Vale SA reported Q1 2026 pro forma EBITDA of $3.89 bn, up 21% YoY but below Bloomberg’s $4.11 bn estimate.
Revenue rose 14% to $9.26 bn and net profit increased 36% to $1.89 bn, missing consensus $2.05 bn.
Higher commodity prices drove results, with iron ore fines price up 5.5% and copper price surging 48% in early 2026.
Company highlighted growing demand for copper and nickel from electrification and data‑center construction, underscoring base‑metal expansion.