SAO PAULO/RIO DE JANEIRO (Reuters) -Iron ore production from Brazilian miner Vale fell 4.6% during last year's fourth-quarter compared to the same period a year earlier, the company reported on Tuesday.

Brazilian mining company Vale has announced its highest annual iron ore production since 2018, despite a decrease in fourth-quarter (Q4) output due to a strategic focus on higher-margin products.

A weaker China economy and battered iron ore prices have helped drive down Vale SA’s stock, making investors wary of uncertainties plaguing one of the world’s top suppliers of the steelmaking ingredient.

Vale S.A., one of the world’s largest mining companies, has reported its highest annual iron ore production since 2018. This milestone comes amid fluctuating stock markets and a global shift in investment strategies.

Vale reported its highest full-year iron ore production since 2018 in 2024, despite a drop in Q4 output, with positive signs for base metals division.

Vale S.A. VALE reported iron ore production of around 85 million tons (Mt) for the fourth quarter of 2024, which was 4.6% lower than the year-ago quarter, reflecting a shift toward higher-margin products.