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China Trade Data Hurts Miners: Why Vale Could Fall 22%

Shares of Brazilian mining giant Vale (VALE) are down 1.5% today.

The stock's weakness comes after China reported weak July trade data. It is a major consumer of iron ore that Vale exports. Reuters reports "Chinese imports and exports both fell well short of forecasts last month and growth in overall trade, while still a healthy 8.8 percent, was its slowest this year." While the Brazilian real was weaker by 0.2% against the U.S. dollar in recent trading, the iShares MSCI Brazil Capped exchange-traded fund (EWZ) was higher by 0.2%.

As for Vale, BMO Capital Markets analysts cut their outlook for profits, though analysts Edward Sterck and...


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