U.S. Markets closed

[$$] Vale Second-Quarter Net Income Rose on Strong Demand for Steel in China

SA said Wednesday net income rose in the second quarter as steel production in China continued to rise and the company boosted sales of higher-value products. Vale, the world’s biggest iron-ore producer, reported net income of $76 million, up from $16 million in the same quarter a year earlier. Operating income increased to $8.6 billion from $7.2 billion a year earlier.