Usinas Siderurgicas de Minas Gerais SA is beating major steelmaker stocks on speculation cost cuts will make it profitable after four quarters of losses. The rally will continue, say Goldman Sachs Group Inc. and Deutsche Bank AG analysts.
After Murilo Ferreira helped Vale SA win a takeover battle for Canadian miner Inco Ltd. in 2006, his boss, Chief Executive Officer Roger Agnelli , promoted him to head the unit and build a global nickel business from Toronto.
Vale SA rose the most among major iron-ore producers after profit beat analysts’ estimates for the first time in two years on cost reductions and higher copper sales that offset lower prices for the steel ingredient.
Vale SA, the world’s largest iron ore producer, has held informal discussions with Chinese companies to help develop a steel plant project in Brazil, reflecting its optimistic outlook for global demand.