Vale Rises 1.64% as Rio Tinto Slips 0.86% | Iron Ore, Oct 23
Key Facts
- Vale’s New York shares rose 1.64% to US$12.40 on Friday, recovering part of Thursday’s 3.9% fall.
- Rio Tinto fell 0.86% to US$83.42 and BHP rose 0.35% to US$77.85.
- Brazil’s real gained 1.57% to 4.9654 per dollar and the Ibovespa rose 0.47%.
- CSN, Brazil’s steel group, jumped 13.46% in New York to US$1.18.
- Iron ore is not in our spot feed, so the miners’ shares serve as proxies.
Today’s Focus
Vale, Brazil’s iron-ore giant, recovered some ground on Friday, 23 October, while Rio Tinto slipped. Vale’s New York shares rose 1.64% to US$12.40 after falling 3.9% on Thursday.
Miners were mixed: BHP gained 0.35%, and Rio Tinto lost 0.86%.
What matters today. Vale’s bounce followed a sharp fall, and the mixed picture among miners shows no clear trend.
01 The session in one read
Vale’s American depositary receipts rose 1.64% to US$12.40, about 5% below their 16 October close of US$13.06. Rio Tinto fell 0.86% to US$83.42 and BHP rose 0.35% to US$77.85.
Brazil’s markets rose. The Ibovespa gained 0.47% and the real strengthened 1.57% to 4.9654 per dollar.
Iron ore is the biggest part of Brazil’s mining exports, and China is the biggest buyer.
Vale is still well below last week’s levels, and the other big miners moved in different directions. That fits a market with no clear news.
The key question is China’s steel demand, which our verified sources did not update on Friday.
02 The board
Vale’s shares closed at US$12.40, up 1.64%. Rio Tinto closed at US$83.42, down 0.86%, and BHP at US$77.85, up 0.35%.
CSN’s New York shares, a steel proxy, jumped 13.46% to US$1.18 from a low base.
| Asset | Level | Change |
|---|---|---|
| Vale (VALE, New York) | US$12.40 | +1.64% |
| Rio Tinto (RIO) | US$83.42 | −0.86% |
| BHP (BHP) | US$77.85 | +0.35% |
| USD/BRL | 4.9654 | −1.57% |
Source: RT close, 2026-10-23. Where a commodity has no spot feed, an exchange-traded tracker or leading producer is shown as a labelled proxy.
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| Instrument | Last | Change | YoY | Prev. | High | Low | Volume |
|---|---|---|---|---|---|---|---|
| IBOV | 205,082.56 | +0.47% | +21.85% | 204,120.12 | 168,310 | 167,142 | — |
| IPSA | 10,746.36 | -0.31% | — | 10,780.31 | 11,210 | 10,984 | 1,513,213,483 |
| IPC MEX | 69,678.08 | -0.30% | +12.17% | 69,889.73 | 66,121 | 65,405 | 108,886,187 |
| MERVAL | 3,017,221 | — | +30.51% | 3,022,485 | 3,042,365 | 2,991,150 | — |
| COLCAP | 2,540.10 | +0.46% | — | 9.04 | 9.05 | 9.02 | 4,133 |
| BVL PERÚ | 57,021.19 | +0.13% | — | — | — | — | — |
| USD/BRL | 5.16 | +0.01% | -5.13% | 5.16 | 5.18 | 5.14 | — |
| EUR/BRL | 5.95 | +1.01% | -5.83% | 5.89 | 5.98 | 5.94 | — |
| USD/MXN | 17.06 | -0.24% | -8.58% | 17.10 | 17.08 | 17.01 | — |
| USD/CLP | 913.98 | +0.04% | -5.67% | 913.65 | 915.11 | 906.68 | — |
| USD/COP | 3,140 | +0.03% | -22.04% | 3,139 | 3,141 | 3,105 | — |
| USD/PEN | 3.36 | -0.66% | -4.82% | 3.38 | 3.38 | 3.35 | — |
| USD/ARS | 1,493 | +0.10% | +12.96% | 1,491 | 1,494 | 1,480 | — |
| USD/UYU | 40.27 | +1.24% | +1.80% | 39.77 | 40.27 | 40.23 | — |
| USD/PYG | 5,939 | +1.68% | -19.54% | 5,841 | 5,939 | 5,925 | — |
| USD/BOB | 11.64 | -0.76% | +72.04% | 11.73 | 11.72 | 11.64 | — |
| USD/DOP | 58.34 | +1.25% | -3.44% | 57.62 | 58.34 | 58.04 | — |
| USD/CRC | 445.92 | +0.89% | -9.71% | 441.97 | 448.50 | 445.92 | — |
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03 What moved it
No new Chinese data on steel or ore arrived on Friday in our verified sources. The moves in miners’ shares followed the broader rebound in Brazilian assets and a slightly firmer dollar.
The strong Brazilian real, 1.57% higher, raises Vale’s costs in dollar terms because many are paid in reais.
04 The Latin American read
Brazil is the world’s second-largest iron-ore exporter after Australia, and Vale is its biggest producer. The company’s shares are the most liquid way for US investors to follow Brazilian ore.
Sunday’s presidential runoff could move Brazilian assets on Monday, including Vale’s local shares.
05 The names to watch
Vale is the main proxy for Brazilian iron ore. Rio Tinto and BHP show how Australian miners are doing.
CSN, a Brazilian steel and mining group, was the day’s biggest mover in New York.
06 The outlook
The direction of Chinese steel output and port stocks matters most for iron ore.
A close for Vale above US$12.70, Wednesday’s level, would show the recovery is holding.
07 What to watch
- China: Steel output and property data.
- The Brazil runoff: The vote on 25 October.
- Vale: A close above US$12.70.
- The real: A stronger real raises Vale’s costs.
Frequently Asked Questions
Why did Vale rise on Friday?
The shares bounced after a 3.9% fall on Thursday, and Brazilian markets rose.
Which country buys most Brazilian iron ore?
China.
Do you show the iron-ore price?
No. Iron ore is not in our spot data feed, so we use miners’ shares as proxies.
When is Brazil’s runoff?
On 25 October 2026.
Market data: RT
This article was produced by The Rio Times’ automated newsroom system. How we use AI · Report an error · Editorial responsibility: Matthias Camenzind, Editor-in-Chief
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