BHP Billiton Limited

Most Recent

  • Why Rio Tinto has key advantages over its peers
    Basic Materials

    Why Rio Tinto has key advantages over its peers

    Rio is the largest owner and operator of autonomous—driverless—trucks in the world. These initiatives are part of Rio’s “Mine of the Future” program.

    By Anuradha Garg
  • Basic Materials

    Must-know: Is the share buyback the right thing to do?

    Cliffs Natural Resources’ (CLF) new management changed the terms of its debt agreement to repurchase the company’s shares. The shares are worth up to $200 million.

    By Anuradha Garg
  • uploads///cOPPER
    Basic Materials

    Copper Weaker on August 19 Due to Weaker Demand Signs

    After starting the day with decreased momentum, copper prices remains mixed on Friday, August 19. At 1:50 PM EDT on August 19, the COMEX copper futures contract for September delivery was trading at ~$2.17 per pound, a gain of ~0.16%.

    By Val Kensington
  • uploads///Base Metals
    Company & Industry Overviews

    All of the Base Metals Recovered Except for Tin

    After a string of losing days, base metals recovered on January 13, 2016. Except for tin, all of the base metals rose on January 13 in the LME.

    By Val Kensington
  • uploads///Aggregate financing
    Basic Materials

    How China’s Credit Growth Could Progress in 2018

    Aggregate financing in China (MCHI) came in at 1.6 trillion yuan in November 2017.

    By Anuradha Garg
  • uploads///
    Company & Industry Overviews

    Base Metal Miners Recover

    In the week ended December 26, the equities of all major base metal miners gained, recovering from losses in the week prior.

    By Val Kensington
  • uploads///UK
    Macroeconomic Analysis

    UK Industrial Production Regained Strength in August

    With a rise in mining and quarrying activities, the UK industrial production index rose by 1% in August 2015 against a fall of 0.3% in July.

    By Lara Sheldon
  • uploads///Copper
    Basic Materials

    Copper Rose to 1-Month High Price Levels on September 20

    At 1:15 PM EST on September 20, the COMEX copper futures contract for December delivery rose ~0.35%. It was trading at $2.16 per pound.

    By Val Kensington
  • uploads///Aggregate financing
    Macroeconomic Analysis

    China’s Credit Growth Metrics Also Worsen in April

    China’s credit growth clearly has been weaker than expected, especially given the recent easing measures adopted by the government.

    By Anuradha Garg
  • uploads///Productivity
    Basic Materials

    Why BHP focuses on productivity

    Under equipment, the focus is on increasing availability, utilization, and rate. A 6% increase in utilization helped achieve a 9% increase in group production in FY14.

    By Anuradha Garg
  • uploads///China interest rates
    Basic Materials

    How does Chinese credit easing help iron ore names?

    The immediate impact of Chinese credit easing was seen as China’s iron ore and rebar futures posted their strongest gains in three weeks.

    By Anuradha Garg
  • uploads///Industrial output
    Basic Materials

    China’s industrial output growth slows in November

    FAI is a good indicator of how much investment occurs in a country or region. It’s a closely watched indicator of construction activity in China.

    By Anuradha Garg
  • uploads///Copper
    Basic Materials

    Copper Weakened amid Recovery in Dollar on August 3

    After starting the day on a weaker note on Wednesday, August 3, copper maintained the same sentiment throughout the day and declined lower.

    By Val Kensington
  • uploads///Copper
    Macroeconomic Analysis

    Copper Remains Stable as Brexit Fears Eased

    Although the fundamentals are not as supportive of the Market’s sentiment, the weakness of the dollar and decreased anxiety over the Brexit vote helped copper on Friday.

    By Val Kensington
  • uploads///China crude steel production
    Macroeconomic Analysis

    China’s Crude Steel Production Impacts Iron Ore Miners Like Vale

    Since 98% of mined iron ore goes into making steel, it’s important to track steel production. China consumes two-thirds of seaborne iron ore.

