Steel ETF Melts After Vale Mining Disaster
January 28, 2019 at 14:09 PM EST
The steel sector and related ETF broke down after Vale SA (NYSE: VALE) suspended dividends following a dam breach that left 60 dead and 292 missing in Brazil. The VanEck Vectors Steel ETF (NYSEArca: SLX), the lone steel sector-specific ETF, declined 3.0% on Monday. VALE shares plunged 15.3% Monday...
