Mercado em alerta, minério de ferro evapora na bolsa: China impacta nas ações da mineradora Vale e siderúrgicas brasileiras

Market on Alert, Iron Ore Evaporates on Exchange: China Impacts Shares of Mining Company Vale and Brazilian Steelmakers

Written by Flavia Marinho

Published on 13/11/2024 at 18:22

China decepciona o mercado, e minério de ferro despenca! Ações da Vale e siderúrgicas caem com baixa na Bolsa de Cingapura e impacto é devastador

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China Disappoints The Market, And Iron Ore Plummets! Vale Stocks And Steel Companies Drop As Singapore Exchange Declines And Impact Is Devastating

The iron ore market suffers a strong impact following a decline in investor expectations regarding China. Last Friday, the December iron ore contract on the Singapore Exchange fell by 2.16%, reaching US$ 103.25 per ton. This movement directly affected the shares of Brazilian mining and steel companies, including Vale and steel sector companies.

Investors were eagerly awaiting bolder economic measures from China. It was expected that the country’s main legislative body, the Permanent Committee of the National People’s Congress, would approve significant actions to stimulate the economy, especially to address potential trade tensions with the US.

However, the decisions made did not go beyond the release of 10 trillion yuan (approximately US$ 1.4 trillion) to deal with off-balance-sheet debts, which led to disappointment.

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Vale And Brazilian Steel Companies Were Impacted

This scenario of frustrated expectations led to a wave of selling in the shares of major mining and steel companies in Brazil. Vale (VALE3) retreated by 4.61%, closing at R$ 60.63. Similarly, CSN Mining (CMIN3) fell by 5.49%, ending the day at R$ 5.85, and Usiminas (USIM5) experienced a decline of 6.02%, trading at R$ 6.25.

The only exception was Vale’s competitor, Gerdau (GGBR4), which recorded stability and closed the day at R$ 20.46, standing out in the market.

For many analysts, this drop in Vale’s shares and other Brazilian steel companies reflects the cautious stance of investors, who fear a potential slowdown in iron ore consumption in China. With the uncertain scenario, the most traded future iron ore contract on the Dalian Exchange in China fell by 1.65% and closed the day at 776 yuan (US$ 108.45) per ton. These figures highlight the market’s fragility in the face of Chinese policies.

Iron Ore Market Faces Difficulties

The situation for Vale and other Brazilian steel companies worsens when global uncertainties regarding the potential reelection of Donald Trump in the United States are factored in. Many expected China to respond with stronger policies, considering the threat of new trade barriers.

Lynn Song, chief economist for ING for Greater China, stated that the expectation was for the Chinese government to adopt a more expansive policy if Trump were to regain power.

However, without this robust economic support, the iron ore market faces difficulties. Vale and other Brazilian steel companies, which rely heavily on Chinese demand, must adopt a cautious stance while waiting for clearer definitions of international policies and the direction China intends to take.

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Market on Alert, Iron Ore Evaporates on Exchange: China Impacts Shares of Mining Company Vale and Brazilian Steelmakers

China Disappoints The Market, And Iron Ore Plummets! Vale Stocks And Steel Companies Drop As Singapore Exchange Declines And Impact Is Devastating

Vale And Brazilian Steel Companies Were Impacted

Iron Ore Market Faces Difficulties

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Market on Alert, Iron Ore Evaporates on Exchange: China Impacts Shares of Mining Company Vale and Brazilian Steelmakers

China Disappoints The Market, And Iron Ore Plummets! Vale Stocks And Steel Companies Drop As Singapore Exchange Declines And Impact Is Devastating

Vale And Brazilian Steel Companies Were Impacted

Iron Ore Market Faces Difficulties

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BRICS is preparing a payment system inspired by the Brazilian PIX that will allow direct transactions between countries using national digital currencies without relying on the dollar or Western banks as intermediaries.

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