|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||50.11 - 51.00|
|52 Week Range||35.03 - 51.67|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.55%|
Although Donald Trump had resolved to protect the domestic US steel industry from the onslaught of subsidized imports, they rose in 2017. On multiple instances, US steelmakers (SLX) such as ArcelorMittal (MT), U.S. Steel Corporation (X), and Nucor (NUE) have urged the US administration to act on the Section 232 probe and end subsidized steel imports, which have been impacting their market share and pricing.
On February 16, 2018, the US Department of Commerce released its recommendations for the Section 232 probe into steel and aluminum imports. The Department of Commerce recommended global steel duties of at least 24% on all steel products from all countries.
At one point following Credit Suisse’s (CS) upgrade, Cleveland-Cliffs (CLF) stock was trading at a rise of more than 6% on February 7, 2018, compared to its previous day’s close. Year-to-date (or YTD), Cliffs stock has returned -5.7% as of February 7. Stronger iron ore and US steel prices, as well as elevated North Atlantic Basin pellet premiums, led to this rise in the stock.
Can Cleveland-Cliffs Reverse Its Underperformance in 2018? Steel prices are the major driver of steelmakers’ earnings and revenues. According to Platts, US steel prices rose 17.5% on average compared to 2016.
In this article, we’ll discuss analysts’ projections for Cleveland-Cliffs (CLF). Currently, US steel imports and US steel prices are the major factors affecting Cliffs’ estimates. Analysts expect Cleveland-Cliffs to report revenue of $2.3 billion in 2017, which would imply a rise of 11.1% YoY (year-over-year).
Cleveland-Cliffs (CLF) achieved US volumes of ~5.9 million tons in 3Q17, an increase of 11% year-over-year (or YoY). While the company achieved strong volume growth in 3Q17, its outlook for 4Q17 was weaker.
The China Association of Automobile Manufacturers originally forecast 5.0% growth in total vehicle sales for 2017.
VanEck announced today the December 2017 additional income distributions per share for the following VanEck Vectors® exchange-traded funds.
There have been no down months since President Trump was elected. In the end, the Dow Jones gained 0.6%, the S&P 500 gained 0.6%, the Nasdaq Composite gained 0.8% and the Russell 2000 gained 1.2%. The Nasdaq crossed above the 7,000 level for the first time.
VanEck announced today the following 2017 annual distributions per share for its VanEck Vectors® equity exchange-traded funds.
China’s property sector is one of the most steel-intensive sectors, consuming approximately 50% of overall steel in the country.
Steel prices are the major driver of steelmakers’ earnings and revenues. So it’s important for steel investors and Cleveland-Cliffs (CLF) investors to track the trend in steel prices.
The drivers for Cleveland-Cliffs’ (CLF) top and bottom lines are quite different from the miners we’ve discussed in the previous parts of this series such as Rio Tinto (RIO), BHP (BHP), and Vale (VALE)....
The Chinese automobile industry comes second, after the real estate sector, in consuming the most steel. In this article, we’ll look at the recent developments in this industry to track the associated ...