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Financial and capital risk management - Effects of derivatives on the income statement, cash flow and other comprehensive income (Details) - USD ($) $ in Millions | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2021 | Jun. 30, 2020
Financial instruments classification |  |  |  |
Gain (loss) recognized in the income statement | $ 856 | $ (86) | $ 417 | $ (1,470)
Financial settlement inflows (outflows) | 60 | (114) | (139) | 159
Net investments hedge |  |  |  |
Financial instruments classification |  |  |  |
Gain recognized in other comprehensive income | 202 | (119) | 42 | (639)
Thermal Coal Cash flow hedge |  |  |  |
Financial instruments classification |  |  |  |
Gain recognized in other comprehensive income | (7) |  | (7) |
Cash flow hedge (Nickel and Palladium) |  |  |  |
Financial instruments classification |  |  |  |
Gain recognized in other comprehensive income | (28) | (49) | (19) | 15
Others |  |  |  |
Financial instruments classification |  |  |  |
Financial settlement inflows (outflows) |  | 2 | 1 | 67
Derivatives not designated as hedge | Foreign exchange and interest rate risk |  |  |  |
Financial instruments classification |  |  |  |
Gain (loss) recognized in the income statement | 788 | (230) | 306 | (1,321)
Financial settlement inflows (outflows) | (11) | (25) | (224) | (70)
Derivatives not designated as hedge | Foreign exchange and interest rate risk | CDI & TJLP vs. US$ fixed and floating rate swap |  |  |  |
Financial instruments classification |  |  |  |
Gain (loss) recognized in the income statement | 326 | (185) | 52 | (865)
Financial settlement inflows (outflows) | (9) | (33) | (99) | (51)
Derivatives not designated as hedge | Foreign exchange and interest rate risk | IPCA swap |  |  |  |
Financial instruments classification |  |  |  |
Gain (loss) recognized in the income statement | 54 | (24) | 69 | (256)
Financial settlement inflows (outflows) |  |  | (18) |
Derivatives not designated as hedge | Foreign exchange and interest rate risk | Eurobonds Swap |  |  |  |
Financial instruments classification |  |  |  |
Gain (loss) recognized in the income statement |  | 7 | (28) | (27)
Financial settlement inflows (outflows) |  |  | (29) | (6)
Derivatives not designated as hedge | Foreign exchange and interest rate risk | Pre-dollar swap and forward (NDF) |  |  |  |
Financial instruments classification |  |  |  |
Gain (loss) recognized in the income statement | 411 | (28) | 206 | (173)
Financial settlement inflows (outflows) | (2) | 8 | (77) | (13)
Derivatives not designated as hedge | Foreign exchange and interest rate risk | Libor swap |  |  |  |
Financial instruments classification |  |  |  |
Gain (loss) recognized in the income statement | (3) |  | 7 |
Financial settlement inflows (outflows) |  |  | (1) |
Derivatives not designated as hedge | Commodities price risk |  |  |  |
Financial instruments classification |  |  |  |
Gain (loss) recognized in the income statement | 64 | 99 | 106 | (247)
Financial settlement inflows (outflows) | 71 | (91) | 84 | 162
Derivatives not designated as hedge | Commodities price risk | Base metals products |  |  |  |
Financial instruments classification |  |  |  |
Gain (loss) recognized in the income statement |  |  | (2) | (1)
Financial settlement inflows (outflows) | (1) | 38 | (8) | 292
Derivatives not designated as hedge | Commodities price risk | Gasoil Brent and Freight |  |  |  |
Financial instruments classification |  |  |  |
Gain (loss) recognized in the income statement | 64 | 99 | 108 | (246)
Financial settlement inflows (outflows) | 72 | (129) | 92 | (130)
Derivatives not designated as hedge | Others |  |  |  |
Financial instruments classification |  |  |  |
Gain (loss) recognized in the income statement | 4 | 45 | 5 | 98
Derivatives not designated as hedge | Others | Others |  |  |  |
Financial instruments classification |  |  |  |
Gain (loss) recognized in the income statement | 4 | 45 | 5 | 98
Financial settlement inflows (outflows) |  | $ 2 | 1 | $ 67
Vale S.A. International | Designated hedge |  |  |  |
Financial instruments classification |  |  |  |
Financial instruments designated as hedging instruments, at fair value | $ 2,331 |  | $ 2,331 |

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- Definition The fair value of financial instruments designated as hedging instruments. Hedging instruments are designated derivatives or (for a hedge of the risk of changes in foreign currency exchange rates only) designated non-derivative financial assets or non-derivative financial liabilities whose fair value or cash flows are expected to offset changes in the fair value or cash flows of a designated hedged item. [Refer: At fair value [member]; Derivatives [member]; Derivative financial assets; Derivative financial liabilities; Financial instruments, class [member]; Financial assets; Financial liabilities] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Note Expiry date 2021-01-01 -Name IFRS -Number 7 -IssueDate 2020-01-01 -Paragraph 22 -Subparagraph b -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2017-en-b&anchor=para_22_b&doctype=Standard&book=b -URIDate 2020-01-01 + Details
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- Definition The gain (loss) recognised in other comprehensive income on hedge ineffectiveness. [Refer: Gain (loss) on hedge ineffectiveness] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2020-01-01 -Paragraph 24C -Subparagraph a -Clause i -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2020-en-r&anchor=para_24C_a_i&doctype=Standard -URIDate 2020-01-01 + Details
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- Definition The gain (loss) recognised in profit or loss on hedge ineffectiveness. [Refer: Gain (loss) on hedge ineffectiveness] + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2020-01-01 -Paragraph 24C -Subparagraph a -Clause i -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2020-en-r&anchor=para_24C_a_i&doctype=Standard -URIDate 2020-01-01 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 7 -IssueDate 2020-01-01 -Paragraph 24C -Subparagraph b -Clause ii -URI http://eifrs.ifrs.org/eifrs/xifrs-link?type=IFRS&num=7&code=ifrs-tx-2020-en-r&anchor=para_24C_b_ii&doctype=Standard -URIDate 2020-01-01 + Details
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