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VALE update AM Monday

|Includes:Vale S.A. (VALE)
VALE: Steelmakers have accepted iron ore pricing changes as mentioned in earlier article. Prices in the 2Q will probably be above US$100/mt -120/mt(FOB Brazil) and higher in the 3rd and 4th quarter 2010. Iron ore prices could increase by 120- 140% from existing levels,

Vale's EBITDA could reach US$40bn- 45bn.

Expect VALE to trade up this AM and consider target of 45 per share to still be reachable in 12 months or less

Oil moving above 85 and could see 86-86.50 interday today
Stocks: VALE