Takahiro Mori Photographer: Toru Hanai/Bloomberg Japan’s largest steel producer will shortlist two or three states for construction of a major new plant in the US and make a final decision on its location in early 2027. Nippon Steel Corp. is seeking a site capable of supporting a steel plant with 3 million tons of annual capacity, Vice Chairman Takahiro Mori said in an interview. The plant, to be run by the company’s United States Steel Corp. subsidiary, will also need stable power supply at a competitiv ...

Momentum investors typically don't time the market or "buy low and sell high." In other words, they avoid betting on cheap stocks and waiting long for them to recover. Instead, they believe that "buying high and selling higher" is the way to make far more money in lesser time.Everyone likes betting on fast-moving trending stocks, but it isn't easy to determine the right entry point. These stocks often lose momentum when their future growth potential fails to justify their swelled-up valuation. In that phase ...

German steel producer Thyssenkrupp said on Monday it would cut or outsource about 11,000 jobs and reduce steel production capacity to a shipping level of 8.7 to 9 million metric tonnes. ...

Summary of Key Points from the Conference Call Industry Overview - The report focuses on the **China Economic Activity** and various high-frequency indicators related to consumption, production, investment, and macroeconomic activity [1][2][11]. Key Insights and Arguments 1. Consumption and Mobility - **Primary Market Transactions**: The daily property transaction volume in the primary market across 30 cities has increased over the last two weeks but remains below last year's levels [2][6]. - **Secondary Market Transactions**: The daily property transaction volume in the secondary market for 16 cities continues to be below last year's levels [6][7]. - **Traffic Congestion**: Traffic congestion levels are reported to be lower than last year's figures, indicating reduced mobility [7][9]. 2. Production and Investment - **Steel Demand**: Steel demand has remained stable and is largely in line with last year's levels, suggesting consistent industrial activity [13][14]. - **Steel Production**: Steel production has increased over the last two weeks but is slightly below last year's levels, indicating a potential slowdown in growth [15][17]. - **Local Government Bonds**: A total of **RMB 4.4 trillion** in local government special bonds have been issued out of a full-year quota of **RMB 4.6 trillion** for 2025, representing **94.3%** of the annual quota [19][21]. - **Coal Consumption**: Daily coal consumption in coastal provinces is reported to be in line with last year's levels, reflecting stable energy demand [23]. 3. Other Macro Activity - **Port Activity**: Official port container throughput has increased over the last two weeks and remains above year-ago levels, indicating robust trade activity [33][35]. - **Export Trends**: Chinese export volume of rare earth magnets to the US increased in October, while exports to Europe declined, highlighting shifting trade dynamics [37][39]. - **Freight Volume**: Freight volume of departing ships at 20 major ports has edged down and is below last year's levels, suggesting potential challenges in logistics [40]. 4. Markets and Policy - **Interbank Repo Rates**: Interbank repo rates have remained largely stable over the last two weeks, indicating a steady liquidity environment [43][44]. - **Oil Demand**: The nowcast indicates that China's oil demand has declined to **17.9 million barrels per day (mb/d)** in the latest reading, reflecting a decrease in energy consumption [45][46]. - **Currency Trends**: The Chinese Yuan (CNY) has appreciated against both the CFETS basket and the USD in recent weeks, indicating strengthening currency dynamics [49][50]. 5. Policy Announcements - A series of macro policy announcements have been made since mid-August, focusing on promoting consumption, investment, and growth, including: - Measures to promote consumption and expand the supply of consumer goods [50]. - Initiatives to support private investment and strategic projects [50]. - Suspension of retaliatory tariffs on US agricultural products [50]. Additional Important Information - The report highlights a shift in data sources for traffic congestion from Gaode map to Baidu map, which may affect future comparisons [9]. - The increased share of local government bond proceeds spent in "Others" may include repayments for corporate arrears and delayed salaries to civil servants, indicating potential fiscal pressures [25][26]. This summary encapsulates the critical insights and data points from the conference call, providing a comprehensive overview of the current economic landscape in China.

Key TakeawaysJapan's Takaichi cabinet has achieved a strong 75% approval rating in a Nikkei poll, reflecting significant public support and political stability.An explosion occurred at Nippon Steel's (NPSCY) Muroran plant, though no injuries were reported, mitigating immediate human impact.Australia's S&P Global Manufacturing PMI held steady at 51.6 in November, indicating continued expansion in the manufacturing sector.US President Trump confirmed he has chosen his pick for the next Federal Reserve Chair a ...

PresentationDavid FalluChief Financial Officer All right. Good morning, everyone, and welcome to Glenbrook. It's the heart of steelmaking and coated Steel in New Zealand. On behalf of the team, my name is David Fallu, I'm the Group CFO. I just want to welcome you to site. And for those joining on the webcast, really appreciate your interest. So we'll be holding a session split across 2 pieces today: one, covering New Zealand property and sustainability. And then after a break, we'll have an opportunity to w ...

