Friday, December 08, 2017 10:36:57 AM
Dec. 8, 2017 8:30 AM ET|By: Carl Surran, SA News Editor
Metals stocks are mostly higher after China reported exports surged 12.3% in November from a year ago, more than double expectations, and imports climbed 17.7%; X +1.5%, VALE +1.3%, BHP +1.2%, CLF +0.9%, FCX +0.8%, RIO flat in premarket trade.
China’s demand for commodities jumped, as the world’s largest consumer of raw materials saw higher imports of copper, crude oil and iron ore; shipments of copper soared 42%, iron ore jumped 19%, and imports of crude oil hit 9.04M bbl/day, their second highest recorded level ever.
Traders say the import data should help support commodity prices, which have been hit by concerns about slowing economic growth in China.
Jefferies analysts say sharp declines in Chinese finished steel exports show improved supply-side discipline while low inventories and strong prices and margins further highlight market tightness; the firm says ArcelorMittal (NYSE:MT) is its sector favorite.
___________________________________________
https://seekingalpha.com/news/3317201-metals-stocks-move-china-s-commodity-demand-picks?app=1&uprof=46#email_link
CLF
Recent CLF News
- Cleveland-Cliffs Receives Canadian Competition Bureau Clearance for the Acquisition of Stelco • Business Wire • 10/09/2024 10:00:00 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 10/08/2024 09:27:22 PM
- Cleveland-Cliffs Inc. Announces Upsizing and Pricing of Senior Unsecured Guaranteed Notes • Business Wire • 10/08/2024 08:45:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 10/08/2024 12:26:00 PM
- Cleveland-Cliffs Inc. Announces Proposed Offering of Senior Unsecured Guaranteed Notes • Business Wire • 10/08/2024 12:08:00 PM
- Cleveland-Cliffs Clears U.S. Department of Justice Antitrust Review for the Acquisition of Stelco • Business Wire • 10/08/2024 11:00:00 AM
- Cleveland-Cliffs and United Steelworkers to Host Senior U.S. Government Officials at its Coatesville, Pennsylvania Steel Plant • Business Wire • 10/07/2024 11:00:00 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 10/02/2024 09:16:22 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 10/02/2024 09:15:43 PM
- Form SD - Specialized disclosure report • Edgar (US Regulatory) • 09/20/2024 08:23:00 PM
- Cleveland-Cliffs Announces Shareholder Approval of Arrangement to Acquire Stelco • Business Wire • 09/16/2024 08:15:00 PM
- Cleveland-Cliffs Reaffirms Commitment to Middletown Works Decarbonization Project and Ongoing Partnership with the U.S. Department of Energy • Business Wire • 09/16/2024 06:15:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/13/2024 08:33:33 PM
- Cleveland-Cliffs Successfully Amends Asset-Based Lending Facility • Business Wire • 09/13/2024 12:31:00 PM
- Cleveland-Cliffs Commends President Biden’s Reported Decision to Block Foreign Ownership of U.S. Steel by Japan’s Nippon Steel • Business Wire • 09/05/2024 08:46:00 PM
- Cleveland-Cliffs Announces Promotion of Michael Hrosik to Senior Vice President, Commercial • Business Wire • 08/21/2024 04:16:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/16/2024 09:17:13 PM
- Cleveland-Cliffs’ New 4-Year Labor Contract with the UAW Ratified at Dearborn Works • Business Wire • 08/16/2024 05:38:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 08/13/2024 09:14:47 PM
- Cleveland-Cliffs Inc. Announces Upsizing and Pricing of an Additional $600 Million Senior Guaranteed Notes due 2032 • Business Wire • 08/13/2024 08:11:00 PM
- Cleveland-Cliffs Inc. Announces Proposed Offering of an Additional $500 Million Senior Guaranteed Notes due 2032 • Business Wire • 08/13/2024 01:07:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/01/2024 07:12:56 PM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 07/24/2024 08:19:46 PM
- SAP Shares Surge 6%, NXP Declines 8% on Lower-than-Expected Profits, and More Earnings Highlights • IH Market News • 07/23/2024 10:02:34 AM
- Form 8-K - Current report • Edgar (US Regulatory) • 07/22/2024 08:47:27 PM
FEATURED Element79 Gold Corp. Reports Significant Progress in Community Relations and Development Efforts in Chachas, Peru • Oct 9, 2024 10:30 AM
Unitronix Corp Launches Share Buyback Initiative • UTRX • Oct 9, 2024 9:10 AM
BASANITE INDUSTRIES, LLC RECEIVES U.S. PATENT FOR ITS BASAFLEX™ BASALT FIBER COMPOSITE REBAR AND METHOD OF MANUFACTURING • BASA • Oct 9, 2024 7:30 AM
BNCM COMPLETES MERGER WITH DELEX HEALTHCARE • BNCM • Oct 8, 2024 9:54 AM
CBD Life Sciences, Inc. (CBDL) Reaches Unprecedented Heights With Explosive Growth and Strategic Expansion in 2024 • CBDL • Oct 8, 2024 8:00 AM
Unitronix Corp. to Invest $3 Million in USA Unity Coin Project • UTRX • Oct 7, 2024 7:08 AM