Vale (NYSE: VALE) will release its second-quarter results on 25th July 2018 and conduct a conference call with analysts the following day. Vale reported a 5.8% year-on-year (y-o-y) increase in volume iron ore sales for the second quarter, largely driven by a higher production level achieved in Vale’s S11D mine. Vale’s S11D’s output for the quarter alone was up by almost 23% sequentially which significantly catered to the company’s overall iron ore volume growth. China accounts for more than half of the global steel output and concerns over the country’s steel export sustainability has deterred the confidence in the country’s steel production. Since iron ore is used as a primary raw material in steel production, a pessimistic outlook on steel has, in turn, negatively impacted iron ore prices.

Source: Forbes July 23, 2018 17:26 UTC