Movement Alert|Vale SA Rises 3.31% in Regular Trading, Signs $3.5 Billion Long-Term Iron Ore Transport Contract with HMM

Market Focus
Sep 08

On September 8, Vale SA rose 3.31% in regular trading, trading at $15.885/share, with turnover of approximately $34.08 million.

On the news front, South Korea's flagship liner company HMM announced the signing of a 25-year iron ore transportation contract with Vale SA valued at approximately 4.7 trillion Korean won (around $3.5 billion), with shipments scheduled to commence in 2030. This marks the third long-term contract between the two parties, further reinforcing the long-term certainty of Vale's iron ore sales and logistics framework.

The deal underscores Vale's strategy of locking in multi-decade supply chain partnerships to stabilize its core iron ore business. Within the Steel and Iron sector, the broader group showed modest gains, with ArcelorMittal SA up 1.0%, Reliance Steel and Aluminum up 1.34%, Cleveland-Cliffs up 1.32%, Steel Dynamics up 0.99%, and Nucor down 0.23%.

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