WisdomTree Continuous Commodity Index Fund

Morgan Stanley is bearish on the future prospects of iron ore prices. The broker estimates that the iron ore prices will fall to $40 per ton in 2H16 and $35 per ton in 4Q16.

Rio Tinto’s (RIO) Aluminum division contributed 19% of its 1H16 underlying EBITDA (or earnings before interest, tax, depreciation, and amortization).

Valuations Valuation multiples are key metrics that investors consider carefully. With the help of relative valuations, we can compare a company’s valuation with its closest peers’ valuations. There are several valuation metrics that we can use. For companies in cyclical industries such as steel and mining, the EV/EBITDA (enterprise value to earnings before interest, taxes, depreciation, and amortization) […]

Century Aluminum reported revenues of $326 million in 2Q16. The revenue miss shouldn’t be a major concern given its performance on other metrics.

Freeport-McMoRan (FCX) posted revenues of $3.3 billion in 2Q16. In contrast, Freeport posted revenues of nearly ~$4.2 billion in 2Q15.

Analysts have increased their short-term iron ore price forecasts due to stronger-than-expected temporary factors.

ArcelorMittal (MT) posted adjusted EBITDA of $927 million in 1Q16 and ~$1.4 million in 2Q15.

Analysts expect Freeport-McMoRan (FCX) to post revenues of ~$3.7 billion in 2Q16 and $4.4 billion in 3Q16.

One would expect U.S. Steel to increase its 2016 guidance during its 2Q16 earnings call. However, U.S. Steel might be conservative.

Alcoa expects its fiscal 2016 net income to rise by $160 million for every $100 per metric ton rise in aluminum prices.

Alcoa (AA) reported its 2Q16 earnings yesterday after the market closed. Here’s what you should know.

For companies in cyclical industries such as steel and mining, the EV-to-EBITDA multiple is the preferred valuation metric.

Cliffs Natural Resources (CLF) is trading at a forward EV/EBITDA multiple of 11.0x compared with its last five-year average of 8.0x.

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

AK Steel’s 1Q16 steel shipments declined by 5% as compared to the corresponding quarter last year. U.S. Steel’s 1Q16 flat-rolled steel shipments also fell.

Based on closing prices on April 18, Freeport is trading 32% above its 100-day moving average. Teck Resources (TCK) is trading 45% above its 100-day MA.

Energy prices have been a key driver of commodity prices over the last few quarters. They recovered from their January lows. Copper also piggybacked energy.

Valuation multiples are a key metric that smart investors consider. With the help of relative valuations, we can assess a company’s valuation with respect to its closest peers’ valuations.

The steel industry has seen a change in fortune over the last couple of months. The year started on a weak note, but prices have recovered.

Integrated operations have been one of the factors driving steel companies’ recent performances. Iron ore and coal mining fall under steel companies’ upstream operations.

On March 8, 2016, China’s February trade data spooked the global markets. Stock markets across the globe fell after China’s trade data released.