On June 24, Vale fell 3.04% in regular trading, trading at $14.84/share, with turnover of approximately $139 million.

On the news front, Vale's board governance dispute continues to escalate. Shareholder Previ, which holds approximately 7% of Vale, proposed the removal of Chairman Daniel Stieler. Although the board voted against the proposal with a majority of directors viewing the reasons as insufficient, the motion will still be put to a shareholder vote at an extraordinary general meeting scheduled for July 22. Previ is backing independent director Manuel Lino Oliveira as a replacement chairman and has nominated former Previ CEO Jose Mauricio Pereira Coelho for a vacant board seat. The ongoing management uncertainty continues to weigh on market sentiment.

Within the Steel & Iron sector, stocks were broadly under pressure. Among individual stocks, Nucor up 0.69%, Cleveland-Cliffs down 5.69%, Steel Dynamics down 0.62%, ArcelorMittal down 2.95%, Reliance Steel & Aluminum down 0.28%.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)