Company reported a near 2% dip in third-quarter iron ore production.

Iron ore prices jump 4% on Tuesday with $200 in sight, extending gains spurred by disappointing output figures from top two producers.

Chinese trade data gave a mixed snapshot of neighbour Myanmar's ability to keep up metal shipments in March amid unrest after February's coup.

Vale’s iron ore output totaled 68 million tonnes in 1Q21, 14.2% higher than in 1Q20, but down 5.5% compared to the 72 million tonnes average analyst estimate.

Vale, Rio Tinto and BHP are due to report production data this week as well as give market outlooks.

The Australian Stock Exchange notched up 42 IPOs in mining-related businesses over the past 12 months despite the Covid-19 pandemic.

Goldman Sachs see prices falling back to $110 a tonne by the fourth quarter.