Brazilian miner Vale has lowered its fourth-quarter premiums for direct-reduced (DR) and blast furnace (BF) iron ore pellets, with DR pellet premiums now at $48 per dry metric tonne, down from $50 in the previous quarter. This marks the third consecutive reduction since the start of the year. The decline reflects sluggish demand from manufacturing and construction sectors, compounded by competitive steel exports from China. As a result, steelmakers in regions like the Middle East and Turkey are seeking cost-effective alternatives to maintain margins amid falling finished steel prices.