Vale Shares Fall on Concern About Iron-Ore Price Reductions
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Vale SA, the world’s largest iron-ore producer, fell the most in three weeks on concern it is cutting prices for the steel-making material.
Vale dropped 6.1 percent to 38.66 reais at 2:44 p.m. Sao Paulo time, leading decliners. The benchmark Bovespa index slipped 2.5 percent. Shares have fallen 18 percent in the past year, compared to the Bovespa’s 25 percent drop.