Vale (VALE) Q1 net profit nearly halved to $3.83B from $6.83B the year before after slowing...

|About: Vale S.A. (VALE)|By:, SA News Editor

Vale (VALE) Q1 net profit nearly halved to $3.83B from $6.83B the year before after slowing growth in China pushed down the price of ore. Heavy rains that curtailed production were also a factor. Net revenue was $11.05B, largely in-line with consensus and down 16% from the year before.