Brazil’s Bovespa-index futures declined with the equity gauge poised for its biggest monthly drop since May, after iron-ore producer Vale SA posted a record loss in the fourth quarter.
Brazil’s Vale, the world’s leading exporter of iron ore is moving strongly into other minerals with the opening of its first nickel operation in Onca Puma to the southeast of Pará state which is considered one of the largest ferronickel production plants in the world.