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Vale profits expected to drop 30% on iron ore and nickel price slump
Post Date: 08 Aug 2013 Viewed: 359
According to the average preliminary estimates of seven analysts surveyed by Reuters, Vale is expected to report a 30% YoY drop in second quarter profits August 7,
Most of the decline is due to a 12% drop in average iron ore prices and a 38% decline in nickel prices, more than offsetting increases in volumes shipped by the world's No 1 iron ore miner and No 2 nickel producer.