    By Anuradha Garg
  • uploads///copper
    Macroeconomic Analysis

    Copper, Gold, and Silver Are Trading Lower on Thursday Morning

    Copper is trading lower on Thursday. At 6:36 AM EST, the COMEX copper futures contract for July delivery was trading at $2.06—a decline of 1.1%.

    By Val Kensington
  • uploads///cOPPER
    Macroeconomic Analysis

    Why Did Copper Ignore Stimulus from China?

    Copper prices experienced a roller coaster ride on Monday after important market-moving news from China.

    By Val Kensington
  • uploads///Japan imports
    Macroeconomic Analysis

    Japanese iron ore imports were flat year-over-year in 2014

    Japan accounts for 10%–13% of the seaborne market, so Japanese iron ore imports are another good indicator of demand.

    By Anuradha Garg
  • Basic Materials

    Why is the market reacting?

    Market analysts have started turning bearish on Cliffs Natural Resources (CLF). There are many downgrades. The target price has been revised down in recent weeks.

    By Anuradha Garg
  • Basic Materials

    Why the demerger of non-core assets makes sense for BHP

    BHP had been contemplating whether to sell the non-core assets or go for a demerger. Finally, the company decided in favor of a demerger on August 15. The proposed company will likely have assets in the range of $12–$20 billion.

    By Anuradha Garg
  • uploads///Miners
    Macroeconomic Analysis

    Base Metal Miners on Tuesday, March 22: Some Up, Some Down

    Freeport-McMoRan (FCX), one of the largest copper miners, rose for the second consecutive trading day on Tuesday, March 22, 2016. It closed the day at $10.99, a rise of 1.8%.

    By Val Kensington
  • uploads///Freeport
    Macroeconomic Analysis

    Why Did Merrill Lynch Resume Coverage of Freeport-McMoRan?

    On Wednesday, March 2, 2016, Merrill Lynch resumed Freeport-McMoRan’s (FCX) coverage, with a neutral rating and a price target of $9.

    By Val Kensington
  • uploads///FCF Estimates
    Basic Materials

    Factors That Could Cause an Upside to CLF’s Free Cash Flow in 2017

    Cleveland-Cliffs’ management noted during its 4Q16 earnings call that it is expecting to generate FCF of $550 million in 2017.

    By Anuradha Garg
  • uploads///Miners
    Macroeconomic Analysis

    Base Metal Miners Freeport-McMoRan and Glencore Fell Last Week

    Freeport-McMoRan is one of the largest copper miners in the world. It fell for the second consecutive trading week. In the week ending on April 2, it fell 2.2%.

    By Val Kensington
  • uploads///part
    Macroeconomic Analysis

    Copper Prices Hold at $4,500 amid Commodity Meltdown

    Copper has been on a downtrend for nearly two months. The goodwill generated by supply cuts by major miners failed to last beyond a month, and copper again resumed its downtrend.

    By Mohit Oberoi, CFA
  • uploads///debt levels
    Macroeconomic Analysis

    Alcoa’s Leverage Ratio Misses The Mark

    Alcoa’s leverage ratio has increased over 2Q 2014. This basically means that the proportion of debt in Alcoa’s capital structure has increased.

    By Mohit Oberoi, CFA
  • Basic Materials

    Why Alcoa is improving its competitive position

    Alcoa idled several smelting plants since 2007. Its aluminum smelting capacity has come down by 28% over the period. Most of these smelters had high unit production costs.

    By Mohit Oberoi, CFA
  • uploads///ana abad  unsplash
    Company & Industry Overviews

    Why Vale’s Iron Ore Margins Should Remain Supported

    In this series, we’ll see how Vale is planning to deal with the current volatile commodity price environment.

    By Anuradha Garg
  • uploads///goldman
    Company & Industry Overviews

    Must Know: Goldman Provided Fodder to Copper Bears

    Goldman Sachs (GS) now expects copper prices to fall to $4,000 per metric ton this year. In its previous guidance, Goldman had expected copper to fall to $4,500 per metric ton in 2016.

    By Mohit Oberoi, CFA
  • uploads///Quarterly production
    Macroeconomic Analysis

    What Does the Current Supply Outlook Mean for Iron Ore Prices?

