Movement Alert|Vale Rises 3.09% in Regular Trading, Major Shareholder Pushes Chairman Removal Amid Iron Ore Price Upgrade

Market Focus06-15

On June 15, Vale rose 3.09% in regular trading, trading at $16.275/share, with turnover of $194 million, leading the Steel & Iron sector against the broader trend.

On the news front, Vale's largest shareholder Previ formally requested a special shareholders' meeting on June 12 to remove current Chairman Daniel Andre Stieler and nominate Manuel Oliveira as his replacement, citing the need to strengthen corporate governance and elevate strategic management. On the fundamental side, Vale's CEO previously stated that Middle East conflicts have not caused a collapse in global metals demand. The company has raised its full-year iron ore average price forecast from $102/ton to $112/ton, with core iron ore business full-year free cash flow expectations upgraded by $1.5 billion.

Within the Steel & Iron sector, Vale's rise contrasted sharply with peers: Nucor down 2.41%, Steel Dynamics down 3.03%, Cleveland-Cliffs down 2.93%, ArcelorMittal down 1.29%, and Reliance Steel & Aluminum down 1.28%.

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