Commercial Metals (CMC) is expected to deliver a year-over-year increase in earnings on higher revenues when it reports results for the quarter ended August 2025. This widely-known consensus outlook gives a good sense of the company's earnings picture, but how the actual results compare to these estimates is a powerful factor that could impact its near-term stock price.The stock might move higher if these key numbers top expectations in the upcoming earnings report, which is expected to be released on Octob ...

Financial Performance & Targets - voestalpine Group's revenue target for 2024/25 is €157 billion[4] - The group aims for an EBITDA of €13 billion by 2024/25[4] - The group aims for an EBIT of €455 million by 2024/25[4] - The company targets a payout ratio of 30% of earnings per share (EPS) with a minimum dividend of EUR 040 per share[41] Strategic Focus & Growth - The company focuses on differentiation in metals production and growth in processing[20] - The company aims to expand its product range with existing customers and globalize successful businesses[25] - The company is committed to maintaining a solid credit profile with an implied BBB rating[46] Decarbonization Strategy - The company aims to have 65% of its business decarbonized by 2027, transitioning from 5 blast furnaces to 3 blast furnaces and 2 EAFs[27] - The company plans to reach 80% decarbonization by 2030-2035 with 1 blast furnace and 4 EAFs[27] - The company targets 100% decarbonization by 2035-2050 using 4 EAFs, 1 EAF/Smelter, and breakthrough technologies[27] Divisional Performance (BY 2024/25) - Steel Division revenue is €57991 million with an EBITDA of €7438 million and an EBITDA margin of 128%[94] - High Performance Metals Division revenue is €31822 million with an EBITDA of €830 million and an EBITDA margin of 26%[133] - Metal Engineering Division revenue is €41679 million with an EBITDA of €4611 million and an EBITDA margin of 111%[168] - Metal Forming Division revenue is €31251 million with an EBITDA of €1693 million and an EBITDA margin of 54%[200]

But Russia's nominal GDP is now $2.2 trillion, about the same level it was in 2013, the year before Russia annexed Crimea.During Putin's first two terms as president from 2000 to 2008, Russia's economy soared to $1.7 trillion from less than $200 billion in 1999.Russia's Center for Macroeconomic Analysis and Short-term Forecasting - an influential research non-profit - said sectors of the economy not connected with the military had contracted by 5.4% since the start of the year. The Center forecasts a major ...

Stock markets rebounded on Thursday with the benchmark Sensex climbing 398 points following buying in IT firms and blue-chip Reliance Industries amid foreign fund inflows.Photograph: Shailesh Andrade/ReutersThe 30-share BSE Sensex climbed 398.44 points or 0.49 per cent to settle at 82,172.10.During the day, it jumped 474.07 points or 0.57 per cent to 82,247.73.The 50-share NSE Nifty jumped by 135.65 points or 0.54 per cent to 25,181.80. IT shares such as HCL Tech, TCS, Infosys, and Tech Mahindra gained ahea ...

A股三大指数今日集体上涨，截至收盘，上证指数涨1.32%，深证成指涨1.47%，创业板指涨0.73%，北 证50跌0.18%。沪深京三市全天成交额26718亿元，较上日放量4746亿元。全市场超3100只个股上涨。 板块题材上，贵金属、可控核聚变、稀土永磁、能源金属、风电设备、钢铁、存储芯片板块涨幅居前； 影视院线、旅游及酒店、白酒、免税店板块跌幅居前。盘面上，受国际金价大涨影响，有色金属、贵金 属板块集体爆发，兴业银锡、云南铜业、山东黄金、四川黄金、招金黄金等10余股涨停。可控核聚变板 块集体走强，西部超导、国光电气、哈焊华通等股20cm封板，海陆重工、中国核建、旭光电子等10余 股涨停。稀土永磁板块午后震荡拉升，北方稀土、中国稀土、中国瑞林涨停。此外，存储芯片、风电设 备、钢铁等板块盘中均有所表现。另一方面，影视院线板块多股大跌，博纳影业、横店影视、中国电影 盘中跌停。旅游及酒店板块同样表现不佳，凯撒旅业、天府文旅、西域旅游跌幅居前。 ...

Ah, the financial markets. A bastion of logic, predictability, and sober analysis, right? Not when Donald J. Trump is in the room, or more accurately, on Truth Social. The past few days, weeks, and indeed, the entirety of 2025, have served as a masterclass in how a single individual can render traditional economic models about as useful as a chocolate teapot. From brokering “everlasting peace” in the Middle East to unleashing a fresh barrage of tariffs, the former (and potentially future) President continue ...

