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Vale S.A. (VALE)

  • Jun. 13, 2013, 2:34 PM
    Rio Tinto (RIO +3.4%) shares are strong after the selling one of its U.S. mines and stating its intention to dump others. The sale wouldn't suffice to move the needle, but combined with other potential sales "raises the potential for capital management in early 2014," Citigroup says. J.P. Morgan says concern over iron ore prices is excessive. Other base metals miners are up: CLF +6.6%, BHP +1.8%, VALE +4.9%.
    | Jun. 13, 2013, 2:34 PM | Comment!
  • Jun. 12, 2013, 2:47 PM
    Mining companies were supposed to invest $1.5B in Guinea this year but instead a 30% drop is feared as miners cut capex for projects and China growth slows. Case in point: Rio Tinto (RIO) won't meet its 2015 target date for production at its $20B Simandou iron ore project. Guinea's $5B economy relies heavily on mining, accounting for 20% of GDP, 30% of export revenues and 80% of foreign currency inflow.
    | Jun. 12, 2013, 2:47 PM | Comment!
  • Jun. 11, 2013, 9:44 AM
    Vale (VALE -2.6%) sinks to a 52-week low at the open amid concerns about Chinese economic growth and deteriorating investor sentiment toward Brazil. China is critically important for Vale: It's not only the miner's biggest market but also the setter of global benchmark prices for iron ore, which generates virtually all of Vale’s cash flow. Also, Vale must deal with domestic political uncertainties that rival miners don’t.
    | Jun. 11, 2013, 9:44 AM | Comment!
  • Jun. 11, 2013, 7:58 AM
    Clients were net sellers of stocks in May, according to the TD Ameritrade Investor Movement Index. The gauge declined for a 2nd consecutive month to 5.02 from 5.31 previously. Clients were net buyers across the materials sector (XLB), but reduced exposure elsewhere. After steadily accumulating the stock for months, clients turned net sellers of Apple (AAPL). Other tech names seeing selling: MSFT, CSCO, INTC. Notable buying activity: TSLA, BRK.B, KMP, VALE, LINE.
    | Jun. 11, 2013, 7:58 AM | 15 Comments
  • Jun. 10, 2013, 7:07 PM
    Allana Potash (ALLRF.PK), the developer of a $642M potash mine in Ethiopia, says predictions of a global oversupply of potash are overblown because forecasts include mines that aren’t yet in production and may be shelved or canceled because of rising construction costs. Cantor Fitzgerald shares the view: "The fears come from the fact that there is overcapacity, but there certainly isn’t oversupply."
    | Jun. 10, 2013, 7:07 PM | 2 Comments
  • Jun. 5, 2013, 11:13 AM
    Cliffs Natural Resources (CLF -3.4%) is among the S&P's worst performers, as global iron ore capacity is expected to increase faster than demand from China, continuing to weigh on prices, according to the head of Baosteel, China's third-biggest mill. Steel output growth has dropped to less than 5%/year from 20% between 2000-06. BHP -2.9%, RIO -1.8%, VALE -1.8%. (also)
    | Jun. 5, 2013, 11:13 AM | Comment!
  • May 31, 2013, 4:45 PM
    Iron ore prices suffered their worst week in more than a year, and Barclays believes the drop likely will continue as significant new capacity enters the market between now and the end of 2014 with softer demand growth magnifying the effects. No surprise that iron miners are hurting: VALE -4.6% today and -7.7% this week, CLF -3.6% today and -12.8% this week, RIO -4.1% and -2.9%, BHP -2.9% and -3.4%.
    | May 31, 2013, 4:45 PM | 3 Comments
  • May 31, 2013, 3:49 PM
    Several Brazilian stocks hit 52-week lows in U.S. trading, as investors look to an early exit of stimulus measures by the country's central bank, which intervened to stabilize the real. VALE -4.8%, SID -4.8%, GGB -4.8%. Petrobras (PBR -2.5%) also moves lower as it reports April production of 2.55M boe/day, up more than 2% from March but flat vs. the prior year.
