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Vale sales surge as iron ore, copper exports shine

Brazil 360 China 2778 Earnings 587 Materials - Metals/Mining 674 Metals - Copper 63 Metals - Steel 462 Quote Watch 354

Vale reported revenue growth of 48.2% year over year in Q4’20, beating analysts’ estimates by 8.3 percentage points on the strength of an increase in iron ore sales. Panjiva’s data shows Vale’s Brazilian iron ore exports rose by 37.8% year over year in Q4’20, driven by a 65.9% surge in shipments to China potentially linked to the latter’s trade spat with Australia. The firm is also “very bullish on copper so we’re going to invest” according to CEO Eduardo de Salles Bartolomeo. Brazilian copper exports linked to Vale jumped 124% higher year over year in Q4’20, dragging total Brazilian exp...

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