NYSE:VALE 10 October 2025 - 23 December 2025

According to the IBGE agency, factory‐gate prices in Brazil’s industry continued to decline in August. Prices of manufactured and extractive goods fell 0.20% from July, led by lower prices for food products, chemicals and raw materials. Of 24 industrial sub-sectors, half saw price declines while only machinery/electronics prices rose modestly. IBGE notes that sugar, soy and rice and chemicals pulled overall inflation down agenciadenoticias.ibge.gov.br. The drop was smaller than earlier in 2025, suggesting the disinflation trend may be easing. Nevertheless, this is the seventh straight month of decline in producer prices, wiping out nearly all post-pandemic inflation gains in industry.