    The weak demand from China is hurting iron ore prices. The supply side, on the other hand, remains quite strong.

    By Anuradha Garg
  • uploads///Initial
    Macroeconomic Analysis

    Copper, Gold, and Silver Are Stable Early on October 7

    At 6:35 AM EST on October 7, the COMEX copper futures contract for December delivery was trading at $2.15 per pound—a fall of ~0.12%.

    By Val Kensington
  • uploads///Base Metals
    Macroeconomic Analysis

    Why Did Base Metals Fall in the Second Week of March?

    LME nickel fell to lower price levels last week and stood as the biggest loser in base metals. It fell 5.5% and ended the week at $8,830 per metric ton.

    By Val Kensington
  • Energy & Utilities

    Must-know: Petroleum doing well, but potash is slow

    Total petroleum production increased by 4% in fiscal year 2014 (or FY14). However, the highlight was the increase in liquids production. It was supported by a 73% increase in Onshore U.S. liquid volumes and nearly doubled production at Atlantis. This is important to note because liquid volumes are more profitable.

    By Anuradha Garg
  • Basic Materials

    Why did the Cliff’s share price rally?

    Iron ore prices are down 19% year-over-year (or YoY) and coal prices are down 30% YoY—volumes were also down YoY, but the stock rallied 7% in a single trading session the next day of the earnings call and up 3% the subsequent trading day.

    By Anuradha Garg
  • uploads///
    Company & Industry Overviews

    Base Metals Dive after Opening the Week on a Surge

    All base metals declined that day on the LME, and LME nickel was the biggest loser of the day in base metals with a decline of 2.8%.

    By Val Kensington
  • uploads///Copper
    Basic Materials

    Why Is Copper Trading High in the Early Hours on September 14?

    At 6:20 AM EST on September 14, the COMEX copper futures contract for December delivery was trading at $2.13 per pound—a gain of ~1.2%.

    By Val Kensington
  • uploads///base metals
    Company & Industry Overviews

    Base Metals Continue to Rise in the London Metal Exchange

    The base metals found some relief on January 13, 2016. They carried the same positive sentiment to January 14. All of the base metals rose in the LME.

    By Val Kensington
  • uploads///COPPER
    Basic Materials

    Copper Dove in July 22 Due to a Stronger Dollar

    At 1:15 PM EDT on July 22, major copper producers Freeport-McMoRan (FCX), Billiton (BHP), and Rio Tinto (RIO) fell by ~1.7%, ~1.7%, and ~1.19%, respectively.

    By Val Kensington
  • uploads///Analysts forecasts
    Macroeconomic Analysis

    Why Goldman and Macquarie Don’t Think Iron Ore Rally Will Last

    Goldman Sachs (GS) has warned the Markets that iron ore prices will slump below $40 per ton as supply growth outpaces demand.

    By Anuradha Garg
  • Basic Materials

    Must-know: Why Brazilian iron ore exports fell 9% in August

    Brazilian exports show how much volume is shipped out of Brazilian ports to China and the rest of the world. Along with exports from Port Hedland, Australia, this is an important supply side indicator.

    By Anuradha Garg
  • uploads///Steel prices
    Miscellaneous

    China’s Steel Prices Might Have Started Giving Up: More Downside?

    One of the most dominant factors driving iron ore’s price rally is rising steel production and the resulting increase in steel prices in China (FXI).

    By Anuradha Garg
  • uploads///Chinas Industrial Production in November
    Miscellaneous

    China Moves from Manufacturing to Consumption: Impact on Iron Ore

    Over the past few months, we’ve seen that China (MCHI) (ASHR) is transitioning from a manufacturing-based to consumption-based economy.

    By Anuradha Garg
  • uploads///China steel production
    Macroeconomic Analysis

    China’s Steel Production Outlook Pressures Iron Ore Prices

    According to the China Iron and Steel Association, China’s 2015 crude steel output could decline by as much as 2%. This estimate is lower than CISA’s March estimate of a 1.1% decline.

    By Anuradha Garg
  • uploads///part  copper production
    Macroeconomic Analysis

    World Refined Copper Production Rose 5% in 1Q15

    Refined copper production in China rose 9% YoY until March. China was the biggest contributor to the surge in refined copper production.

