Vale achieved a price of $68.40 per wet metric tonne for its iron ore fines in the fourth quarter of 2018, the company said in an earnings report on Wednesday March 27.
In the fourth quarter of 2017, Vale's realized price for the material was $63.10 per wmt.According to the miner, the premium received for higher-quality iron ore fines stood at $8.10 per tonne in the fourth quarter of 2018, up from $3.90 per tonne a year earlier.Prices in the seaborne market have increased for higher-grade, lower-impurity products because Chinese steel mills have been looking to improve productivity, hence the quality premium. However, buyers have recently become less sensitive about impurities, including alumina content.Vale...