Brazilian mining giant Vale SA reported second-quarter earnings that trailed expectations as weaker metal prices and sluggish sales countered production growth.

The world’s second-largest iron ore producer is attempting to blunt the impact of a demand slowdown by mining rich deposits in the Brazilian Amazon at record rates. But sales lagged output last quarter even as Vale resolved rainy-season disruptions at ports and benefited from higher nickel and copper output.

Vale joined other large mining companies to post steep falls in profit as China’s economic slowdown dampens sales. China’s output grew more slowly than expected last quarter and other data is flashing warning signs on everything from consumption to trade.

Adjusted earnings before items came in at $4.15 billion last quarter, the company reported Thursday. The result trailed the $4.27 billion average analyst estimate and was well below the year-ago period.

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On a net basis, profit tumbled as local currency appreciation compounded lower prices. Still, Vale’s board approved the distribution of 8.3 billion reais ($1.7 billion) in interest on capital, to be paid in September.

On a call Friday, investors will be looking for an update on the sale of a stake in its multibillion-dollar base metals business, insights into Chinese demand and the firm’s willingness to deliver iron ore that it stockpiled in the first half. Developments on a final settlement for a 2015 tailings dam disaster may also be on the radar.

(Adds net income in penultimate paragraph)