Email of the day on Brazil and copper miners
Comment of the Day

December 07 2021

Commentary by Eoin Treacy

Email of the day on Brazil and copper miners

In today's commentary you talked about Brazilian copper miners. Vale's chart seems to suggest a bottoming pattern. It is primarily an iron ore producer but it does have a copper interest. This may be a medium to long term level.

Eoin Treacy's view

Thank you for this email. Unfortunately, Vale is a bit player in the copper sector. Its primary business is in the ferrous metal sector, so it is intimately related to China’s steel production. Vale is a major nickel producer following the acquisition of Inco more than a decade ago. That offers exposure to the battery metals sector but unfortunately nickel is the least supply constrained of the industrial metals.

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