After a 28% drawdown in just three months, shares of Vale SA (VALE) simply look too cheap to ignore. At current levels, I am bullish on Vale. It had been a banner year for Vale and many other players in the commodities world, as the reflation trade and soaring demand for raw materials grew. Founded in 1942, Brazil-based Vale SA produces and exports iron ore, pellets, manganese, and iron alloys, which are used as raw materials in steelmaking. It operates through the following segments: Ferrous Minerals, Coal and Base Metals. When much of the world came out of lockdown, it breathed new life into the energy and mining sectors.
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Vale (NYSE:VALE)
Historical Stock Chart
From Dec 2021 to Jan 2022 Click Here for more Vale Charts.
Vale (NYSE:VALE)
Historical Stock Chart
From Jan 2021 to Jan 2022 Click Here for more Vale Charts.