Why Rio Tinto And Vale Are Trading Lower Today

On Monday, the shares of a number of mining companies were trading lower amid a new coronavirus strain in the U.K. which investors fear will slow the resumption of normal economic activity.

Rio Tinto (NYSE: RIO) searches for and extracts a variety of minerals worldwide, with the heaviest concentrations in North America and Australia. Iron ore is the dominant commodity, with significantly lesser contributions from aluminium, copper, diamonds, energy products, gold, and industrial minerals.

Rio Tinto shares were trading down 0.72% at $76.06. The stock has a 52-week high of $77.64 and a 52-week low of $35.35.

Vale SA (NYSE: VALE) is the world's largest iron ore miner and one of the largest diversified miners, along with BHP and Rio Tinto. Earnings are dominated by the bulk materials division, primarily iron ore and iron ore pellets, with minor contributions from iron ore proxies, including manganese and coal.

Vale SA shares were trading down 2.33% at $16.97. The stock has a 52-week high of $17.46 and a 52-week low of $6.49.