|Bid||23.00 x 800|
|Ask||25.49 x 1800|
|Day's Range||24.57 - 25.10|
|52 Week Range||24.57 - 33.03|
|PE Ratio (TTM)||N/A|
|Beta (3Y Monthly)||1.07|
|Expense Ratio (net)||0.39%|
If you aren't already betting on metals and mining stocks, you ought to consider doing so now. The sector faces "a 'Goldilocks' backdrop," states a recent report from British bank Barclays, which cites dovish interest rate policy from the Federal Reserve, improving economic conditions in China, and positive U.S.-China progress on trade. were recently up 24% and 38%, respectively, so far this year according to Morningstar. Both produce iron ore as well as other industrial metals.
Is the Party Just Getting Started for Iron Ore Miners?(Continued from Prior Part)Citibank recommends participating in the current iron ore price rallyCitibank (C) is advising investors to participate in the current iron ore price (PICK) rally. The
Could China’s Slowdown Weigh on Iron Ore Prices This Year?(Continued from Prior Part)Daily average output slides Previously, we looked at how Chinese iron ore imports stayed weak last year due to lower steel production. As reported by Reuters,
Mining stocks and sector-related exchange traded funds strengthened Monday as a trade war cease fire between the U.S. and China fueled hopes that the second biggest economy in the world could recover and pick up on demand for raw materials. Both COPX and REMX also broke above their short-term trend line at the 50-day simple moving average as well. Industrial metals and related mining companies rebounded on hopes that the U.S. and China would put aside their trade spat.
Has Trade War Affected China’s Steel and Iron Ore Demand? Stronger steel demand is the key driving factor behind the rising output. While steel margins are still strong due to robust demand, concerns over the Chinese growth outlook were weighing on steel prices.
Has Trade War Affected China’s Steel and Iron Ore Demand? In the previous article, we discussed that Chinese iron ore imports remained stronger despite the trade war fears in July. The stronger imports are primarily due to the robust steel production in the country.