    | May 31, 2013, 3:49 PM | 5 Comments
  • May 30, 2013, 11:47 AM
    Prices of iron ore hit a seven-month low today, and are down 30% since hitting a year high in February, as prices get hit by a demand slowdown in China and a glut of supply. Analysts are predicting more declines, with Westpac projecting iron ore prices to drop to as low as $85 a ton by the end of September. Liberum Capital notes that its channel checks show the price may fall below $90 a ton. "The market is flush with product at the moment," says RBS Morgans resources analyst James Wilson. "Pricing power has switched from the iron-ore miners to the steel mills."
    | May 30, 2013, 11:47 AM | 7 Comments
  • May 29, 2013, 11:54 AM
    Vale (VALE) reportedly wants ThyssenKrupp to partially reimburse it for some of the $550M in extra costs their CSA slabmaking partnership in Brazil incurred over the past four years, adding a potential hurdle to the sale of the money-losing steel mill. The German steelmaker spent more than $8B in its Brazilian foray, which has been plagued by a weak global economy and increasing operating losses.
    | May 29, 2013, 11:54 AM | Comment!
  • May 28, 2013, 11:22 AM
    Vale (VALE) receives a concession for iron-ore exploitation at the Minas Gerais municipality of Mariana calling for ~20M/year metric tons of production on reserves of nearly 65M tons. Vale is seeking to expand production to replace its dwindling deposits elsewhere in the Minas Gerais state in Brazil.
    | May 28, 2013, 11:22 AM | Comment!
  • May 14, 2013, 5:36 PM
    Vale (VALE) resumes coking coal shipments from its Moatize operation in Mozambique, following a two-day stoppage due to the blockading of the Linha do Sena Railway by brickmakers demanding additional compensation for lost production for up to two family generations.
    | May 14, 2013, 5:36 PM | Comment!
  • May 13, 2013, 2:59 PM
    Shipments of coal from Vale's (VALE -1.1%) Moatize operation in Mozambique are halted for the second time in less than a month amid protests by displaced brickmakers. The brickmakers are said to be requesting compensation for lost production of up to two family generations. Between 10K-12K metric tons of coal are shipped daily from Moatize.
    | May 13, 2013, 2:59 PM | Comment!
  • May 9, 2013, 2:37 PM
    Vale (VALE -1.2%), unhappy with its declining share in the Brazilian iron ore market, will work to rebuild this core area of its business while keeping steel investments at arm's length, CEO Murilo Ferreira says. Vale's attitude toward the steel sector betrays a shift in strategy over recent years and reflects a broader austerity effort amid greater volatility in iron ore prices.
    | May 9, 2013, 2:37 PM | Comment!
  • May 7, 2013, 3:26 PM
    Vale (VALE +3%) says it hasn't been contacted by ThyssenKrupp about a reported proposal to increase its stake in a troubled Brazilian steel mill. The German steelmaker is seeking to sell two plants in the Americas, including one near Rio de Janeiro in which Vale has a 27% stake. One proposal was said to have Vale increasing its stake in the mill to 33%.
    | May 7, 2013, 3:26 PM | Comment!
  • May 3, 2013, 2:32 PM
    Vale (VALE +2.7%) says it won't play an active role in the change of ownership at Companhia Siderurgica do Atlantico, a loss-making steel mill in Brazil, and plans only to maintain existing supply contracts. Vale owns a 26.87% stake in the JV with ThyssenKrupp, which put its stake up for sale after losing billions of dollars on the projects in recent years. (earlier)
    | May 3, 2013, 2:32 PM | Comment!
Company Description
Vale SA is a metals & mining company. It produces & supplies iron ore, iron ore pellets, nickel, manganese ore, ferroalloys, copper, coal, phosphates, potash, cobalt & others.
Industry: Steel & Iron
Country: Brazil