Vale stock drops as iron ore rally cools and China policy bets get tested
Vale S.A.’s U.S. shares fell 2.4% to $13.92 in early New York trading Thursday, tracking a dip in iron ore prices after a recent rally. Benchmark February iron ore on the Singapore Exchange slipped 0.78% to $108.2 a ton. Traders cited concerns over potential market-cooling measures from Beijing. Vale’s next earnings report is expected around Feb. 18.