SAO PAULO (Reuters) -Brazilian miner Vale said on Friday that it has so far not seen a material impact from the ongoing global trade war on its operations and sales, but vowed to keep monitoring it closely amid uncertain market conditions.<\/p>\n
Vale is one of the world’s largest iron ore producers and has a top client in China, which has been locked in a trade dispute with the United States following President Donald Trump’s sweeping tariffs.<\/p>\n
Speaking on a call with analysts after the company reported a 17% first-quarter net profit drop on lower iron ore prices, Vale executives said it was too soon to talk about the trade war’s impact on prices of the key steelmaking ingredient.<\/p>\n
Chief Executive Gustavo Pimenta, nonetheless, acknowledged that a potential global economic slowdown would likely have an impact on commodity markets.<\/p>\n
Vale also said that given the uncertain market conditions, it was not the right time to discuss potential extraordinary dividend payments – a shareholder remuneration practice it has adopted in the recent past.<\/p>\n
Sao Paulo-traded shares of the mining giant slipped about 2% on Friday, among the biggest fallers on Brazil’s benchmark stock index Bovespa, which was roughly flat.<\/p>\n
(Reporting by Gabriel Araujo and Roberto Samora; Editing by Aurora Ellis)<\/p>\n","protected":false},"excerpt":{"rendered":"SAO PAULO (Reuters) -Brazilian miner Vale said on Friday that it has so far not seen a material…\n","protected":false},"author":2,"featured_media":49907,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3090],"tags":[51,1700,26889,26888,6202,26890,1219,16,15,26891],"class_list":{"0":"post-49906","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-economy","8":"tag-business","9":"tag-economy","10":"tag-iron-ore-prices","11":"tag-material-impact","12":"tag-president-donald-trump","13":"tag-trade-dispute","14":"tag-trade-war","15":"tag-uk","16":"tag-united-kingdom","17":"tag-vale"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/114399735003753534","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/49906","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=49906"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/49906\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/49907"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=49906"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=49906"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=49906"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}