Commercial Metals Co

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  • uploads///Cliffs vs iron ore
    Company & Industry Overviews

    Why Is Cliffs Going to Idle Iron Ore Pellet Production?

    Cliffs announced that it is going to temporarily idle its iron ore pellet production at its Northshore Mining operation in Minnesota by December 1, 2015.

    By Anuradha Garg
  • uploads///last auto
    Earnings Report

    What Makes Nucor Optimistic about Its Automotive Shipments?

    Nucor has been increasing its presence in the automotive sector over the last couple of years.

    By Mohit Oberoi, CFA
  • uploads///part  cash flows
    Earnings Report

    Why Investors Shouldn’t Fret over MT’s Negative Free Cash Flow

    In this article, we’ll look at ArcelorMittal’s 1Q17 cash flow and leverage positions. As of the end of 1Q17, ArcelorMittal had net debt of $12.1 billion.

    By Mohit Oberoi, CFA
  • uploads///US Steel production
    Company & Industry Overviews

    Declining US Steel Production is Hurting Cliffs

    US steel production trends are a good indicator of the health of Cliffs and other integrated iron ore producers in the United States.

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

    US Steel Demand: The Latest Indicators

    Steel demand is a key driver of steel companies’ performances, and the construction sector accounts for almost 40% of US steel demand.

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

    Cliffs Natural Resources: How US Steel Demand Is Progressing

    Since US steel demand is the major driver behind steel companies’ volumes and prices, it’s important to track the data for Cliffs Natural Resources (CLF).

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

    What’s Driving Cliffs Natural Resources’ US Volumes?

    Cliffs has already increased its production and sales guidance for 2016. Its sales guidance now stands at 18.0 million tons, a rise of 0.50 million tons.

    By Anuradha Garg
  • uploads///steel frame structure
    Basic Materials

    A Look at Analysts’ Top 5 US Steel Stocks

    In this overview article, we’ll see how analysts are rating the leading steel stocks, and we’ll also compare performance from the top five steel companies.

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

    Impact on CLF: Will the Trump Administration Listen to US Steelmakers?

    The American steel industry has written to President Donald Trump requesting that he restrict steel imports immediately.

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

    Oil Country Tubular Goods Imports Rise Steeply: Effect on Steel

    Looking at July imports data, HRC (hot rolled coil) imports fell ~27.0% year-over-year. However, imports rose on a monthly basis.

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

    How the Trend in US Steel Demand Affects Cliffs Natural Resources

    US housing starts totaled ~1.1 million in May against expectations of ~1.2 million, representing a drop of 5.5% year-over-year.

    By Anuradha Garg
  • uploads///part  us steel demand
    Company & Industry Overviews

    US Steel Demand Indicators Offer Mixed Signals

    Steel demand is a key driver of steel companies’ performances, and the construction sector accounts for almost 40% of US steel demand.

    By Mohit Oberoi, CFA
  • uploads///arch billing
    Basic Materials

    What Do Leading Indicators Tell Us about US Steel Demand?

    The construction sector is the leading steel consumer in the US. It accounts for ~40% of the total steel demand.

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

    How Do US Steel Demand Indicators Look in July?

    Housing starts in the US rose by 4.8% to a SAAR (seasonally adjusted annual rate) of 1.2 million units in June 2016.

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

    Did Joy Global’s Operating Cash Flow Really Improve in Fiscal 2Q16?

    Despite the operating loss of $9.8 million it saw in fiscal 2Q16, Joy Global reported cash generation from continuing operations totaling $44 million.

    By Jessica Stephans
  • uploads///steel price part
    Company & Industry Overviews

    What Slowdown? US Steel Prices Rose 50% This Year

    Steel companies’ earnings are sensitive to changes in steel prices. In recent quarters, their earnings have been negatively impacted by falling steel prices.

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

    Are There Any Relative Opportunities in the Steel Industry?

    May is turning out to be a rough month for steel companies as concerns over the health of the world’s second-largest economy have resurfaced.

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

    Scrap or Iron Ore: What Drives US Steel Prices?

    Even the recent uptick in US steel prices has been accompanied by strength in steel scrap prices.

