13.14 0.00 (0.00%)
Pre-Market: 8:20AM EDT
|Bid||12.90 x 1000|
|Ask||13.12 x 4000|
|Day's Range||12.88 - 13.20|
|52 Week Range||8.97 - 15.24|
|PE Ratio (TTM)||17.47|
|Forward Dividend & Yield||0.28 (2.11%)|
|1y Target Est||15.16|
While strong margins have been prompting Chinese steel mills to continue increasing output for the last several months, economic jitters have started to weigh on margins. The steel prices in China remained more or less range bound in June despite lower inventories. The ongoing tit-for-tat trade tariffs and the impact of China’s new monetary measures could have a far-reaching impact on the activity in a number of sectors in the country, impacting steel demand. Thus, market participants are currently on the sidelines waiting for more clarity.
Wheaton Precious Metals just inked a streaming deal for a commodity outside of its core focus. It's about more than diversification.
It’s important for iron ore investors to track the demand patterns in China since it consumes more than 70% of seaborne-traded iron ore (COMT). In this part of the series, we’ll look at iron ore imports and Chinese steel production and assess its future outlook. After increasing by 0.8% YoY (year-over-year) in April, China’s iron ore imports grew 2.9% YoY to 94.1 million tons in May, which is an increase of 13.5% sequentially.
VANCOUVER, June 28, 2018 /CNW/ - Wheaton Precious Metals™ Corp. ("Wheaton" or the "Company") is pleased to announce that it has completed the acquisition of a Cobalt Stream from a subsidiary of Vale S.A. ("Vale") (NYSE:VALE - News). Under the Cobalt Stream, Wheaton will be entitled to receive an amount of finished cobalt equal to a fixed percentage of cobalt production from the Voisey's Bay mine.
Can Iron Ore Prices Break Their Trading Range and Rise in H2 2018? Aggregate financing in China (MCHI), which reflects the total funds provided by a financial system to its non-financial sectors and households, slumped significantly in May compared to the previous month. The financing stood at 761 billion yuan in May, from ~1.56 trillion yuan in April.
China’s total vehicle sales (XLY) climbed 9.6% in May to 2.3 million, followed by an 11.5% jump YoY (year-over-year) in April. According to the China Association of Automobile Manufacturers, rising consumer demand amid a strong domestic macroeconomic environment led to this strong gain. The sales in the first five months climbed 5.7% to 11.79 million units. April’s Beijing auto show might also have added to the growth in vehicle sales witnessed in May.
Can Iron Ore Prices Break Their Trading Range and Rise in H2 2018? The boom in China’s property markets has raised concerns of a bubble, which has prompted authorities to tame property prices through tighter credit and other curbs. China’s property investment grew 9.8% in May year-over-year (or YoY), which is slower than the 10.2% growth recorded in April.
China consumes more than 70% of seaborne-traded iron ore. It’s therefore imperative for iron ore investors to track the country’s demand and outlook to gauge iron ore’s outlook. After increasing by 0.8% YoY (year-over-year) in April, China’s iron ore imports grew 2.9% YoY to 94.1 million tons, which also implies growth of 13.5% sequentially.
Australia and Brazil (EWZ) are the major seaborne iron ore exporters. It’s therefore very important to track the exports from these countries, as they offer a clue about the current supply situation.
Iron ore prices have been losing lately due to the general pressure on commodities following the escalation of trade war tensions. But, overall, prices have traded in a narrow range of $64–$68 per ton, as is evident in the graph below.
Almost in line with peers Rio Tinto (RIO) and BHP Billiton (BHP), Vale (VALE) had returned 13% year-to-date as of June 7. Lately, Brazilian stock is being pressured due to economic and political issues facing the country. The nationwide truckers’ strike against high diesel prices has hit stocks. On June 7, the Brazilian real hit a two-year low, which led to a widespread sell-off. The iShares MSCI Brazil ETF (EWZ) is on track to lose 20% so far this year amid these concerns.
The number of analysts recommending “buy” for Vale (VALE) has fallen in the last few months. Currently, 56% of analysts covering the stock recommend “buy,” compared with 65% at the end of December 2017. Approximately 39% of analysts recommend “hold,” and 5% recommend “sell.” Vale’s target price implies a 3% upside based on its current market price.
Vale (VALE) likely to stream $700-million cobalt output for gathering finances in order to transform the company's Voisey's Bay mine.
VANCOUVER, June 11, 2018 /CNW/ - Wheaton Precious Metals™ Corp. ("Wheaton" or the "Company") is pleased to announce that it has agreed to acquire from a subsidiary of Vale S.A. ("Vale") (NYSE:VALE - News) an amount of finished cobalt equal to a fixed percentage of cobalt production from the Voisey's Bay mine (the "Cobalt Stream"). Wheaton will pay Vale upfront cash consideration of US$390 million upon closing of the Cobalt Stream. In addition, Wheaton will make ongoing payments of 18% of the Metal Bulletin market price ("cobalt spot price") per cobalt pound delivered1.
The construction of Vale SA's Voisey's Bay underground mine will start this summer, Dwight Ball, the premier of Newfoundland and Labrador said on Monday. Vale in 2015 had approved the construction of an ...
Vale (VALE) remains on track to lower debt with increased free cash flow generation, however, rising cost of sales remains a concern.
NEW YORK, NY / ACCESSWIRE / June 7, 2018 / U.S. equities closed in the green on Wednesday, as bond yields rose pushing financial sector higher. The Dow Jones Industrial Average jumped 1.40 percent to close ...
Under evaluation this morning are these four stocks: Platinum Group Metals Ltd (NYSE AMER: PLG), Smart Sand Inc. (NASDAQ: SND), Uranium Energy Corp. (NYSE AMER: UEC), and Vale S.A. (NYSE: VALE). Vancouver, Canada headquartered Platinum Group Metals Ltd's stock finished Wednesday's session 2.64% higher at $0.11.
The bloom appears to have come off the emerging markets rose. Higher U.S. interest rates, a stronger dollar, rising oil prices, and trade tensions are creating a "stress test" for emerging markets. Foreign investors pulled out an estimated net $12.3 billion in emerging markets in May, according to the Institute of International Finance, with money coming out about evenly between debt and equity markets.
Aggregate financing in China (MCHI), which reflects the total funds provided by a financial system to its nonfinancial sectors and households, stood at ~1.56 trillion yuan in April, beating the estimate of 1.35 trillion yuan and the upwardly revised March figure of 1.33 trillion yuan.
Since China contributes more than 70% of seaborne-traded iron ore, investors should track the country’s demand to gauge the commodity’s outlook. After falling 9.8% YoY (year-over-year) in March, China’s iron ore imports inched up by 0.8% in April to 82.9 million tons. Chinese steel mills opened up in mid-March after winter production curbs were lifted, which may have boosted volumes slightly. However, this rise was not significant—although analysts were expecting volumes to improve sequentially, they fell 3.8%.
In this article, we’ll look at China’s iron ore port inventories and what they suggest for iron ore prices. These inventories reflect the difference between demand and supply. Usually, if iron ore isn’t used up by steel mills, it piles up at ports. Therefore, increasing inventories reflect weak demand, and vice versa.