At 6:45 AM EST on August 9, the West Texas Intermediate crude oil futures contracts for September 2017 delivery were trading at $49.45 per barrel.
Intrepid Potash’s (IPI) 2Q17 margins saw meaningful improvement for its Potash segment, while the Trio segment’s margins remained under pressure.
Intrepid Potash’s 2Q17 price realizations for its Potash segment were significantly better compared to 2Q16.
Overall shipment volumes for Intrepid Potash (IPI) stood at 162,000 tons in2Q17, which fell 19% YoY (year-over-year) from 201,000 tons.
Intrepid Potash (IPI) stock had impressive growth in 2017. However, the company’s sales growth continues to remain in negative territory YoY.
As of the week ending August 4, 2017, Intrepid Potash (IPI) stock rose 26% through the week and settled at $3.83 per share.
Previously in this series, we’ve looked at China’s July steel and aluminum exports. In this final part of the series, we’ll look at Chinese copper imports.
All of the merger conditions have been satisfied. Dow Chemical and DuPont stock will stop trading after the close on August 31, 2017.
On July 31, 2017, Air Products and Chemicals (APD) announced that it entered into a business agreement with TP JGC Coral France.
On August 2, 2017, Celanese (CE) announced that it’s increasing the prices of a few acetyl intermediates. The price increase will be effective immediately.
On August 2, 2017, Tronox (TROX) announced that it entered into a definitive agreement with Genesis Energy LP (GEL) to sell its alkali chemicals business.
Franco-Nevada and Hecla Mining have year-to-date gains of 24.6% and 3.6%, respectively.
On August 2, 2017, Silver Wheaton, Coeur Mining, Barrick Gold, and IamGold had volatilities of 30.8%, 45.6%, 28.1%, and 50.4%, respectively.
Primero and Goldcorp have seen the highest correlation with gold, while Goldcorp has the lowest correlation.
Silver Wheaton has the highest correlation with gold, while Franco-Nevada has the lowest correlation.
Most mining shares saw a downturn in their price on August 3 as precious metals also fell. The past few weeks were beneficial for miners.
Precious metal miners closely follow fluctuations in gold. However, on July 27, 2017, gold prices rebounded and many miners fell.
When reading the platinum market, it’s important to look at the relative performance of platinum and gold by using the gold-platinum ratio.
Palladium is the precious metal with the highest returns on a YTD basis. It has risen 28.6% YTD. The other three precious metals have been slower.
For Chemours (CC), 88% of the analysts recommended a “buy,” 12% recommended a “sell,” and none of the analysts recommended a “hold.”