    By Mohit Oberoi, CFA
  • uploads///Estimates_iron oreprices
    Miscellaneous

    Why Analysts Have Mixed Views on Iron Ore Prices

    Goldman Sachs (GS) is notably still quite bearish on iron ore. The bank cited the recent string of shipment data from Australia to support its view.

    By Anuradha Garg
  • uploads///Untitled
    Company & Industry Overviews

    Could the OPEC Meeting Have an Impact on Alcoa?

    It could be déjà vu for Alcoa (AA) investors after the OPEC meeting on December 4, 2015. Last year’s decision to maintain daily crude output had a negative impact on all commodities.

    By Mohit Oberoi, CFA
  • uploads///Copper
    Macroeconomic Analysis

    How Were Copper, Gold, and Silver Trading on Monday?

    China’s better-than-expected growth in real estate investments in April supported copper prices on Monday.

    By Val Kensington
  • uploads///aluminum pemiums
    Earnings Report

    Lower Aluminum Prices Dint Alcoa’s 1Q 2015 Earnings

    Alcoa prices its aluminum with a 15-day lag to LME aluminum prices. Its 1Q earnings lost $84 million due to a decline in aluminum prices.

    By Mohit Oberoi, CFA
  • uploads///Iron ore companies performance
    Macroeconomic Analysis

    It’s Hard to Be Positive on Long-Term Iron Ore Price Fundamentals

    Vale SA will cut the high-cost iron ore production from its Southern and Southeastern systems by 25 million–30 million tons per year. Its 2015 iron ore guidance production is unchanged at 340 million tons.

    By Anuradha Garg
  • uploads///VALE_Estimates
    Miscellaneous

    Understanding S11D’s Impact on Vale’s Earnings Estimates for 2017

    Vale’s total volumes should see a significant boost from iron ore volumes as its S11D project starts commercial production.

    By Anuradha Garg
  • uploads///VGPMX NAV chart
    Macroeconomic Analysis

    VGPMX Has Underperfomed the Market

    Vanguard Precious Metal and Mining Investment Fund (VGPMX) lags in diversification, as it’s a pure sector fund.

    By Ivan Kading
  • uploads///Valuation
    Miscellaneous

    What is Driving the Valuation for Iron Ore Miners?

    Valuation multiple The EV-to-EBITDA (enterprise value to earnings before interest, tax, depreciation, and amortization) multiple is a widely used relative valuation multiple for capital-intensive industries such as metals and mining. It takes into account a company’s capital structure. By using this multiple, we can compare companies’ valuations. Miners’ EV-to-EBITDA Vale (VALE) has a forward EV-to-EBITDA multiple […]

    By Anuradha Garg
  • uploads///Civeo
    Fund Managers

    Civeo impacted by customers’ plans to trim capital spending

    Civeo said the demand for its services depends on its customers’ capital spending programs. As a result, it’s one of the first to suffer losses when oil drillers pare back exploration.

    By Adam Rogers
  • uploads///China Steel production
    Miscellaneous

    Understanding China’s Monthly Record in Steel Production

    In April, China’s steel production surpassed the previous monthly record of 72 million achieved in March 2017 by producing 72.78 million tons.

    By Anuradha Garg
  • uploads///lme rules
    Macroeconomic Analysis

    2 Factors That Could Impact Aluminum Premiums In 2015

    Aluminum premiums are negotiated between aluminum warehouses and the end buyers. This makes them less susceptible to speculation.

    By Mohit Oberoi, CFA
  • uploads///part
    Basic Materials

    Freeport-McMoRan’s Technical and Fundamental Indicators

    Freeport-McMoRan (FCX) closed at $10.54 on September 21. It rose almost 6% from its closing the previous day. The stock has gained 2.4% in September.

    By Mohit Oberoi, CFA
  • uploads///part  deficit
    Basic Materials

    How Does Alcoa’s Record Aluminum Deficit Projection Look?

    Earlier, Alcoa projected a 1.1 million metric ton deficit for global aluminum markets. It revised down its deficit projection during its 2Q16 conference call.

