Core Viewpoint - Commercial Metals Company (CMC) is experiencing a stock price decline due to macroeconomic concerns, but market dynamics suggest a potential rebound as the year progresses [3]. Group 1: Stock Performance and Market Dynamics - CMC's stock price is currently down, nearing a six-month low, but is poised for a significant rebound [3]. - The critical support target for CMC's stock is $65, which aligns with a long-term exponential moving average [4]. - Institutional holders own 87% of CMC, providing a strong support base, with 11 consecutive quarters of stock accumulation [4]. Group 2: Institutional Activity and Short Selling - Despite increased institutional selling in Q1 2026, a larger increase in buying has resulted in a multiyear high for institutional ownership [5]. - Short interest in CMC is at nearly 4%, which is not prohibitively high and could fuel a rally driven by short-covering [5]. Group 3: Growth and Financial Performance - CMC is on track to grow and widen margins in 2026, supported by acquisitions and favorable market conditions [6]. - The company reported a 21.7% revenue growth in fiscal Q2 2026, reaching nearly $2.15 billion, exceeding analyst consensus by 290 basis points [7]. - The Construction Solutions Group (CSG) was the strongest segment, growing by 98% due to demand, pricing, and acquisitions [7].

Core Viewpoint - Hazer Group Ltd has signed a non-binding memorandum of understanding (MoU) and graphite offtake letter of intent (LOI) with Green Steel of WA, marking a significant step in commercializing its graphite by-product and linking its technology to a low-emissions steelmaking project in Western Australia [2][3]. Group 1: Agreement Details - The agreement represents Hazer's first formal framework for supplying graphite to the steel sector, positioning the company within the emerging green steel value chain [3]. - Under the proposed LOI, Hazer would supply up to 85,000 tonnes of graphite over 10 years, equivalent to 8,500 tonnes per annum, with deliveries expected to begin in 2030 [5]. - Pricing for the graphite is proposed to be linked to the landed price of anthracite at Bunbury, with a 5% discount, providing an initial commercial reference point [6]. Group 2: Project Development - The Collie Steel Mill, being developed by Green Steel of WA, is set to be Australia's first low-emissions steel mill and the first new domestic steelmaking facility in over 30 years, with construction targeted for late 2026 and initial operations expected in 2028 [4]. - The facility is designed to produce steel rebar using recycled scrap steel for both domestic and export markets [4]. Group 3: Strategic Collaboration - The MoU outlines a framework for broader collaboration, including project development, government engagement, and advancing Hazer's role in steel sector decarbonization [7]. - The arrangement is non-exclusive, with each party responsible for its own costs, and aims to progress the non-binding LOI toward a definitive agreement [7]. Group 4: Industry Context - The agreement positions Hazer within a challenging industrial decarbonization pathway, as steelmaking is a major global emissions source [8]. - Hazer's process produces hydrogen and high-purity graphite from natural gas, offering a potential lower-emissions substitute for traditional carbon inputs in electric arc furnace operations [8]. Group 5: Next Steps - The immediate focus for Hazer will be on further graphite testing and qualification, while also progressing the current non-binding terms into a binding offtake agreement [9]. - Hazer will continue to advance its future production capacity as Green Steel of WA progresses the development of the Collie Steel Mill [9].

Steel rebar futures advanced after China announced tough new capacity restrictions to cut emissions and tackle chronic oversupply in the world’s biggest market https://t.co/Kae3cPm9io ...