Vale (NYSE: VALE), the world’s largest iron-ore producer, posted its first decline in quarterly profit intwo years and missed analysts’ estimates after a weakerBrazilian real boosted dollar-denominated debt.
The Rio de Janeiro-based company took the market by surprise by reporting a third-quarter net profit of $4.94bn, down 18 per cent from last year and more than $1.5bn below analysts’ average estimate.Vale dropped to its lowest in more than two months on Oct.20 after iron-ore prices slumped on concern about slowing demandin China and fear the European debt crisis will spread.
Although investors do not seem optimistic, the company is positive on its business outlook. You can download the full report below.

vale 3Q results

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