Capesize market sees a slow decline
The capesize market continued to cool during the past week, although rates still held above $20,000 per day. While Vale maintained its iron ore production guidance range for this year, BHP expects higher run rates in its new financial year
Vale said the lower end of its 310m–330m tonnes of iron ore production range was likely this year, meaning it will have to mine at least 90m tonnes per quarter to meet its target