Core Viewpoint - Commercial Metals (CMC) shows a significant improvement in earnings outlook, making it an attractive investment option as analysts continue to raise earnings estimates for the company [1][2]. Earnings Estimates - Analysts' optimism regarding the earnings prospects of Commercial Metals is leading to higher estimates, which is expected to positively impact the stock price [2]. - The current quarter's earnings estimate is $1.41 per share, reflecting an increase of +80.8% year-over-year, with a 5.41% rise in the Zacks Consensus Estimate over the last 30 days [6]. - For the full year, the expected earnings are $5.87 per share, indicating a year-over-year change of +87.5%, with two estimates moving up recently and no negative revisions [7]. Zacks Rank - The favorable estimate revisions have resulted in Commercial Metals achieving a Zacks Rank 1 (Strong Buy), which is associated with significant outperformance compared to the S&P 500 [8]. - The Zacks Rank system has a strong track record, with Zacks 1 Ranked stocks averaging an annual return of +25% since 2008 [3]. Stock Performance - Commercial Metals shares have increased by 6.6% over the past four weeks, indicating investor confidence in the company's earnings growth prospects [9].

BlueScope Overview - BlueScope aims for an annual EBIT uplift of approximately $500 million by 2030 through growth initiatives and investments[16] - BlueScope has returned over $3.8 billion in dividends and buy-backs since FY2017[16] - BlueScope is positioning its 1,250ha property portfolio for strategic value realization[22] - BlueScope expects $179 million net proceeds after taxes and fees from sale of 50% stake in Tata BlueScope Steel (TBSL)[20] New Zealand and Pacific Islands (NZPI) Segment - The EAF project is expected to reduce NZ Steel's Scope 1 and 2 greenhouse gas emissions by up to one million tonnes, or approximately 55%[38] - The EAF project would have indicatively improved FY2025 EBIT by approximately $80 million if operational[39] - Construction segment accounts for approximately 70% of NZPI's end-use segments[49] - COLORSTEEL sales volume has grown at a CAGR of 5% indexed at FY2016[63] Climate and Sustainability - BlueScope has a 12% intensity reduction target for steelmaking GHG emissions since FY2018[179] - BlueScope has a 30% intensity reduction target for non-steelmaking GHG emissions since FY2018[179] - BlueScope estimates projects are estimated to take steelmaking emissions intensity below 1.3 tCO2-e per tonne by 2030[184] - BlueScope has completed 192 team-based HSE risk control improvement projects in FY2025[147]

Core Viewpoint - The recent proclamation by U.S. President Donald Trump provides a two-year reprieve for coke oven facilities from stringent EPA rules, which is expected to stimulate growth in the U.S. steel supply chain and improve earnings for steel producers and coke-exposed miners [1][2]. Industry Impact - The easing of compliance pressure on metallurgical coke producers and related iron ore assets is anticipated to act as a significant growth catalyst for the U.S. steel supply chain [2]. - The proclamation is likely to reduce regulatory-driven shutdown risks for U.S. integrated steelmakers and metallurgical coke producers, providing a clearer investment landscape for ETFs focused on these sectors [3]. Trade and Tariff Context - The U.S. remains heavily reliant on steel imports, with nearly 25% of its steel supply coming from abroad, primarily from Mexico, Canada, and key allies in Asia and Europe [4]. - A 25% tariff on steel imports was previously imposed to bolster domestic production, but this has led to trade conflicts, particularly with China, resulting in a significant reduction in Chinese steel exports to the U.S. [5]. - Recent data indicates a 16.8% month-over-month decline in U.S. steel imports as of August 2025, attributed to the doubling of the Section 232 tariff from 25% to 50% [6]. Domestic Production and Costs - Trade tensions and tariffs have increased input costs for U.S. manufacturers, with domestic steel prices nearly double the global benchmark, putting pressure on downstream margins [7]. - The latest proclamation suggests that the U.S. administration is prioritizing industrial output stability, treating coke ovens and related facilities as national security infrastructure [8]. ETF Opportunities - The current environment is expected to enhance pricing power and volume predictability for companies in the steel and metallurgical coal sectors, benefiting ETFs that include U.S. steel producers and coke-linked mining companies [10]. - Notable ETFs include: - **State Street SPDR S&P Metals & Mining ETF (XME)**: AUM of $2.56 billion, up 38.6% year to date, with top holdings including Nucor Corp and Steel Dynamics [11][12][13]. - **VanEck Steel ETF (SLX)**: Net assets of $125.6 million, up 38.4% year to date, with major holdings in iron ore suppliers [14]. - **iShares U.S. Basic Materials ETF (IYM)**: Net assets of $125.6 million, up 15.8% year to date, featuring significant investments in Nucor and Steel Dynamics [15].

Core Insights - The "2025 World Mayors Dialogue: Nanjing" focused on urban development through water management and resulted in the release of the "Nanjing Consensus on Major River Cities Development" [1][5] Group 1: Event Overview - The event took place from November 19 to 21, 2025, hosted by the Nanjing Municipal People's Government, with participation from mayors and representatives from various countries [1] - Nanjing showcased its urban development achievements through on-site visits, highlighting its "micro-renovation" model and ecological conservation efforts along the Yangtze River [3] Group 2: Key Discussions - Discussions included urban governance, development trends, and global challenges, with notable contributions from international representatives emphasizing cooperation under the Belt and Road initiative [4] - The thematic dialogue led by Nanjing Vice Mayor Sun Baijun culminated in the release of the "Nanjing Consensus," which promotes the localization of the UN 2030 Sustainable Development Goals and advocates for green development models [5] Group 3: Future Implications - The conclusion of the dialogue marks a continued global pursuit of sustainable urban development, with Nanjing committing to contribute to collaborative city development worldwide [6]