Chinese Steel Macro Update
Herewith a quick rundown on Chinese Leading Indicators, PMI’s, and Steel Production. Plus metallurgical coal and iron ore implications.
Herewith a quick rundown on Chinese Leading Indicators, PMI’s, and Steel Production. Plus metallurgical coal and iron ore implications.
Lets go through BHP’s Economic and Commodity Outlook, pull out/summarize the important highlights and provide my thoughts on various topics.
The combo of Cleveland-Cliffs & US Steel would result in the largest steel producer in the US & a monopoly on iron ore production in the USA.
The news dropped Sunday night that Cleveland Cliffs (CLF) has offered a cash and stock bid worth $7.3B for US Steel (X).
Cleveland-Cliffs made an offer to acquire US Steel, valuing each share at $32.53, a 43% premium over US Steel’s last closing price.
Chinese President Xi Jinping made it clear that China will not allow its path to curb emissions to be dictated by others.
After a partial closure due to environmental management non-compliance the Port of Richards Bay has resumed its operations.
Whitehaven Coal announced a court in New South Wales dismissed a lawsuit brought seeking to invalidate consent for Narrabri Stage 3.