After ArcelorMittal donated steel to Trump's ballroom, adjustments were made to tariff policy that could benefit the company. Stephanie Ruhle again asks if this White House is for sale? MS NOW: My Source for News, Opinion, and the World. » Subscribe to MS NOW: https://www.youtube.com/@msnow » Subscribe to MS NOW’s We the People Newsletter for exclusive content from your favorite MS NOW anchors. Sign up now for free at https://ms.now/joinus MS NOW is the go-to destination for domestic and international break ...

China’s electric-arc furnace steelmakers boosted weekly capacity utilization to the highest in more than two years, as the greener production method becomes more competitive https://t.co/VrPMdVsRgG ...

Tokyo Steel’s stock surged as much as 21% after activist fund Oasis disclosed a stake in the Japanese firm and said it may make proposals https://t.co/BMgBmEaQij ...

Exclusive: The Trump administration said it would reshape its tariffs on steel, aluminum and copper products to help simplify compliance. The net effect of the changes could effectively raise costs for many imports. https://t.co/ov7y5iXcHb ...

The Trump administration said it will maintain 50% tariffs on many imported steel, aluminum and copper products https://t.co/BqGAeKk9xW ...

Iran's two largest steel plants shut down due to strikes, companies say https://t.co/1R7xQV2vGj ...

RT Arash Reisinezhad (@arashreisi)In the 1960s, under the Shah, the United States declined to help Iran build a steel industry, preferring it remain a supplier of raw materials rather than an industrial power. Iran turned the Soviet Union instead and built it anyway.Yesterday, the Mobarakeh Steel Complex, the largest industrial unit in Iran and the largest steel producer in the Middle East, in Isfahan was struck by the U.S. and Israel. What was once denied as development is now treated as a threat. Once bui ...

US to Set 25% Tariff on Finished Steel, Aluminum Goods, WSJ Says https://t.co/UaVzlb49Gp ...

Core Viewpoint - Algoma Steel Group Inc. is undergoing a significant transformation with the completion of its transition to Electric Arc Furnace (EAF) steelmaking, which is expected to enhance operational efficiency and reduce carbon emissions by approximately 70% [3][6]. Financial Performance - Total steel shipments for the quarter ended March 31, 2026, are projected to be around 220,000 tons [2]. - Adjusted EBITDA is anticipated to be in the range of negative $25 million to negative $35 million, factoring in a capacity utilization adjustment of approximately $90 million to $95 million [2]. Strategic Transition - The company has completed the wind-down of its blast furnace and coke oven operations, marking a pivotal moment in its transformation to EAF steelmaking, supported by nearly $1 billion in investments [3]. - The EAF is operational around the clock, producing Volta™, a sustainable low-carbon steel brand, aimed at meeting the Canadian market's needs [3][7]. Market Positioning - As Canada's sole producer of discrete plate, Algoma is strategically positioned to cater to increasing demand in sectors such as infrastructure, construction, and defense [3]. - The transition to EAF steelmaking aligns with the company's commitment to sustainability and is expected to provide stability for ongoing investments in diversification projects [6]. Product Development - Volta™ represents Algoma's new brand for steel produced through EAF technology, emphasizing lower emissions while maintaining performance standards [7].

Core Viewpoint - The iShares MSCI Global Metals & Mining Producers ETF (PICK) is expected to benefit from increasing sovereign demand for critical minerals as governments worldwide build strategic reserves, enhancing the earnings visibility of mining companies and reducing cyclical risks [2][3][4]. Group 1: ETF Performance and Holdings - PICK delivered a 55.82% return over the past 12 months and has a diversified portfolio of 236 mining companies globally, with top holdings including BHP Group (11.89%), Rio Tinto (6.84%), and Freeport-McMoRan (5.60%) [2][5]. - The fund achieved a 50.72% NAV return in 2025 and is up 8.34% year-to-date in 2026, despite a sharp pullback in March [6]. - The sector breakdown of the fund shows a heavy lean towards Diversified Metals & Mining (48.07%), Steel (27.60%), and Copper (14.00%) [5]. Group 2: Government Demand and Strategic Reserves - Governments are increasingly treating metals and minerals as strategic assets, creating a structural demand floor that enhances the earnings visibility of mining companies [4]. - The U.S. has initiated a $12 billion Project Vault for strategic mineral reserves, while Australia has announced an $800 million stockpiling strategy focusing on antimony, gallium, and rare earth elements [8]. - The European Union and South Korea are also advancing their own mineral strategies, indicating a global trend towards government-backed mineral stockpiling [8]. Group 3: Market Dynamics and Future Outlook - The acceleration of sovereign demand for critical minerals is expected to be a key macro factor driving the ETF's performance over the next 12 months [7]. - Companies like BHP, Rio Tinto, and Freeport-McMoRan, which represent approximately 25.3% of the fund's portfolio, are likely to benefit from a more predictable demand base due to government stockpiling [10]. - The fund's low expense ratio of 39 basis points and stable portfolio turnover of 0.1 suggest a long-term investment strategy, although it may not quickly pivot towards emerging beneficiaries of the minerals stockpiling trend [13].