On April 19, Vale, a global tycoon of iron ore, released its production and sales reports for the first quarter of 2022. The company forecasted it may achieve an annual production goal of 320 million to 335 million tons of iron ore after significant maintenance in the first quarter. It also expected that the whole-year nickel production will remain between 175,000 and 190,000 tons.

Vale reported that its finished nickel output in the first quarter was 45,800 tons, which decreased by 5.4% compared with the same period last year. The nickel sales during the period decreased by 18.8% year on year.