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Vale Stock Increasing After Glencore Announced Lower Zinc Production

NEW YORK (TheStreet) -- Vale (VALE - Get Report) stock is rising by 4.17% to $5.49 in midday trading on Friday, as commodity giant Glencore's (GLNCY) cut to zinc production increases commodities prices and benefits stocks within the mining sector.

Vale is a metals and mining company based in Rio de Janeiro, Brazil.

Glencore will lower its global zinc production by roughly a third, or 500,000, in a cut equal to about 4% of the world's total annual supply of the metal, according to the Wall Street Journal.

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In doing so, Glencore has demonstrated leadership in boosting commodities prices, which have sharply declined in recent months amid the economic decline in China, the world's top metals consumer. Zinc, copper, lead and nickel prices are advancing today, Reuters reports.

TheStreet's Jim Cramer, Portfolio Manager of the Action Alerts PLUS Charitable Trust Portfolio commented on Glencore saying: "Glencore's blinking, cutting back zinc production to stem the glut. Discipline is coming back to the metals. That's huge for the group - even Vale, BHP Billiton (BHP) and Rio Tinto (RIO)."

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