On Wednesday, Shares of Vale S.A. (NYSE:VALE), lost -5.34% to $5.32, as the collapse in iron ore prices drags on the world’s largest producer of the steel-making ingredient.
Iron ore tumbled to reach a 10-year low level this morning, according to Reuters. Spot iron ore prices were lower by 11.3% to $44.10 a tonne, according to data compiled by The Steel Index.
Iron ore prices are falling amid rising supply from big producers Australia and Brazil.
Vale S.A., together with its auxiliaries, engages in the research, production, and sale of iron ore and pellets, nickel, fertilizer, copper, coal, manganese, ferroalloys, cobalt, platinum group metals, and precious metals in Brazil and internationally.
Shares of Southern Company (NYSE:SO), declined -0.14% to $44.20, during its last trading session.
Thomas A. Fanning, chairman, president and chief executive officer of Southern Company, has declared the hiring of Michael Britt as vice president of the company’s recently introduced Energy Innovation Center in Atlanta’s Technology Square.
The Energy Innovation Center is the latest addition to Southern Company’s enterprise-wide approach to innovation, which comprises the advancement of new nuclear in Georgia, a first-of-its-kind clean coal facility in Mississippi and an industry-leading commitment to robust, proprietary research and development.
Under Britt’s direction, the center will focus on developing and commercializing products and services that benefit customers as Southern Company extends its long-standing commitment to inventing the future of clean, safe, reliable and affordable energy.
The Southern Company, together with its auxiliaries, operates as a public electric utility company. It is involved in the generation, transmission, and distribution of electricity through coal, nuclear, oil and gas, and hydro resources in the states of Alabama, Georgia, Florida, and Mississippi.
Finally, Baozun Inc. (NASDAQ:BZUN), ended its last trade with -3.57% loss, and closed at $7.16, hitting its lowest level.
Baozun, declared that operations at the Company’s sixth and newest logistics warehouse in Guangzhou, Guangdong Province began on July 3, 2015.
Located in the Alibaba Cainiao Logistics Park and outfitted with Baozun’s proprietary warehouse administration system, the Guangzhou warehouse has a gross floor area of 5,000 m2 and the ability to handle 20,000 daily orders. With each of Baozun’s warehouses customized to cater to different product categories, the Guangzhou warehouse will closely monitor each step of the fulfillment process for home appliances, building materials and fast-moving consumer goods before expanding into more categories such as apparel. With the addition of the Guangzhou warehouse, the Company now operates warehouses with an aggregate gross floor area of close to 90,000 m2.
In addition to the warehouses in Suzhou and Hong Kong, the Guangzhou warehouse strengthens the Company’s logistical presence in southern China allowing it to reduce transportation costs and delivery times to provide next day delivery service to core cities located in Guangdong, Fujian, Jiangxi, Hunan, Guangxi and Hainan Provinces. Next day delivery services will gradually be rolled out to additional second-tier cities in the region.
Baozun Inc. provides e-commerce solutions for brand partners in the People’s Republic of China. It offers end-to-end e-commerce solutions, counting IT infrastructure setup and integration, online store design and setup, visual merchandizing and marketing campaigns, store operations, customer services, warehousing, and order fulfillment.
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