Brazilian Stocks Slump as Vale Declines After China Trade Data
- Commodity producers fall as the Asian country's trade slowed
- Miner follows drop of iron ore to lowest in seven years
This article is for subscribers only.
Brazilian stocks fell for a third straight day as raw-material producers tumbled following a report that showed trade dropped in China, the biggest foreign buyer of goods from the Latin American nation.
Vale SA, the world’s largest iron-ore miner, plunged to a 12-year low as the price for the raw material used to make steel declined to its lowest level in seven years. China’s exports fell for a fifth month and imports slumped for a record 13th straight month, albeit at a slower-than-estimated pace, the country’s customs administration said Tuesday.