All of the data I could find was last updated as of 3/31. Anyone know when the new data is released? As of 3/31, institutional ownership greatly increased. going to be very telling to see data as of 6/30.
Skiidady, you are as bi-polar as my ex-wife. One day you say it is going to $8 or $10 then the next day down to $2. Please make up you mind. (Not that anyone is making a trade based on your opinion)
Enjoy the ride my friends. We are continuing the move today. Anyone know the price of Iron Ore this morning?
Prices may rise 50% if La Nina rain worse than expected: Citi
Bank of America also raised forecast of Newcastle coal price
Thermal coal prices in Asia may jump as much as 50 percent if rainfall caused by La Nina is heavier than expected, further tightening the market as China cuts production, according to Citigroup Inc.
Prices at the Australian port of Newcastle, an Asian benchmark, may increase to $90 a metric ton if La Nina rainfall hinders Australian and Indonesian output, analysts led by Ed Morse wrote in a note e-mailed Monday. China’s steep production cuts are simultaneously raising demand for seaborne coal, they wrote. Prices have risen 19 percent so far this year to about $60 a ton, according to globalCOAL, following five years of declines.
Cliffs Natural Resources Inc. (NYSE: CLF) Chairman, President and Chief Executive Officer, Lourenco Goncalves issued the following statement in response to the State of Minnesota's termination of Essar Steel Minnesota's mineral leases associated with the Nashwauk, MN mine site:
"I am pleased that Minnesota Governor Mark Dayton has moved to terminate the State's existing agreement for the iron ore mineral leases at the Nashwauk mine site. This is the first step in a long-term development process that we believe holds tremendous potential for job creation on the Iron Range." Mr. Goncalves continued: "Cliffs looks forward to the opportunity to work in partnership with Governor Dayton's administration to develop the Nashwauk site as part of our future growth plans toward the production of value-added iron products in Minnesota."
Maybe some day you will learn how to read. There is always hope.
The underwriters may also exercise their option to purchase up to an additional common shares from us, at the public offering price, less the underwriting discount, for 30 days after the date of this prospectus.
Now I know why they call you a clown.
Price Stabilization, Short Positions
Until the distribution of the common shares is completed, SEC rules may limit underwriters and selling group members from bidding for and purchasing our common shares. However, the representatives may engage in transactions that stabilize the price of the common shares, such as bids or purchases to peg, fix or maintain that price.
In connection with the offering, the underwriters may purchase and sell our common shares in the open market. These transactions may include short sales, purchases on the open market to cover positions created by short sales and stabilizing transactions. Short sales involve the sale by the underwriters of a greater number of common shares than they are required to purchase in the offering. “Covered” short sales are sales made in an amount not greater than the underwriters’ option to purchase additional shares described above. The underwriters may close out any covered short position by either exercising their option to purchase additional common shares or purchasing shares in the open market. In determining the source of common shares to close out the covered short position, the underwriters will consider, among other things, the price of common shares available for purchase in the open market as compared to the price at which they may purchase common shares through the option granted to them. “Naked” short sales are sales in excess of such option. The underwriters must close out any naked short position by purchasing shares in the open market. A naked short position is more likely to be created if the underwriters are concerned that there may be downward pressure on the price of our common shares in the open market after pricing that could adversely affect investors who purchase in the offering. Stabilizing transactions consist of various bids for or purchases of shares of common shares made by the underwriters in the open market prior to the completion of the offering.
I like the NO LEND and LOCKUP provisions - see below from prospectus
No Sales of Similar Securities
We, our executive officers and directors have agreed, subject to certain customary exceptions, not to sell or transfer any common shares or securities convertible into, exchangeable for, exercisable for, or repayable with common shares, for days after the date of this prospectus without first obtaining the written consent of Merrill Lynch, Pierce, Fenner & Smith Incorporated. Specifically, we and these other persons have agreed, with certain limited exceptions, not to directly or indirectly
offer, pledge, sell or contract to sell any common shares,
sell any option or contract to purchase any common shares,
purchase any option or contract to sell any common shares,
grant any option, right or warrant for the sale of any common shares,
lend or otherwise dispose of or transfer any common shares,
request or demand that we file a registration statement related to the common shares, or
enter into any swap or other agreement that transfers, in whole or in part, the economic consequence of ownership of any common shares whether any such swap or transaction is to be settled by delivery of shares or other securities, in cash or otherwise.
This lock-up provision applies to common shares and to securities convertible into or exchangeable or exercisable for or repayable with common shares. It also applies to common shares owned now or acquired later by the person executing the agreement or for which the person executing the agreement later acquires the power of disposition.
As per estimates by Goldman Sachs economists, the worsening of the terms of trade between the UK and the EU post Brexit would negatively impact EU and UK GDP by around 0.5% and 2.75% respectively.  Taking into consideration the relatively muted economic impact of Brexit on countries that in any case only account for around 10% of global steel production, the event is unlikely to materially impact the global demand for iron ore.
Considering the supply side of the equation, Australian and Brazilian iron ore producers together account for over 80% of the supply in the worldwide seaborne iron ore trade, which could rise to as high as 90% due to rising production from these countries.  The EU has a negligible presence in the seaborne iron ore trade, which determines benchmark iron ore prices. Thus, any economic disruptions as a result of Brexit will not significantly affect either the demand or the supply for iron ore. Brexit is largely a non-event for iron ore prices.