Vale Set for Worst Losing Streak Since 2008
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Vale SA, the world’s largest iron-ore producer, posted its worst streak of monthly losses in five years as prices for the steel-making ingredient sink.
The shares fell 3.8 percent to 25.64 reais at the close of trading in Sao Paulo today, bringing losses this month to 3 percent. The stock capped its seventh monthly drop, the longest losing rout since 2008. Brazil’s benchmark Ibovespa gauge dropped 0.8 percent in May, snapping two months of gains.