Vale Results Presentation Deck
Vale's Performance in 2022: Base Metals
Decrease in forward copper prices and
hedge in nickel weighed on price realization
Q2 Realized prices: Copper business¹
Average LME Cu Price
Provisional price adjustments
QP2, final prices and others
Copper realized price
before discounts
LME comparable
TC/RC³ premium and discounts
Copper Realized Price
9.513
6.958
6.493
2.976
421
-01
465
Marked-to-
market position
End Q2: 31.7 kt
@ ~US$8,300/t
End Q1: 44.5 kt
@~US$10,400/t
Q2 Realized prices: Nickel business
Average LME Ni Price
Class 1 Premiums
Class 2 and Intermediates
Timing effects (QP² and others)
Nickel Price after Premium/
Discount and timing effects
FFP4 sales
Hedge Impact
Nickel Realized Price
¹ Sossego and Salobo only. Copper revenues from Canadian operations are accounted as Nickel by-products. 2 Quotational period. 3 Treatment Charge (TC) and Refining Charge (RC). 4 Firm Fixed Price.
28.940
29.367
26.221
905
795
317
261
2,885
VALEView entire presentation