Vale (VALE) stock drops 5% as China PMI slips — what to watch before Feb. 12 results
Vale shares fell 5.1% to $16.07 Friday after China’s January factory PMI dropped to 49.3, signaling weaker demand. Vale paused operations at two Brazilian sites due to water overflows, with local permits suspended. The company reaffirmed its 2026 iron ore output target and will report quarterly results Feb. 12.