Vallourec: powerful rebound

Photo credit © Reuters

( — Helped by the good performance of black gold prices and a sector rotation movement, Vallourec rebounded more than 8% to 9.5 euros on Monday. The seamless tube specialist is also in discussions with the Brazilian authorities to reopen its Pau Branco iron mine, which has been closed since last week due to exceptional rains. According to the economic newspaper ‘Valor Economico’, the company is in talks with Brazil’s National Mining Agency to resume operations and settle the environmental damage. Vallourec said last week that it had been notified of a fine of 288 million Brazilian reals (around 45 million euros), which it intended to contest.


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