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China is on track to top 1 billion tons of steel production by the end of 2020, beating 2019's 996.3 million tons despite steel-consuming industries suffering a lockdown. It is the only major producing country to have increased output this year, up 5.6% at the end of October. Desp...
Chinese output grew 3.8% to nearly 31 million tons in the January to October period. Even so, demand still outstripped supply. Surplus production has a way of disappearing off the radar in the aluminum market. The stock and finance trade soaks up excess production. Output is down ...
Steel stocks are soaring after GLJ Research upgraded (I, II) U.S. Steel ([[X]] +19.2%) and Cleveland-Cliffs ([[CLF]] +8.9%) to Buy from Hold with respective $17.30 and $15.75 price targets, saying the "steel reflation trade is solidly back in play."GLJ analyst Gordon Johnson expects "big upsi...
Bank of America's Timna Tanners has been warning investors of a coming "Steelmageddon" - a glut of new electric arc furnace-based sheet mills and a flood of potential steel supply - but she says Cleveland-Cliffs ([[CLF]] +0.3%) could take a major stride in balancing the market if it shutters ...
U.S. Steel ( X +4.9% ) rallies as much as 9% intraday after guiding toward a narrower than expected Q3 adjusted loss . More news on: United States Steel Corporation, Nucor Corporation, VanEck Vectors Steel ETF, Commodities news, Stocks on the move, News on ETFs, Read more ...
Original post By Stuart Burns An article in the Australian Financial Review ((AFR)) underlines the bullish narrative accompanying the iron ore price's performance this year. "Chinese steel consumption has just blown consensus out of the water this year," the report notes, citing ...
U.S. Steel ( X +3.8% ) surges after raising prices on new orders of benchmark steel products, but some industry observers do not believe the move signals a post-pandemic rebound in demand , and supplies remain tight as steel plant usage has been running near multi-year lows. More ne...
U.S. Steel (NYSE: X ) increased the base price on new orders for hot-rolled coil, cold-rolled coil and hot-dipped galvanized steel products by a minimum of $60/short ton, as the market rebounds from deep lows in August, Argus reports. More news on: United States Steel Corporation, VanE...
Original post By Sohrab Darabshaw The Indian aluminum sector, which once stood firmly on the path of growth, today finds itself buffeted by the winds of uncertainty because of the COVID-19 pandemic. Industry leaders have suggested many measures to the India government to put the se...
Original Post By Sohrab Darabshaw India's steel production contracted since the arrival of COVID-19. However, exports surprisingly notched a new high in the April-July 2020 period. Steels exports more than doubled in these months to hit their highest level in six years, reported ne...
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2024-06-03 01:36:00 ET Stock Traders Daily has produced this trading report using a proprietary method. This methodology seeks to optimize the entry and exit levels to maximize results and limit risk, and it is also applied to Index options, ETFs, and futures for our subscribers. This...
2024-05-14 03:38:00 ET Stock Traders Daily has produced this trading report using a proprietary method. This methodology seeks to optimize the entry and exit levels to maximize results and limit risk, and it is also applied to Index options, ETFs, and futures for our subscribers. This...
2024-05-04 09:16:00 ET Stock Traders Daily has produced this trading report using a proprietary method. This methodology seeks to optimize the entry and exit levels to maximize results and limit risk, and it is also applied to Index options, ETFs, and futures for our subscribers. This...