Vale Results Presentation Deck
Vale's product portfolio premiums widened in Q1
Average spread to IODEX 62% (US$/dmt)
MB 65% Fe index
MB 62% Fe Low Alumina index
11,1
8.3
1,1
-16,1
2019
13,4
5.3
1,3
-19,0
2020
MB 58% Fe index
Vale's all in premium²
25,9
6.9
1,7
-41,4
2021
1 Until April 25th 2022. 2 2019 and 2020 figures Include Midwestern System.
27,8
9.1
4,8
-53,0
2022YTD¹
CO₂
O
Long term drivers: Greener steelmaking
Investment requirement for steelmakers
●
●
Short term drivers: Supply chain disruptions
High coke costs
Concentrates restrictions
• Peers' replacement and disruptions in Brazil
●
Higher reductant costs
Limited supply of high-quality ores
●
Vale is improving its premium portfolio (e.g.
tailings filtration plants, IOCJ, concentration plants)
VALE
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