Vale Shares Shed $17 Billion as Iron Ore Slump Foils Turnaround
A weaker China economy and battered iron ore prices have helped drive down Vale SA 's stock, making investors wary of uncertainties plaguing one of the world's top suppliers of the steelmaking ingredient.
A persistent crisis in China's property sector and its impacts on iron ore — a metal that accounts for roughly 80% of Vale's revenue — have led investors to trim allocations in the Brazilian company in the past year. That has sent Vale shares to their lowest level since 2020, erasing more than 100 billion reais ($17 billion) in market value in 2024.
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