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U.S. Steel ([[X]] +3.9%) and Cleveland-Cliffs ([[CLF]] +7.8%) are up sharply after Credit Suisse double-upgrades shares to Outperform from Underperform, saying the current cycle in the steel sector (SLX) is "clearly super [and] has room to run.""The traditional relief valve of excess China st...
The Basic Materials sector ranks fourth in Q2'21. Based on an aggregation of ratings of the 152 stocks in the Basic Materials sector. SLX is our top-rated Basic Materials ETF and FSCHX is our top-rated Basic Materials mutual fund. For further details see: Best And Worst ...
With greater clarity on the sustainability of the economic recovery, we also saw the opportunity set across markets broaden to include sectors beyond those seen as the primary beneficiaries of an economic reopening. As expected, the recovery hasn't been smooth sailing for all, with su...
Metal prices have been rising this year, in part because of a rapid recovery in consumer spending and manufacturing following last year's lockdowns. Constrained supply is also a major driver of metal prices. In some cases, such as copper and zinc, this has been from lockdowns in major...
One of my many favorite tools to use when analyzing the markets is a Relative Rotation Graph (or “RRG”). I’m going to focus on using RRG to explain what’s happening under the surface in the market today. You can put any benchmark in the middle, at the z...
Global steel demand (SLX) will jump 5.8% this year as economies recover from the pandemic, but growth will moderate next year to 2.7% as the impact of stimulus spending diminishes, the World Steel Association says.The group raises its 2021 forecast from its October estimate of 4.1% growth, as...
As the global economy recovers, inflationary pressures are building, and price increases are moving downstream. Our Materials Price Index (MPI) has surged 40% since mid-November 2020, reaching its highest level since early 2014. World real GDP is projected to advance 5.1% in 2021 ...
Steel names open with strong gains after Cleveland-Cliffs ([[CLF]] +16.2%) provided guidance for Q1 and FY 2021 adjusted EBITDA that easily beat analyst estimates.Cleveland-Cliffs said it foresees full-year adjusted EBITDA of ~$3.5B, well ahead of the $2.87B consensus, based on expectations f...
Steel stocks are marching higher as ArcelorMittal ([[MT]] +7.0%) raises prices for hot-rolled coil offers to €900/mt and hot-dipped galvanized offers to €1,500/mt across Europe, S&P Global Platts reports.The fresh increase from €850/mt for HRC and €970/mt for H...
Seaborne iron ore prices hit a 10-year high this month at $178 per ton before profit taking. But following the release of details in China's new Five-Year Plan calling for wide-ranging and ambitious targets to reduce environmental pollution, iron ore prices experienced a sharp sell-of...
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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...