|Bid||13.71 x 34100|
|Ask||13.72 x 29200|
|Day's range||13.69 - 13.89|
|52-week range||10.89 - 16.13|
|Beta (3Y monthly)||0.32|
|PE ratio (TTM)||21.20|
|Forward dividend & yield||N/A (N/A)|
|1y target est||15.23|
Vale S.A (VALE) maintained 2019 iron ore and pellets sales guidance at 307-332 Mt and stated that its expected sales volume will move toward the midpoint of the range.
Vale S.A's (VALE) annualized iron ore production is affected by about 92.8 Mt owing to suspended various operations, following the dam disaster.
Brazilian mining company Vale SA said on Monday it would pay 400 million reais ($106.52 million) to compensate workers affected by the deadly rupture of a tailings dam in January that killed at least 240 people. In a statement, Vale said the deal also involves individual compensation for moral and material damages, including job stability and other benefits for a certain period of time. In May, the company said it was taking $2.42 billion in writedowns for payments to victims' families and estimated out-of-court settlements for various damages related to the dam collapse, including $247 million for a "framework agreement" with labour prosecutors.
Cleveland-Cliffs (CLF) is set to release its Q2 earnings before markets open on July 19, and hold a conference call with analysts and investors at 9:00 AM Eastern Time that day.
China consumes more than 70% of seaborne-traded iron ore. As a result, iron ore investors should track China's demand and outlook. Today, China released its trade data for June. China's iron ore imports were 75.18 million tons in June—9.7% lower YoY (year-over-year) and 10.2% lower month-over-month. In June, China's imports fell to the lowest level […]
The good news for Rio was really based on bad news for the iron-ore sector -- or at least for iron-ore customers
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Brazilian mining giant Vale SA has been hit with its first conviction for a rupture of a containment dam that sent a tidal wave of mining waste through a rural community, killing nearly 300 people in January. A state court announced the conviction in a statement posted on its website Tuesday. Judge Elton Pupo Nogueira ordered Vale to pay for repairing "all the damages caused by the tragedy." He did not set a specific amount for the company to pay, but said the costs will be related to the deaths as well as damage to the environment and local economy.
A Brazilian state judge on Tuesday convicted mining company Vale SA for damages caused by the deadly rupture of a tailings dam in January that killed at least 240 people. Judge Elton Pupo Nogueira ruled that Vale is responsible for fixing all the damages, although he did not set a monetary value for compensation, the Minas Gerais state court said on its website. The 11 billion reais (£2 billion) in Vale assets already frozen by courts will remain blocked, the court said.
Iron ore prices witness a sudden volatility on reports that the Chinese government is likely to act upon complaints from Chinese steel mills regarding soaring iron prices.
China’s central government is paying close attention to the sharp rise in iron ore prices. The CISA asked the government to investigate the spike.
Vale S.A (VALE) has undertaken measures to stabilize structures following the damage done by the dam rupture, reduce tailings flow and rebuild public facilities.
Following anticipation of supply crunch from the world's two largest iron ore exporters, Brazil and Australia, iron ore prices are trending above $100 per ton, at levels last seen in 2014.
Dalian iron ore futures surged to a record peak on Friday and posted their biggest weekly gain since February, buoyed by expectations of sustained tightness in supply and brisk demand amid China's renewed drive to support its slowing economy. The most-actively traded September iron ore contract on the Dalian Commodity Exchange rose as much as 4% to 797.5 yuan ($115.20) a tonne, the highest since Dalian iron ore futures started trading in 2013. "Chinese ore demand has been robust and is likely to remain so for the near term," said Westpac Banking Corp.
Despite the Brumadinho disaster, Vale S.A (VALE) remains focused on delivering higher margins by managing extensive supply chain, improving quality and productivity, and controlling costs.
Brazilian mining company Vale SA said it will spend $1.9 billion for the decommissioning of nine tailing dams in the Brazilian state of Minas Gerais, according to a securities filing late on Friday. The company also said it will be investing in ongoing assessments on engineering projects and expenses for other geotechnical structures. Vale's announcement follows a dam burst in January that killed hundreds - its second such disaster in three years.
Brazil's government is looking at assembling a fiscal stimulus package worth around 20 billion reais ($5 billion) to revive flagging growth and prevent the economy from falling back into recession, sources told Reuters. Stung by figures on Thursday that showed the economy shrank in the three months to March for the first time since 2016, the Economy Ministry may soon free up cash from workers' guarantee funds, the sources said on condition of anonymity. Economy Minister Paulo Guedes said on Thursday that the government is looking at freeing up active and inactive FGTS accounts, but only after fiscal and economic reforms - namely pension reform - are approved and implemented.
Why Iron Ore Prices Are Bucking the Downtrend in Metals Prices(Continued from Prior Part)Chinese iron ore inventories shrinkAs China’s (FXI) steel demand remains strong amid supply tightness, Chinese iron ore port inventories have been shrinking.
Why Iron Ore Prices Are Bucking the Downtrend in Metals Prices(Continued from Prior Part)China’s steel demandAs the supply tightness in the seaborne iron ore market continues, there’s another factor supporting prices: Chinese steel demand.