Brazil’s Vale foresees cuts to iron ore output on coronavirus lockdowns

RIO DE JANEIRO, March 31 (Reuters) – Brazilian mining company Vale SA said in a presentation on Tuesday that it expects iron ore production cuts because of lockdowns imposed globally to control the spread of the coronavirus.

Vale calculates roughly 18 million tonnes of output could be interrupted in the transoceanic market. The company also said the pandemic has had limited impact on operations so far, as it has seen no interruptions in Brazilian production or Chinese ports. (Reporting by Marta Nogueira and Luciano Costa Writing Ana Mano Editing by Chizu Nomiyama)

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