    By Mohit Oberoi, CFA
  • uploads///dedaeeca
    Macroeconomic Analysis

    UK Stock Market Stymies Awaiting a US Rate Hike in September

    September 4 saw rises in none of the 109 constituent stocks of the EWU. The Fed’s rate-hike indecision impacted UK investors.

    By Renee Blakely
  • uploads///EUROPE
    Macroeconomic Analysis

    Latest European Economic Data Points to Recovery

    The latest European economic data point to a recovery. However, there are still several sectors, such as housing, where demand is weak.

    By Mohit Oberoi, CFA
  • uploads///part  gold
    Basic Materials

    Why Freeport Needs a Friendly Fed Like Never Before

    Higher gold prices couldn’t have come at a better time for Freeport. The company is grappling with sagging metal prices in its core copper mining business.

    By Mohit Oberoi, CFA
  • uploads///aluminum price
    Basic Materials

    Trouble Ahead For Alcoa? Halcyon Days Of 2014 Could Be Over

    Aluminum prices were strong for most of 2014. But OPEC changed all that last fall when it decided to maintain crude oil output levels.

    By Mohit Oberoi, CFA
  • uploads///last
    Earnings Report

    ArcelorMittal’s Key Risks in 2H15: Investor Must-Knows

    ArcelorMittal faces certain macro risks. We’ll discuss these risks in this part of our series.

    By Mohit Oberoi, CFA
  • uploads///europe indicators
    Macroeconomic Analysis

    Europe’s Stagnant Industrial Production Impacts ArcelorMittal

    The industrial production has been stagnant for several quarters now. The slowdown in Europe also impacts mining giants like Rio Tinto (RIO) and BHP Billiton (BHP).

    By Mohit Oberoi, CFA
  • uploads///Performances of the Country ETFs
    Macroeconomic Analysis

    Why Is the United Kingdom’s Stock Market Buoyant?

    The iShares MSCI United Kingdom (EWU) rose 1.1% on Thursday, October 8. On Thursday, 82 stocks rose out of EWU’s 109 constituent stocks.

    By Renee Blakely
  • uploads///metals and mining segment
    Company & Industry Overviews

    Understanding Glencore’s Metals and Mining Business

    Glencore’s metals and mining segment was the second-biggest contributor to its 1H15 revenues.

    By Mohit Oberoi, CFA
  • uploads///Petroleum
    Earnings Report

    BHP Billiton Is Deferring Petroleum Production, but Can It Generate Value?

    The key to understanding profitability for BHP’s Petroleum division is looking unit costs of petroleum and its outlook on these going forward.

    By Anuradha Garg
  • uploads///Aggregate financing
    Miscellaneous

    Will Iron Ore Prices Benefit from China’s Credit Growth Prospects?

    China’s aggregate financing stood at ~3.7 trillion Chinese yuan in January 2017, as compared to 1.6 trillion yuan in December 2016.

    By Anuradha Garg
  • uploads///Cost cutting
    Earnings Report

    How Will Cliffs Natural Resources’ Costs Progress in 2017?

    In 4Q16, Cliffs’ cash costs of goods sold for APIO was $36.4 per ton, or 8% higher YoY.

    By Anuradha Garg
  • uploads///Iron ore prices
    Miscellaneous

    Seaborne Iron Ore Prices Look Firm, Supporting Cliffs

    For the first time in two years, in November, iron ore prices crossed the $80 per ton level, and YTD gains for the steel-making commodity have reached 82%.

    By Anuradha Garg
  • uploads///Valuation
    Miscellaneous

    Which Iron Ore Miners Currently Look Undervalued or Overvalued?

    Rio Tinto has received a boost due to its recent announcement regarding $5 billion of additional free cash flow generation through productivity improvements.

    By Anuradha Garg
  • uploads///Debt
    Basic Materials

    What Rio Tinto’s Balance Sheet Means for Future Growth

    Rio Tinto’s (RIO) net debt at the end of 1H17 was $7.6 billion, compared with $12.9 billion at the end of 1H16 and $9.6 billion at the end of December 2016.

