PALM BEACH, Florida, May 3, 2017 /PRNewswire/ --
Metal iron ore prices appear to have stabilized recently, but if futures markets are anything to go by, prices could rise again. Iron ore futures are showing gains again, up by 4.6% and climbing. Natural Resources / Industrial Commodities Companies with performances and developments in the market include: Cliffs Natural Resources Inc. (NYSE: CLF), CD International Enterprises, Inc. (OTC: CDII), ArcelorMittal (NYSE: MT), Steel Dynamics, Inc. (NASDAQ: STLD), AK Steel Holding Corporation (NYSE: AKS).
CD International Enterprises, Inc. (OTC: CDII), a U.S.-based company that sources industrial commodities and provides business and management corporate consulting services, today announced that CD International has entered into a letter of intent with a Honduras-based company to purchase iron ore (62% to 63% Fe). Per the letter of intent, CD International agrees to purchase 100,000 metric tons of iron ore (62% to 63% Fe) per month over a period of 12 months. The total shipment over a period of 12 months will be 1.2 million metric tons of iron ore. The monthly supply can be increased to 500,000 metric tons per month or 6 million metric tons of iron ore per year. The initial 12 months contract of 1.2 million metric tons of iron ore values approximately $84 million on basis of the current CIF China price. Read this and more news for CDII at: http://marketnewsupdates.com/news/cdii.html
According to Chinese customs data, China's imports of iron ore rose 7.5 percent to a record 1.024 billion tons in 2016. The total topped the 2015 record of 952.84 million tons. China's 2017 March iron ore imports rose 11 percent from the same month a year earlier to the second-highest monthly amount on record, as the world's second-biggest economy ramped up a drive for cheap overseas supply as the cost of domestic output grew. Imports in March were 95.56 million tons, according to data from the General Administration of Customs. For the first quarter of 2017, imports grew 12 percent to 271 million tons. That is a quarterly record. This rise was the result of two factors: resilient steel demand in China (partly driven by government stimulus measures) and the replacement of Chinese domestic iron ore production by the import of cheaper high-grade ore imports, mainly from Australia and Brazil.
Dr. James Wang, Chairman and CEO of CD International commented on the letter of intent, "We are pleased to enter this letter of intent, as we have been proactively sourcing iron ore supply for our Chinese clients. This newly sourced supply could provide us a stable supply of iron ore for our clients in China. Under our new mineral trading model, we believe we can create a profit center while we limit exposure of our capital to market risk. Imported iron ore to China will continue at the levels we are seeing now, or perhaps even grow as we go forward. We actively pursue new mineral suppliers for our clients in China, in both South and North America. As we move forward, we believe we are well positioned to take advantage of increasing demand of iron ore by China in years to come."
Additional Leading Metal/Steel/Ore Mining and Natural Resources Companies in the markets:
ArcelorMittal (NYSE: MT) closed up slightly on Tuesday at $7.90 trading over 11.6 Million shares by the market close. ArcelorMittal produces mining products, including iron ore lumps, fines, concentrates, pellets, and sinter feeds, as well as coking, pulverized coal injection, and thermal coal. It has iron ore mining activities in Brazil, Bosnia, Canada, Kazakhstan, Liberia, Mexico, Ukraine, and the United States; and coal mining activities in Kazakhstan and the United States.
Cliffs Natural Resources Inc. (NYSE: CLF) also closed up slightly on Tuesday at $6.63 trading over 14.8 Million shares by the market close. Cliffs Natural Resources is a leading mining and natural resources company. Founded in 1847, Cliffs Natural Resources Inc. is recognized as the largest and oldest independent iron ore mining company in the United States. The Company is a major supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota. Cliffs also operates an iron ore mining complex in Western Australia.
Steel Dynamics, Inc. (NASDAQ: STLD) closed up on Tuesday at $36.98 trading over 2.8 Million shares by the market close. Steel Dynamics, is one of the largest domestic steel producers and metals recyclers in the United States, based on estimated annual steelmaking and metals recycling capability, with facilities located throughout the United States, and in Mexico. Steel Dynamics produces steel products, including hot roll, cold roll, and coated sheet steel, structural steel beams and shapes, rail, engineered special-bar-quality steel, cold finished steel, merchant bar products, specialty steel sections and steel joists and deck.
AK Steel Holding Corporation (NYSE: AKS) also closed up slightly on Tuesday at $6.24 trading over 15.9 Million shares by the market close. AK Steel is a leading producer of flat-rolled carbon, stainless and electrical steel products, and carbon and stainless tubular products, primarily for automotive, infrastructure and manufacturing, electrical power generation and distribution markets.
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