iron ore fines was $113.3/mt, a decline of $28.1/mt from the first quarter of 2022, including a lower premium derived from higher silica contents in the mix of ores.

For pellets, the average realized price during the second quarter of 2022 was $201.3/mt, $6.6/mt higher than in the previous quarter.

During the second quarter of 2022, Vale produced 74.1 million mt of iron ore fines and 8.67 million mt of pellets, an increase of 17 per cent and 25.1 per cent from the previous quarter, respectively.

Share on twitter
Share on facebook

Related News


Latest News

About AISU

Arab Iron and Steel Union ( AISU ) was established in Algeria in 1971 as the first Arab union of Arab countries to be established under the umbrella of the Council of Economic Unity in the League of Arab States.

AISU is a non-governmental organization of a private nature, not of a political or commercial nature.

AISU works in the field of preparing studies, organizing courses and holding periodic conferences for the prosperity of the Arab iron and steel industry. The union includes a wide range of companies with multiple activities related to the iron and steel industry.

Information About Union

92 Members

28 Board of Directors

17 Country

300.000 Employees

Subscribe Newsletter

Contact us

General Secretariat
Tel +21323304221 Fax +21323304254
Mail: relex@solbarab.org

Cairo Regional Office
Tel +20233356219 Fax +20233374790
Mail: aisucairo@solbarab.org

All rights reserved Arab Iron and Steel Union | 1971 - 2022

Powered by Mohamed Hamed