Vale's Performance in 3Q22
Vale's Performance in 3Q22: Base Metals
EBITDA largely impacted by lower prices, higher fuel costs
and carry-over of inventories costs from Q2
Base Metals EBITDA 2022 vs. 3Q22
US$ million
+154
603
-287
~140
Timing impact
Ni sales-production timing gap
Ni sales lower than production
Carry-over of Ni costs
~90
US$ million
~50
Refineries and smelter PMP4 in Q2
-106
364
☐
Other relevant impacts
2022
Volume &
by-
products'
Price²
COGS &
expenses³
3Q22
Timing
impact
'Including volume and price impact from by-products. 2Excluding by-products price impact. ³Including FX and fuel costs impact. 4Planned maintenance period.
US$ million
Fuel costs
Increase in fuel prices in Indonesia
3rd party feed
Production from 3rd party feed of 6 kt in Q3 vs. 3 kt in Q2
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