- Iron ore mining giant Vale (NYSE:VALE) delivered a stark, three-pronged warning overnight: 1) this year's dramatic run-up isn't fully justified by the fundamentals; 2) watch out as low-cost supply is set to pick up; 3) the company is ready to compete at any price level.
- "We'll have to prepare for tougher periods," Vale's Claudio Alves said. "The price less than one month ago was more than $70. When you come back three months ago, it was $38. This shows there's a big volatility."
- VALE -0.5% premarket