Vale's 1.36% Surge Driven by 57.83% Volume Jump to 408th Rank as Institutional Interest in Base Metals Gains Momentum

On Sept. 5, 2025, , . The surge in volume suggests renewed institutional interest following recent operational updates and market positioning in base metals. Analysts noted that the move aligns with broader trends in commodities as demand signals stabilize in key markets.

Market participants observed that Vale’s performance was driven by strategic positioning in the mining sector amid shifting supply dynamics. Recent operational adjustments at key iron ore and nickel facilities, coupled with macroeconomic indicators pointing to improved industrial demand, contributed to the stock’s upward momentum. .

To run this back-test robustly I need to pin down a few implementation details that aren’t yet fully specified: 1. • Should we use all U.S. common stocks listed on NYSE + NASDAQ + AMEX, or a different universe (e.g., only S&P 1500 constituents)? 2. • Typical approach is: – Rank stocks by the prior day’s total volume (using the “close” price bar). – Enter the top-500 names at the next day’s open and liquidate them at that same day’s close (1-day holding period). • Is this acceptable, or would you prefer same-day close-to-close, or another convention? 3. • Equal-weight each of the 500 positions each day (standard for this kind of breadth strategy). OK? 4. / slippage • Ignore them for a first pass, or add a flat cost (e.g., 2 bps per side)? If those default assumptions are fine, just let me know and I’ll launch the data retrieval and back-test. If you’d like anything changed, please specify and I’ll adjust before proceeding.