|Bid||31.00 x 100|
|Ask||33.12 x 600|
|Day's Range||32.40 - 32.88|
|52 Week Range||24.78 - 35.21|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.35%|
Cleveland-Cliffs stock is very sensitive to changes in US steel prices as well as seaborne iron ore prices.
Cleveland-Cliffs’ management noted during its 4Q16 earnings call that it is expecting to generate FCF of $550 million in 2017.
Cleveland-Cliffs (CLF) is scheduled to release its 3Q17 results before the US market opens on October 20. In this series, we'll look ahead to CLF’s earnings and management call.
As per the latest JOLTS report, about 2.1 million Americans quit their jobs voluntarily in August, which was a decrease of 70,000 from the previous reading.
The National Congress of the Communist Party of China (or CPC) is scheduled to begin on October 18. The event, which takes place every five years, should be closely followed by…
China, the largest consumer of iron ore (COMT), contributes more than two-thirds of the world’s seaborne-traded iron ore. Therefore, we can track China’s iron ore imports and the outlook for…
After rising unexpectedly, iron ore prices have fallen into bear territory once again. As China gets ready to cut its steel capacity for four months on November 15, 2017, the…
In this series, we’ll see how analysts are rating the leading copper miners, using companies that get a sizeable chunk of revenues from copper mining.
Looking at steel companies’ 2017 price action, almost all US-based steelmakers including Nucor (NUE) are trading with year-to-date losses.
Iron ore prices have been on a roller coaster ride in 2017. Prices peaked at $95 per ton in February 2017. After that, they fell to $53 per ton in June 2017.
Fall may have just begun, but Jefferies’ Andrew Hines and Michael Clark are already looking ahead to winter, when Chinese authorities are planning to substantially cut their steel output—a factor they warn could lead to falling iron prices. The planned capacity reductions have been well telegraphed for some time, and Hines and Clark write that this has probably lead to “significant” distortions in demand and pricing for Chinese steel and iron ore this year, as consumers and traders have had reason to stockpile ahead of the closures. Hines and Clark write that the price of high grade iron ore isn’t sustainable, and they reiterate their thesis that iron ore is entering a multi-year bear market.
Steel companies like U.S. Steel Corporation (X), ArcelorMittal (MT), and AK Steel (AKS) use coking coal as an input for their blast furnaces.
As for the US steel industry, 2017 has been a tepid year for steel stocks (XME). After the meteoric rise last year, most US steel companies are trading with year-to-date losses this year.
Copper prices touched a three-year high in early September 2017. Bulls cited an improved demand environment amid falling ore grades at major mines to justify their optimism.
The United States is the world’s largest net steel importer. The country’s net steel imports totaled 21.7 million metric tons last year.
Vale’s 2Q17 results were not very encouraging for investors, as its earnings dropped sharply from $1.1 billion in 2Q16 to $16.0 million in 2Q17.
According to the consensus compiled by Thomson Reuters, 48% of the analysts recommend a “hold” for Vale stock compared to 43% recommending a “buy.”
In the previous part of this series, we saw how Wall Street analysts are rating Nucor (NUE). In this final article, we’ll see how analysts rate Steel Dynamics (STLD) this month.
Alcoa (AA), the leading US-based aluminum producer (XME), has risen 59.9% so far in 2017—based on the closing prices on September 13.
Nucor (NUE), which is now the leading US-based steelmaker, has lost 10.1% so far in 2017, based on September 12 closing prices.