News / Finance
VALE, GGB, CLF were Today`s Top Stocks from Iron & Steel Sector
Best Steel and Iron Company Stocks on NYSE
Vale S.A. (ADR) (NYSE:VALE) was one of the most active gainers in today`s trade as it rallied over 6.76% to $26.69 on huge volume of 38.10 million shares after Reuters reported today that according to O Estado de S. Paulo newspaper report, Vale will spend up to BRL10 billion ($5.8 billion) in projects in Brazil's southeastern region. Vale S.A., formerly Companhia Vale do Rio Doce, is a metals and mining company. The Company is also a producer of iron ore and iron ore pellets. It also produces manganese ore, ferroalloys and kaolin.
Gerdau SA (ADR) (NYSE:GGB) was among the top movers and surged 7.59% at $16.72 on huge volume of 8.73 million shares. The stock made an intraday high and low of $16.80 and $16 respectively. So far the stock jumped over 142% in last six months of trade. Gerdau S.A. is a producer of long rolled steel. Gerdau operates steel mills that produce steel by direct iron-ore reduction (DRI) in blast furnaces and in electric arc furnaces.
Cliffs Natural Resources Inc (NYSE:CLF) jumped 8.70% or $3.11 to $38.85 on over 7.18 million shares after the company announced on Monday, 12 Oct 2009 that it plans to exercise its right of first refusal and acquire U.S. Steel Canada`s 44.6% interest and Arcelor Mittal Dofasco`s 28.6% interest in the Wabush Mines joint venture. Cliffs Natural Resources Inc., formerly Cleveland-Cliffs Inc, is an international mining and natural resources company. The Company is a producer of iron ore pellets in North America, a supplier of direct-shipping lump and fines iron ore out of Australia, and a producer of metallurgical coal.
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