Vale expects nickel output in 2024 between 153 kt and 168 kt, down from the earlier stated 160-175 kt. In 2023, it had produced 164.9 kt of nickel. The revised guidance indicates a year-over-year decline of up to 7.2% to growth of up to 1.9%.

Another broker jumps on the US$80 tonne iron ore train. The post Iron ore price 'may fall below $US80': Will ASX 200 mining giants still make decent profits? appeared first on The Motley Fool Australia.

The short-cover rally Goldman analysts forecasted early last week in Chinese iron ore prices has completely reversed. After all, analysts from

Goldman Sachs on Monday cut its iron ore price forecast for the fourth quarter of 2024 by $15, to $85 per metric ton, citing market oversupply even though demand from top consumer China is stabilizing.

Bank of America cautioned that the price of Australia’s key export could slump more than 10 per cent, which would force a new wave of miners to exit the market.

The price of iron ore has dropped to its lowest in nearly two years, a drain on profits for some of the world’s biggest miners.

Things are not looking positive for Australia’s key commodity. The post Why the iron ore price could have further to fall appeared first on The Motley Fool Australia.

Vale S.A. (NYSE: VALE) made headlines today by raising its full-year 2024 iron ore production forecast, reflecting its strategic efforts to navigate challenging market conditions. The Brazilian mining giant expects to produce between 323 million to 330 million metric tons of iron ore this year,