Brazilian miner Vale on Wednesday lowered its forecast for iron ore agglomerates production in 2025

Without market prices for energy resources, the company will be on the verge of closure, and tens of thousands of people will be out of work

2024-2025 will be marked by a large number of M&A deals in the iron and steel industry, transforming the landscape of the global steel industry

The industry faces high energy prices and excessive regulation

The proposal was made against the backdrop of the cancellation of green projects in the country

World crude steel production for the 70 countries reporting to the World Steel Association (worldsteel) was 158.8 million tonnes (Mt) in May 2025, a 3.8% decrease compared to May 2024.

Rio Tinto and Hancock Prospecting will invest $1.61-billion to develop the Hope Downs 2 iron-ore project in the Pilbara, aiming to sustain long-term output from their joint operations in the region.

Iron-ore shipments from the largest bulk-export terminal set a record for the month of May, putting flows at the biggest year-to-date volumes even after weather issues curbed exports earlier in 2025.