Vale’s iron ore production may be affected by last week’s fire incident at its pier 4S shiploader at Ponta da Madeira maritime terminal (TPPM) in São Luís, Maranhão.
According to media reports, citing a note from the Brazilian bank BTG Pactual, the fire may reduce the company’s output to reach the lower range of its production guidance of 315- 335mn mt for this year. Reports estimate Vale will produce 320mn mt of iron ore this year because of the fire. However, the terminal remains in operation, with no impact on the monthly iron ore shipment schedules, for now, media reports indicated.
TPPM, which has a loading capacity of around 230mn mt per year, represents one of Vale’s main assets and exports to China, Japan, South Korea, Omã, Holland, and Italy.