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.)
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