Summary of Key Points from the Conference Call Industry Overview - The conference call focused on the **Greater China Materials** industry, highlighting a **liquidity-driven bull market** supported by **supply disruptions** that are positively impacting commodity prices. The preference is for **gold, copper, and aluminum equities** in this environment [1][4][10]. Core Insights and Arguments - **Commodity Price Forecasts**: - **Aluminum**: Morgan Stanley forecasts $2,659 per ton for 2H2025, which is 6% higher than consensus. For CY2026, the forecast is $2,750, 8% above consensus [10]. - **Copper**: Expected price of $10,047 per ton for 2H2025, 5% above consensus, and $10,650 for CY2026, 9% above consensus [10]. - **Gold**: Projected at $3,719 per ounce for 2H2025, 9% above consensus, and $4,400 for CY2026, 34% above consensus [10]. - **Steel Demand Drivers**: - The **China Steel Demand Drivers** for 2025 include: - **Machinery**: 30% - **Infrastructure**: 17% - **Residential Property**: 14% - **Auto**: 9% [17][19]. - **Copper Consumption Index**: The **China Copper Consumption Index** indicates a significant reliance on sectors such as **Power (47%)**, **White Goods (15%)**, and **Auto (10%)** [21][22]. - **Aluminum Demand Breakdown**: The **China aluminum demand** is driven by: - **Property**: 22% - **Passenger Vehicles**: 20% - **Grid Investment**: 11% [27]. Additional Important Insights - **Infrastructure Spending**: - Infrastructure spending has partially offset the slowdown in new property starts, with a **5.4% YoY increase** in infrastructure spending for the first eight months of 2025 [35][55]. - **Weekly Shipments**: - Weekly cement and rebar shipments in China are being monitored, indicating trends in demand and supply dynamics [55][56]. - **Market Sentiment**: - The overall sentiment in the materials sector remains **attractive**, with Morgan Stanley's research indicating potential conflicts of interest due to business relationships with covered companies [4][5]. - **Analyst Team**: The call featured insights from a team of equity analysts at Morgan Stanley, emphasizing the importance of their research in investment decision-making [3]. This summary encapsulates the key points discussed in the conference call, providing a comprehensive overview of the Greater China Materials industry and its current market dynamics.

Summary of Conference Call Notes Industry Overview - **Industry**: Greater China Materials - **Market Condition**: A liquidity-driven bull market is ongoing, supported by supply disruptions, which is positively impacting commodity prices [1][2][17] Key Insights Commodity Preferences - **Preferred Commodities**: Gold, copper, and aluminum equities are favored in the current market environment due to their strong performance and demand [1][2][17] - **Gold Outlook**: Anticipated further upside in gold prices driven by a weakening USD, strong ETF buying, and central bank purchases, alongside safe haven demand amid uncertainty [2][18] - **Copper Supply Dynamics**: Supply disruptions are expected to widen the global copper supply deficit in 2026, with a supportive macro environment of abundant liquidity and a weak dollar [19] - **Aluminum Margins**: Higher margins for aluminum smelters are projected due to capped capacity in China and limited ability to restart idled capacity in the US/Europe [20] Demand and Supply Trends - **Retail Demand**: Retail growth in autos and home appliances has weakened, attributed to a high base and early demand from trade-in subsidies [3] - **Construction Activity**: Property sales and construction remain subdued, with expectations for a major policy pivot requiring endorsement at the 4th Plenary Session [3] - **Anti-involution Policies**: Industries such as coal, cement, glass, and steel are facing production controls to curb overproduction, with specific guidelines issued to stabilize prices [4][21] Specific Sector Insights - **Cement Industry**: Policies to control overproduction are expected to lead to a 20% capacity exit during 2025-26, benefiting industry leaders through consolidation [21] - **Late-cycle Building Materials**: Demand for late-cycle building materials is expected to remain soft, although improvements may arise from secondary home sales and government programs [22] - **Lithium Demand**: Strong demand for lithium is noted, with potential supply disruptions due to resource reclassification at several mines [23] Price Forecasts - **Commodity Price Projections**: - **Gold**: Expected to rise to $4,400/oz by 2026, a 33% increase from current estimates [15] - **Copper**: Projected to reach $10,650/ton by 2026, reflecting a 9% increase [16] - **Aluminum**: Anticipated price of $2,750/ton by 2026, an 8% increase [16] Investment Recommendations - **Overweight Stocks**: CMOC, Hongqiao, Chalco, Anhui Conch, CNBM, and Baosteel are highlighted as preferred investment choices in the materials sector [2][17] - **Underweight Stocks**: Companies such as China Coal, Asia Cement, and Yancoal are recommended for underweight positions due to unfavorable market conditions [14] Additional Considerations - **Uranium Market**: Strong price momentum is expected in uranium, supported by major investment vehicles and contracting from utilities [24] - **Rare Earths**: Prices are anticipated to remain strong due to good downstream demand and tightened supply-side controls in China [25] This summary encapsulates the key points from the conference call, providing insights into the current state and future outlook of the Greater China materials industry.

Key Points The steel maker is tapping investors for more capital. It's floating its latest issue of senior notes. 10 stocks we like better than Cleveland-Cliffs › Market players are eager to lend Cleveland-Cliffs (NYSE: CLF) money, so much so that a planned debt issue was quickly and substantially upsized. That impressed the market enough to send the company's equity skyward, and in late-session action the large steel maker's stock was up by 9% in price. That performance was notably hotter than tha ...

The World Trade Organization on Tuesday slashed its 2026 forecast for global merchandise trade volume growth to 0.5% from 1.8%, citing the anticipated lagged effects of U.S. President Donald Trump’s tariffs. “The outlook for next year is bleaker...I am very concerned,” Director-General Ngozi Okonjo-Iweala told reporters in Geneva.U.S. rate futures have priced in a 94.6% chance of a 25 basis point rate cut and a 5.4% chance of no rate change at the October FOMC meeting.Fed Governor Stephen Miran reiterated o ...