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MarketScreener Homepage  >  Equities  >  Bolsa de valores de Sao Paulo  >  Vale S.A.    VALE3   BRVALEACNOR0

VALE S.A.

(VALE3)
  Report
End-of-day quote. End-of-day quote Bolsa de valores de Sao Paulo - 01/17
57 BRL   +3.32%
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China November iron ore imports down for second month as top miners ship less

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12/08/2019 | 06:18am EST
Piles of imported iron ore are seen at a port in Zhoushan, Zhejiang

China's iron ore imports fell for a second straight month in November, customs data showed on Sunday, as lower shipments from top miners in Australia and Brazil overshadowed firm demand for the steelmaking ingredient at mills.

The world's top steel producer brought in 90.65 million tonnes of iron ore last month, down 2.4% from 92.86 million tonnes in October and compared with 86.25 million tonnes a year earlier, data from the General Administration of Customs showed.

For the first 11 months of 2019, iron ore arrivals reached 970.69 million tonnes, down 0.7% on an annual basis.

Data from Australia's Port Hedland showed it shipped less iron ore to China in October, down 0.7% from a month earlier.

Brazilian miner Vale, meanwhile, has halted production at various mines after a deadly dam collapse in early January and has forecast a near 15% sales drop in 2019.

"Miners (in Australia) are undergoing maintenance after a strong financial year," Darren Toh, an analyst with Tivlon Technologies, said before the data was released.

The softening of Australian shipments coincided with wet weather conditions kicking in in Brazil, he added.

Inventories of imported iron ore at Chinese ports fell to 129.4 million tonnes by the end of November, logging the first monthly drop in five.

Despite seasonal factors, analysts remained optimistic about iron ore demand in coming months as profits recovered at Chinese mills after a pick up in construction in November.

"The profit (for mills) is at about 600-700 yuan ($85-$99) per tonne now, which is pretty good and could help lift iron ore demand and prices," said Zhao Yu, analyst with Huatai Futures.

More infrastructure projects are also expected to start up after the Chinese Lunar New Year, Tivion's Toh said.

Utilisation rates at China's steel mills rose to 65.88% by end-Nov, up from 63.54% from the end of the previous month, data compiled by Mysteel consultancy showed.

(Reporting by Min Zhang and Gabriel Crossley; Editing by Himani Sarkar)

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Financials (USD)
Sales 2019 37 345 M
EBIT 2019 11 119 M
Net income 2019 1 213 M
Debt 2019 5 392 M
Yield 2019 -
P/E ratio 2019 16,8x
P/E ratio 2020 5,93x
EV / Sales2019 2,03x
EV / Sales2020 1,92x
Capitalization 70 244 M
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Technical analysis trends VALE S.A.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 9
Average target price 15,68  $
Last Close Price 13,70  $
Spread / Highest target 57,2%
Spread / Average Target 14,5%
Spread / Lowest Target -46,6%
EPS Revisions
Managers
NameTitle
Eduardo Bartolomeo Chief Executive Officer
José Maurício Pereira Coelho Chairman
Luciano Siani Pires Chief Financial Officer
Oscar Augusto de Camargo Filho Director
Dan Antonio Marinho Conrado Director
Sector and Competitors
1st jan.Capitalization (M$)
VALE S.A.3.51%69 821
FORTESCUE METALS GROUP LIMITED2.90%24 153
KUMBA IRON ORE LIMITED2.81%9 580
NMDC LTD0.50%5 585
XUANHUA CONSTRUCTION MACHINERY CO., LTD.--.--%1 435
FERREXPO PLC-1.73%1 194