ETBy Jeffrey T. Lewis- Advertisement -SÃO PAULO–Brazilian iron miner Vale’s shares rose 1.5% Tuesday after new loan-relief programs were announced in China for ailing real-estate developers. Vale’s shares reached 65.43 reais, equivalent to $13.31, which marks a 27% decrease from the end of the previous year until Monday’s closing. However, the initial market reaction has been positive, with Vale’s shares experiencing a 1.5% increase following the announcement. In the end, Vale’s shares rose 1.5% after new loan-relief programs were announced in China for struggling real-estate developers. This news brings hope for increased demand for Vale’s iron ore output, as Chinese steelmakers rely on large quantities of iron ore to produce construction materials.

Source: Wall Street Journal July 11, 2023 16:28 UTC