Two Scenarios That Could Impact Vale's Stock Price

We expect iron ore prices to remain subdued in the near term, with prices recovering gradually only after the global supply glut dissipates. However, there is a possibility of a sharper V-shaped recovery in prices, if sufficient high-cost iron ore supply goes out of the market. The current level of iron ore prices is too low to sustain significant quantities of high-cost iron ore production, particularly from domestic Chinese iron ore producers. Production cutbacks in response to low prices are ...