Latest news with #Steelmaking
Bloomberg
3 days ago
- Business
- Bloomberg
Iron Ore Gains on Optimism US-China Trade Truce Will Be Extended
Iron ore rebounded as news of a possible extension to the US-China trade truce eased some concerns about the impacts of tariffs on the global economy. The steelmaking material rose more than 2% to near $103 an ton, after tumbling more than 4% over the previous two sessions.
Yahoo
22-07-2025
- Business
- Yahoo
Cleveland-Cliffs Q2 Earnings and Revenues Beat Estimates
Cleveland-Cliffs Inc.'s CLF second-quarter 2025 adjusted loss was 50 cents per share. The figure was narrower than the Zacks Consensus Estimate of a loss of 68 cents. It had reported earnings of 11 cents in the prior-year fell 3.1% year over year to $4,934 million in the quarter. The top line beat the Zacks Consensus Estimate of $4,903.4 million. Cleveland-Cliffs Inc. Price, Consensus and EPS Surprise Cleveland-Cliffs Inc. price-consensus-eps-surprise-chart | Cleveland-Cliffs Inc. Quote Operational Highlights The company reported Steelmaking revenues of roughly $4.8 billion for the second quarter, down around 2% year over net selling price per net ton of steel products was $1,015 in the quarter, down around 9.8% year over year. It missed our estimate of $1,020. External sales volumes for steel products were roughly 4.3 million net tons, up around 7.5% year over year. It topped our estimate of 4.2 million net tons. Financial Position Cleveland-Cliffs ended the second quarter with cash and cash equivalents of $61 million, up around 5% from the prior quarter. Long-term debt increased 1.7% sequentially to $7,727 of June 30, 2025, the company had $2.7 billion in total liquidity. Outlook The company has revised its full-year 2025 guidance, reflecting updated expectations across certain key financial metrics. Capital expenditures are now projected to be approximately $600 million, down from the previously anticipated $625 million. Selling, general and administrative (SG&A) expenses have also been lowered to around $575 million from the earlier estimate of $600 million. CLF continues to target steel unit cost reductions of approximately $50 per net ton compared to 2024. Depreciation, depletion and amortization (DD&A) expenses have been revised upward to approximately $1.2 billion, primarily due to accelerated depreciation related to idled facilities. Meanwhile, cash pension and Other Post-Employment Benefits (OPEB) payments and contributions remain unchanged at approximately $150 million. Price Performance Shares of CLF are down 32.9% over the past year compared with a 23% decline of its industry. Image Source: Zacks Investment Research CLF's Zacks Rank & Key Picks CLF currently carries a Zacks Rank #3 (Hold).Better-ranked stocks worth a look in the basic materials space include Royal Gold, Inc. RGLD, Kinross Gold Corporation KGC and Agnico Eagle Mines Gold is slated to report second-quarter results on Aug 6. The Zacks Consensus Estimate for earnings is pegged at $1.70. RGLD beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 9%. RGLD carries a Zacks Rank #1 (Strong Buy). You can see the complete list of today's Zacks #1 Rank stocks is scheduled to report second-quarter results on July 30. The Zacks Consensus Estimate for KGC's second-quarter earnings is pegged at 27 cents. KGC beat the Zacks Consensus Estimate in three of the last four quarters, with the average earnings surprise being 16.1%. KGC currently carries a Zacks Rank # Eagle is slated to report second-quarter results on July 30. The consensus estimate for AEM's earnings is pegged at $1.66. AEM, carrying a Zacks Rank #1, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 12.3%. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Cleveland-Cliffs Inc. (CLF) : Free Stock Analysis Report Kinross Gold Corporation (KGC) : Free Stock Analysis Report Agnico Eagle Mines Limited (AEM) : Free Stock Analysis Report Royal Gold, Inc. (RGLD) : Free Stock Analysis Report This article originally published on Zacks Investment Research ( Zacks Investment Research
Times
14-06-2025
- Automotive
- Times
Inside the weapons factory putting Britain on a war footing
G rey metal sheds are the future. At least, they are in Sheffield, a proud steelmaking city that wants to be a home for modern industry. Drive along its northeastern reaches, within a stone's throw of the Meadowhall shopping centre, and you'll find box after grey box. There's the ITM Power electrolyser factory. Further down the road, there's a huge slab-like distribution centre, which dispatches PrettyLittleThing dresses to all corners of the country. In between the two, another metal box plays host to Britain's newest gun factory. Last week BAE Systems cut the ribbon on a 94,000 sq ft site bringing manufacturing of M777 howitzers back to the UK. These 4.2 tonne weapons, developed by BAE in the 1990s, fire 155mm shells at a range of 25km. They are now the field gun of choice for US, Canadian, Australian and Indian forces.
Bloomberg
10-06-2025
- Business
- Bloomberg
Iron Ore Edges Lower With Traders' Hopes Pinned on Trade Talks
Iron ore declined for a second day, as traders watched for any progress from US-China trade talks and potential stimulus from Beijing that could reignite buying interest in the steelmaking material. Futures in Singapore fell to as low as $94 a ton. Talks between the US and China will continue into a second day in London as the two countries seek to address trade imbalances and deescalate from an all-out trade war that's raised concerns about global economic growth.
