Forecast Of The Day: Vale’s Iron Ore Shipments
Vale’s (NYSE:VALE) Iron Ore Shipments declined from 268 million tons in 2019 to about 254 million tons in 2020. However, Trefis expects the metric to rise to about 279 million tons in 2021 and to about 288 million tons in 2022.
While 2020 figures were hurt by the disruption caused by Covid-19, we expect shipments to rise in the long run, driven by the expansion of Vale’s iron ore production capacity and supporting logistics infrastructure.
Vale stock has underperformed declining by 20% year to date, despite growing iron ore output, as ore prices have come under pressure recently.
See Our Complete Analysis For Vale
What if you’re looking for a more balanced portfolio instead? Here’s a high-quality portfolio that’s beaten the market consistently since 2016.