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Vale Stock Surges as Brazil Stocks Rally, Iron Ore Climbs

NEW YORK (TheStreet) -- Vale (VALE - Get Report) stock is rising by 7.4% to $5.66 in early-afternoon trading on Tuesday, as shares of Brazil-based companies rally and iron ore prices climb.

The Rio de Janeiro-based iron ore producer is benefiting from optimism that a change in Brazil's government will improve domestic demand, Bloomberg reports.

Brazil's Senate is preparing to debate a motion to impeach President Dilma Rousseff after the lower house voted in favor of impeachment on Sunday.

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