Q1 numbers are out, and the impact of the decline in the average price of iron ore is greater than expected, leading to even more pressure in Q2.

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Vale Q1 EBITDA Misses Forecast on Cost Pressures
Vale reported first-quarter adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) of $39 billion in a filing dated April 28, falling short of the market expectation of $41 billion. The
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