Movement Alert|Vale Rises 3.32% in Regular Trading, CEO Raises Full-Year Iron Ore Price Forecast to $112/Ton Amid Middle East Supply Disruption

Market Focus06-12

On June 12, Vale rose 3.32% in regular trading, trading at $15.455/share, with turnover of $324 million. The stock rebounded strongly from its recent two-month low as bullish catalysts emerged across the iron ore market.

On the news front, Vale CEO Gustavo Pimenta stated that no war-related demand collapse has been observed in global metals markets, and raised the company's full-year iron ore average price forecast to $112/ton, up from the pre-conflict estimate of $102/ton. The company also lifted its core iron ore business full-year free cash flow expectation by $1.5 billion to reflect the post-conflict price rally. Meanwhile, iron ore futures on China's Dalian Commodity Exchange surged over 5% in a single session, with cumulative gains exceeding 30% over two months, driven by supply disruption concerns.

Within the Steel and Iron sector, the broad rally was evident. Among individual stocks, Cleveland-Cliffs rose 9.83%, ArcelorMittal rose 8.09%, Steel Dynamics rose 4.73%, Nucor rose 4.26%, and Reliance Steel rose 3.85%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment