Save
Print[Ferro-Alloys.com]
Lower iron, nickel and copper prices weigh on Vale's quarterly earnings
Brazilian miner Vale on Wednesday said lower prices for iron-ore, nickel and copper in the first quarter dragged down earnings compared to the year before, as it posted net profit slightly below analyst estimates.
Vale, the world's no.2 producer of iron-ore, posted a $1.7-billion net profit for the quarter ended in March, 9% lower than the year-earlier period, while analysts polled by LSEG were expecting $1.9-billion.
The average realized price of copper was 19% lower than in the same period last year, while nickel was down 33%. Vale said iron-ore fines realized prices were also lower from last year.
Vale's adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) fell 7% in the quarter from a year earlier to $3.44-billion, below analysts' estimate of $3.66-billion.
Copyright © 2013 Ferro-Alloys.Com. All Rights Reserved. Without permission, any unit and individual shall not copy or reprint!
- [Editor:邢亞敏]
Daily News
Research
Magazine
Company Database
Customized Database
Conferences
Advertisement
Trade
Online inquiry
Contact
Tell Us What You Think