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Vale's (VALE +1.4%) announced 20% cut in pellet production may hurt 2012 EBITDA by $300M, or...

Vale's (VALE +1.4%) announced 20% cut in pellet production may hurt 2012 EBITDA by $300M, or ~1.5% of expected 2012 EBITDA, according to a Citi analyst. "The wider implication is that pellet premiums have collapsed and Vale is attempting to maintain what premium is left by holding back capacity," the firm says.
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