Brazilian miner Vale reported on Tuesday a 5.5% increase in its third-quarter iron-ore production compared to a year earlier, reaching the highest level in almost six years.
Global mining giant Rio Tinto has reported consistent iron-ore production from its operations in Australia’s Pilbara, with third-quarter output increasing by 1% to 84.1-million tonnes.
Competition on markets which do not have their CBAMs will rise as companies facing high CBAM payments in the EU will have to search other markets for sales