Bearish Bets on Vale Surge to Record High as Iron Ore Retreats
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Traders are increasing bets that Vale SA is poised for further declines after its shares hit a 10-year low.
Short interest in American depositary receipts from the world’s largest iron-ore producer jumped to a record 27.4 percent of shares outstanding Monday, according to data compiled by London-based Markit and Bloomberg. The ADRs added 0.2 percent to $6.12 at the close of trading in New York, paring losses in 2015 to 25 percent. They dropped 46 percent in 2014.