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

    It’s Beginning to Look a Lot like a US Steel Consumption Cool Down

    If the Fed continues to raise rates in 2016, we could see the impact on the housing and automotive sectors, which would only add to steel’s woes.

    By Mohit Oberoi, CFA
  • uploads///us steel demand real estate
    Macroeconomic Analysis

    US Steel Demand Indicators Have Been Mixed

    Looking at steel demand indicators, we see that construction activity has generally been strong in 2015, with spending in the United States exceeding $1 trillion for seven consecutive months.

    By Mohit Oberoi, CFA
  • uploads///part  real estate
    Macroeconomic Analysis

    Chinese Steel Demand Indicators Have Faltered

    If you’re an investor in any of the steel companies (XME), you should explore how the Chinese (FXI) steel demand is playing out.

    By Mohit Oberoi, CFA
  • uploads///dri turning raw material loss
    Company & Industry Overviews

    Nucor’s Louisiana DRI Plant Could Finally See Turnarounds

    Last year, Nucor began production at its DRI plant in Louisiana, one of the largest plants in the world. The plant might see a positive cash flow this year.

    By Mohit Oberoi, CFA
  • uploads///part  steel prices
    Earnings Report

    Why Steel Companies Got Hit by Lower Steel Prices

    Most steel companies have reported that lower steel prices have more than offset the benefits from lower input prices in 2Q15. Steel companies posted a fall in unit production costs for the quarter.

    By Mohit Oberoi, CFA
  • uploads///part  steel demadn indicators
    Macroeconomic Analysis

    Do US Steel Demand Indicators Still Matter?

    Strong steel demand indicators in the US market have helped steel companies’ shipments in 2Q15.

    By Mohit Oberoi, CFA
  • uploads///arch billing index
    Macroeconomic Analysis

    Nucor Could Benefit From Higher Nonresidential Construction Spend

    Nonresidential construction spending has been on an uptrend, increasing 4.5% YoY in the first five months of 2015. This has supported the demand for steel products.

    By Mohit Oberoi, CFA
  • uploads///building permits
    Macroeconomic Analysis

    Indicators Point to Strengthening US Steel Demand

    Steel demand is dependent on the fortunes of its end users, and the construction sector is the biggest steel consumer in the United States.

    By Mohit Oberoi, CFA
  • uploads///china steel demand building sales
    Macroeconomic Analysis

    Chinese Steel Demand Indicators Trend Lower in March

    The construction sector accounts for more than half of China’s steel demand, as it uses steel products like rebars, decks, and joists.

    By Mohit Oberoi, CFA
  • uploads///part  world steel
    Macroeconomic Analysis

    Global Steel Consumption Is Expected to Grow 0.5% in 2015

    The WSA expects global steel consumption to grow by 0.5% in 2015 on a YoY basis. This was highlighted in the short range outlook released on April 20.

    By Mohit Oberoi, CFA
  • uploads///service center inventory
    Macroeconomic Analysis

    Steel Inventories in US Service Centers Decline Slightly in March

    Metal service centers acquire primary metals like carbon steel and aluminum from metal producers and process them to customer specifications.

    By Mohit Oberoi, CFA
  • uploads///real estate climate index
    Macroeconomic Analysis

    China Real Estate Climate Index Hits New Low In March

    The China real estate climate index measures the aggregate business activity for land and real estate.

    By Mohit Oberoi, CFA
  • uploads///building permits housing
    Macroeconomic Analysis

    Key Housing Industry Indicators US Steel Investors Should Track

    Analysts track new home sales as an important housing industry indicator. New home sales increased an impressive 24.8% in February.

    By Mohit Oberoi, CFA
  • uploads///houding starts
    Macroeconomic Analysis

    Why Lower Housing Starts in February Should Not Concern Investors

    Lower housing starts could be due to severe weather conditions in February.

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

    How the Decline in Steel Production Impacts Steel Companies

    Steel production up until April 4 is down 6.3% over the corresponding period last year. The decline in steel production is negative for steel companies in the US.

    By Mohit Oberoi, CFA
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