Companhia Siderurgica Nacional

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  • uploads///consumer confidence
    Macroeconomic Analysis

    US Consumer Confidence Index Holds Steady

    The consumer confidence index reached an 11-year high of 98.1 in January. The index stood at 93 in the latest reading in March.

    By Mohit Oberoi, CFA
  • uploads///Brazil Commodity Indexes Steadily On Rise
    Company & Industry Overviews

    Will Rising Commodity Prices Help Brazil Recover?

    Brazil (EWZ) is expected to see a reversal of the downward trend in its economic growth in 2017, mostly with the help of rising commodity prices and improvements in exports.

    By Mary Sadler
  • uploads///Brazilian Reals to One US Dollar
    Company & Industry Overviews

    Brazilian Financial Markets in the Aftermath of the 55–22 Vote

    If any proof were required that equities run on emotion, Brazilian markets have provided it. This isn’t to say there aren’t quality companies in the market.

    By David Ashworth
  • uploads///Change in Brazils IPCA Consumer Price Index
    Macroeconomic Analysis

    Inflation in Brazil Has Slowed, but the Battle Is Far from Over

    Brazil finds itself in a phenomenon known as stagflation, characterized by slowing economic growth, rising inflation, and high unemployment.

    By David Ashworth
  • uploads///brazilian equity vs real
    Macroeconomic Analysis

    How Correlated Are Brazilian Equities to Its Currency?

    The Brazilian economy depends on commodity movement. The equity market is an important leading indicator of the country’s economy.

    By Sarah Sands
  • uploads///brazil is cheap pe
    Company & Industry Overviews

    If Now Is the Time to Invest in Brazil, Here’s Why

    Markets expect Brazil to bottom out soon. The recent trend reversal in emerging markets could be a sign that a reversal in Brazil’s fortune is close.

    By Surbhi Jain
  • uploads///stagflation in Brazil
    Macroeconomic Analysis

    An Analysis of Brazil’s Plan to Alter Its Growth Model

    Inflation in Brazil continues to soar. It’s at 10.4% despite the central bank’s several attempts at interest rate hikes.

    By Surbhi Jain
  • uploads///steel inventory
    Company & Industry Overviews

    What Factors Derailed the Steel Industry’s Expected 2H15 Recovery?

    The steel industry was banking on a possible 2H15 recovery. However, the operating environment has become even more challenging.

    By Mohit Oberoi, CFA
  • uploads///Brazil Sep
    Macroeconomic Analysis

    Brazil Keeps Rates Unchanged as Real Continues Free Fall

    The Brazilian real gained against the US dollar on September 3, 2015, after the Central Bank of Brazil announced the previous day that it will keep interest rates on hold.

    By David Meyer
  • uploads///Brazil GDP Q
    Macroeconomic Analysis

    Brazilian Real Is Trading near 12-Year Lows

    The Brazilian real fell by 0.88% against the US dollar on August 28, 2015. GDP data for the second quarter confirmed a contraction in the economy.

    By David Meyer
  • uploads///steel prices
    Macroeconomic Analysis

    Investor Update: Where Are US Steel Prices Headed in 2015?

    Spot steel prices have inched up a bit after hitting their low in May. If the US steel demand stays strong and imports decline further, as they did in May, spot steel prices could see further upward movement.

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

    May Housing Starts Rise Year-over-Year but Dip 11% in April

    Housing starts are a leading indicator of residential construction activity. Housing starts in May increased 4.6% on a year-over-year basis. However, compared to April, they dipped 11.1%.

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

    Steel Scrap Prices Moved Sideways in April

    Steel scrap prices tanked by more than 25% in February. This helped mini mills. They were at a competitive disadvantage due to the decline in iron ore and coal prices.

    By Mohit Oberoi, CFA
  • uploads///latest real estate indicator land purchase
    Macroeconomic Analysis

    Latest Chinese Real Estate Demand Indicators Reflect Slowdown

    Clearly, Chinese real estate demand indicators are weakening. This is a negative sign for steel companies like Mechel (MTL) and Companhia Siderurgica Nacional (SID).

    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///part
    Macroeconomic Analysis

    An Overview of the Global Steel Industry in April

    The global steel industry (XME) has seen its fortune change ever since OPEC decided against reducing its daily oil production.

    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
  • uploads///steel prices
    Macroeconomic Analysis

    Are Steel Prices Consolidating at Current Levels?

    Steel prices are a key driver for steel companies. Last year, steel prices dropped by ~10%.

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

    U.S. Steel Brings Steel Industry Woes to Congresspeople

    A massive increase in steel imports has been the single biggest risk for the US steel industry. U.S. Steel faces challenges in its tubular segment also.

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

    Global Steel Production Increased 0.6% in February

    A low capacity utilization rate increases competition between existing industry players. This pressures steel prices as producers try to increase sales.

    By Mohit Oberoi, CFA
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