    By Anuradha Garg
  • uploads///UNIT PRODUCTION COSTS
    Earnings Report

    What to Expect from Freeport-McMoRan’s 3Q15 Earnings

    Looking at Freeport’s earnings sensitivity to WTI and copper prices, its 3Q15 earnings could take a hit compared to the previous quarter.

    By Mohit Oberoi, CFA
  • uploads///EWU versus the mining stocks
    Macroeconomic Analysis

    Uptrend Continues in Mining Stocks

    The uptrend in mining stocks continued on October 2, 2015, as 85 of 109 stocks in the iShares MSCI United Kingdom ETF returned positive gains on the day.

    By Renee Blakely
  • uploads///APIO Volumes
    Earnings Report

    Cliffs’ Asia-Pacific: Will Strong Seaborne Iron Ore Prices Lead to Mine-Extension?

    Seaborne iron ore prices have held firm in 2016 and 2017 YTD, despite market participants calling for a downturn.

    By Anuradha Garg
  • uploads///EF prod
    Company & Industry Overviews

    Key Insights on the Eagle Ford Shale

    The Eagle Ford Shale is a gas and oil producing shale formation in south Texas. It extends to northeast Texas and touches the Mexican border. In this series, we’ll look at drilling activity in the region.

    By Keisha Bandz
  • uploads///Intro
    Miscellaneous

    Here’s What’s Driving Iron Ore Prices through the Roof

    Iron ore prices reached a six-month high of $62.7 per ton on October 26, 2016, bringing the YTD (year-to-date) gains for the commodity to an impressive 46%.

    By Anuradha Garg
  • uploads///part
    Company & Industry Overviews

    Will Freeport Follow Glencore and Restore Its Dividend?

    Freeport-McMoRan and Glencore suffered from the same issues last year. While Glencore restored its dividend, Freeport hasn’t restored its dividend yet.

    By Mohit Oberoi, CFA
  • uploads///Slight Fall in Business Confidence in Chile in
    Macroeconomic Analysis

    What Chile’s Mining Strike Means for a Highly Privatized Economy

    Chile had been known as the best-managed economy in Latin America—until recently.

    By Mary Sadler
  • uploads///China aluminum export
    Basic Materials

    China Has A Limited Impact On The Global Aluminum Industry

    Bauxite is the main raw material in aluminum production. China lacks high-quality bauxite reserves. Until last year, China was relying on bauxite from Indonesia.

    By Mohit Oberoi, CFA
  • uploads///Balance sheet
    Earnings Report

    BHP’s Balance Sheet: The 2017 Outlook

    BHP’s net debt was $20.1 billion at the end of December 2016, as compared to $26.1 billion on June 30, 2016.

    By Anuradha Garg
  • uploads///part  grasberg
    Basic Materials

    Why October Could Be a Crucial Month for Freeport-McMoRan

    In the previous parts of this series, we looked at some of the macro developments that could impact Freeport-McMoRan (FCX) in October.

    By Mohit Oberoi, CFA
  • uploads///Iron ore prices
    Earnings Report

    Inside BHP Billiton’s Iron Ore Price Concerns

    Iron ore prices were very strong in 2016 and have remained so year-to-date. Prices increased by more than 80% in 2016.

    By Anuradha Garg
  • uploads///part  copper
    Basic Materials

    Don’t Get Too Carried Away with Record Chinese Copper Imports

    China is the world’s biggest copper importer.

    By Mohit Oberoi, CFA
  • uploads///mining _
    Basic Materials

    Freeport-McMoRan’s 1Q18 Earnings: The Word on Wall Street

    Freeport-McMoRan, the leading US copper miner, is slated to release its 1Q18 earnings on April 24.

    By Mohit Oberoi, CFA
  • uploads///Iron ore shipments
    Miscellaneous

    Inside the Strong Iron Ore Shipments in January

    In January 2017, 40.3 million tons of iron ore were exported from Port Hedland—an impressive rise of 19.0% YoY.

    By Anuradha Garg
  • uploads///Dividends
    Earnings Report

    Will BHP Billiton Borrow to Maintain Progressive Dividends in 2016?

