Lower iron, nickel and copper prices weigh on Vale's quarterly earnings

Brazilian miner Vale on Wednesday said lower prices for iron-ore, nickel and copper in the first quarter dragged down earnings compared to the year before, as it posted net profit slightly below analyst estimates.

Vale, the world's no.2 producer of iron-ore, posted a $1.7-billion net profit for the quarter ended in March, 9% lower than the year-earlier period, while analysts polled by LSEG were expecting $1.9-billion.