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Stock impact report

China Stimulus Optimism Supports Iron Ore Prices [Seeking Alpha]

VALE S.A. American Depositary Shares Each Representing one common share (VALE) 
Last vale s.a. american depositary shares each representing one common share earnings: 4/29 04:02 pm Check Earnings Report
US:NYSE Investor Relations: vale.com/en/investors/pages/default.aspx
Company Research Source: Seeking Alpha
We believe prices will be supported looking into 2024 amid optimism around China's recovery and further support for the country's property sector. Iron ore prices are set to remain volatile as the market continues to respond to any policy change from Beijing. Iron ore holds above $100/t in 2023 Iron ore prices have managed to stay above the key $100/t mark for most of the year. Prices are now trading at their year-to-date highs, fuelled by strong demand and multi-year low inventory levels in China. Over the last couple of months, the Chinese government has moved forward with a series of stimulus measures to turn around its ailing economy, which have supported iron ore prices. However, there are still concerns when it comes to China's economy, particularly surrounding anything related to the property sector, which accounts for about 40% of the demand for iron ore. The country's property new home starts - the biggest steel demand driver - fell sharply in 2023, now down more tha Show less Read more
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