    During its AGM on October 22, BHP highlighted its commitment to a strong, stable balance sheet, specifying that it won’t put its “A” credit rating at risk.

    By Anuradha Garg
  • uploads///part  analysts
    Miscellaneous

    How Analysts Are Rating CENX Leading Up to Its 4Q16 Results

    In this article, we’ll analyze how analysts are rating Century Aluminum leading up to its 4Q16 earnings.

    By Mohit Oberoi, CFA
  • uploads///Capacity Utilization
    Miscellaneous

    Do Steel Capacity Cuts in China Bode Well for Iron Ore Miners?

    China has been reeling under its overcapacity in the steel industry. In 2016, China planned to cut 45 million tons but wound up cutting 80 million tons.

    By Anuradha Garg
  • Basic Materials

    Why investors should know Cliffs’ outlook

    Cliffs Natural Resources (CLF) is mainly an iron ore producer. A small percentage of its revenue comes from metallurgical coal sales.

    By Anuradha Garg
  • uploads///Copper
    Basic Materials

    Copper Fell and Gold Stabilized on July 5

    At 6:40 AM EST on July 5, the COMEX Copper futures contract for September delivery was trading at $2.2 per pound—a drop of 0.81%.

    By Val Kensington
  • uploads///Iron ore imports
    Miscellaneous

    What China’s High Iron Ore Imports Suggest

    China imported 92 million tons of iron ore in January 2017—a growth of 12.0% YoY and 3.4% month-over-month.

    By Anuradha Garg
  • uploads///BHP_Ratings
    Miscellaneous

    Inside BHP Billiton’s Recent Upgrades and Downgrades

    Of the 19 analysts covering BHP Billiton (BHP), four analysts issued “buy” recommendations, while 12 issued “holds,” and three issued “sells.”

    By Anuradha Garg
  • uploads///part  glencore
    Miscellaneous

    How Do Analysts Rate Glencore after 2016 Earnings?

    Glencore has come a long way since September 2015 when the stock fell to multiyear lows.

    By Mohit Oberoi, CFA
  • uploads///China steel productio
    Miscellaneous

    Are China’s Steel Capacity Cuts for Real?

    China produced 808.4 million tons of steel in 2016 and 68.9 million tons of steel products in December 2016—a YoY 7.1% rise.

    By Anuradha Garg
  • uploads///part  inventory
    Company & Industry Overviews

    Is There a Disconnect between Chinese Copper Imports and Demand?

    Oil and copper are two critical commodities that China is deficient in and must import in large quantities.

    By Mohit Oberoi, CFA
  • uploads///part  copper
    Macroeconomic Analysis

    Do Lower Chinese Copper Imports Concern Freeport?

    In October, China imported 290,000 metric tons of unwrought copper and copper products—a yearly fall of more than 31%. Imports have fallen for seven months.

    By Mohit Oberoi, CFA
  • Energy & Utilities

    China’s thermal coal imports—who benefits?

    Apart from shipping companies, coal producers (KOL) around the world benefit from China’s coal imports. However, competition in the Pacific market remains steep.

    By Mike Sonnenberg
  • uploads///crude prices
    Company & Industry Overviews

    Freeport-McMoRan Looks to Control Costs amid Copper Price Slump

    Copper companies have been working to reduce their unit production costs to survive the current slump in copper prices.

    By Mohit Oberoi, CFA
  • uploads///part  debt
    Company & Industry Overviews

    Copper’s Spike Could Impact Freeport’s Debt Reduction Plan

    During its 4Q15 earnings conference call, Freeport mentioned a debt reduction program to raise $5 billion–$10 billion to shore up its balance sheet.

    By Mohit Oberoi, CFA
  • uploads///part
    Basic Materials

    Freeport-McMoRan’s Debt Reduction Plan: Key Takeaways

    During its 4Q15 earnings conference call, Freeport-McMoRan (FCX) mentioned a debt reduction program to raise $5 billion–$10 billion to shore up its balance sheet.

    By Mohit Oberoi, CFA
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