Vale rose 2.53% on Friday as Chinese mills kept restocking iron ore despite weak steel margins. CSN Mineração and Rio Tinto also gained.
Key Facts
Vale’s US-listed shares closed at US$14.59 on Friday, up 2.53% on the session.
CSN Mineração settled at R$5.90 (about US$1.14), a gain of 4.80% in São Paulo trading.
Rio Tinto’s US shares ended Friday at US$105.30, up 3.06% as investors tracked the same China demand story.
Benchmark iron ore settled at US$95.21 per tonne on Friday, up just 0.05% in a tight band.
Vale's US shares dipped 0.07% as China steel demand worries overshadowed a Brazil rate cut. CSN Mineração tumbled 5.22% on Friday.
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