Vale (NYSE:VALE) indicated in its quarterly production report that its Q4 2021 iron ore output declined 2.4% year-over-year and 7.8% sequentially to 82.5 million metric tons.
While Vale noted in October 2021 that it would slow down iron ore production in Q4 due to lower prices, production was also impacted by heavy rains in northern Brazil.
The slight decline in production is unlikely to impact Vale stock considering that iron ore prices are up by almost 60% from their November 2021 lows.
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