Everything rests on China at this stage. Everything which could go wrong for this company has: recession, depressed I/o prices, corruption in Brazil, slowdown in China, dam burst, on and on. Sooner or later things have to get better. The S11D project should be coming online sometime during the second half of the year. I/O prices seem to have stabilized at least for the time being. I am hoping the lows are in, we already have seen some financial institutions start to raise their I/o price forecasts. Lets hope that Vale can show another profit at the end of the month and keep the trend going. If this happens earnings estimates will start to be revised upward for the company, thus resulting in a better stock price. Good Luck.
I think if they can show a profit again at the end of this month I believe earnings estimates will start to be raised for the company. If that indeed does happen perhaps we could begin to see some meaningful price appreciation.
There is a story on Bloomberg this morning saying Brexit will ultimately be a good thing for commodities in that it will lead to more easing as well as increased infrastructure spending by the Chinese, I guess time will tell if this is correct. Good Luck Board!