Vale’s S11D. Image source: Vale.
Vale SA (NYSE: VALE) is one of the world’s largest iron ore producers. Its stock took a huge hit when commodity prices started to fall, rebounded early this year as iron ore prices headed quickly higher, and has come down again now that the steel-making input has cooled anew. But here’s the thing: The company recently announced it’s prepared to fight no matter what price iron ore fetches.