On September 2, Vale SA rose 3.37% in regular trading, trading at $15.615/share, with turnover of $33.55 million. The rally comes amid broad strength in the Steel & Iron sector and follows recent strategic commentary from the company's top executive.

Vale CEO Gustavo Pimenta recently stated that critical minerals will become the \"new oil\" for future generations, highlighting that global critical mineral supply needs to increase five- to six-fold over the next 20 years, driven by vehicle electrification and AI development. Pimenta emphasized Brazil's significant potential to become a global leader in the energy transition. Additionally, the company recently advanced its Salobo CPF copper expansion project to the execution phase, which is expected to add 6 million tonnes of annual iron ore processing capacity and approximately 30,000 tonnes of copper output, with operations now slated to begin in H1 2028 — one year ahead of the original schedule.

Within the Steel & Iron sector, peers also posted gains: Steel Dynamics up 3.29%, Cleveland-Cliffs up 3.25%, Nucor up 2.9%, and ArcelorMittal up 1.35%.

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