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Name | Symbol | Market | Type |
---|---|---|---|
Vale SA | NYSE:VALE | NYSE | Depository Receipt |
Price Change | % Change | Price | High Price | Low Price | Open Price | Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
0.2286 | 1.90% | 12.2886 | 12.35 | 12.16 | 12.18 | 21,435,374 | 00:45:13 |
By Rogerio Jelmayer
SÃO PAULO -- Brazilian mining giant Vale SA saw a slight decline in its production of iron ore in the second quarter, while the price of the commodity has recovered this year.
Vale, the world's largest iron-ore mining company, on Thursday said it produced 86.82 million tons of the commodity in the April-to-June period, down 2.8% from a year earlier, when it reached a record. Compared with the first quarter, the company's production of iron ore increased 12%.
So far this year, iron ore prices have increased more than 20%.
Meanwhile, Vale produced increased amounts of nickel and copper production in the second quarter.
Also the world's largest nickel producer, Vale's output of that base metal rose 17% in the second quarter to 78,500 metric tons. Production of copper was up 2.4% in the quarter at 107,400 tons.
Conversely, the company's coal output dropped 25.2% in the quarter to 1.5 million tons.
Write to Rogerio Jelmayer at rogerio.jelmayer@wsj.com<mailto:rogerio.jelmayer@wsj.com>
(END) Dow Jones Newswires
July 21, 2016 08:08 ET (12:08 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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