Prices for iron plunged earlier this year after China’s economic growth fell to 7.5 percent in the second quarter from 7.7 percent in the first quarter. Global prices for the commodity have rebounded recently as economists have predicted China’s economic growth to improve to roughly 7.7 percent in the third quarter. Recent customs data from China have shown the nation’s imports of iron ore rose 15 percent year-over-year to an all-time high of 74.6 million metric tons in September.
Cliffs Natural Resources Inc. (NYSE: CLF) shares traded in the range of $22.86 to $23.50 Thursday before settling to close at $22.89, an increase of 1.82 percent. The stock appears to be facing some resistance at the $23.69 and $25.09 levels with some support at $22.86. Shares of Cliffs Natural Resources have fallen approximately 40.0 percent in 2013.
More information on Cliffs Natural Resources and access to the free equity report can be found at:
ArcelorMittal (NYSE: MT) shares traded in the range of $15.71 to $16.00 Thursday before settling to close at $16.00, an increase of 0.88 percent. The stock appears to have some support at the $15.63, $15.39 and $14.90 levels. Shares of ArcelorMittal have fallen approximately 8.0 percent in 2013.
More information on ArcelorMittal and access to the free equity report can be found at:
Rio Tinto plc (NYSE: RIO) shares traded in the range of $51.23 to $51.75 Thursday before settling to close at $51.62, an increase of 0.56 percent. The stock appears to be facing some resistance at $51.89 with some support at the $50.76 and $50.26. Shares of Rio Tinto have fallen approximately 11.0 percent in 2013.
More information on Rio Tinto and access to the free equity report can be found at:
Vale SA (NYSE: VALE) shares traded in the range of $16.38 to $16.82 Thursday before settling to close at $16.66, an increase of 1.52 percent. The stock appears to be facing some resistance at the $16.84 and $17.51 levels with some support at $16.24. Shares of Vale SA have fallen approximately 20.0 percent in 2013.
More information on Vale SA and access to the free equity report can be found at:
Wall Street Fundamentals offers our members a full range of investor services including in-depth equity reports on your favorite companies and timely market updates featuring the hottest stocks trending in the marketplace.
Activate your always free membership by signing up at http://www.wallstreetfundamentals.com/ today.
Disclaimer: Information, opinions and analysis contained herein are based on sources believed to be reliable, but no representation, expressed or implied, is made as to its accuracy, completeness or correctness. The opinions contained herein reflect our current judgment and are subject to change without notice. We accept no liability for any losses arising from an investor's reliance on or use of this report. This report is for information purposes only, and is neither a solicitation to buy nor an offer to sell securities. Certain information included herein is forward-looking within the meaning of the Private Securities Litigation Reform Act of 1995, including, but not limited to, statements concerning manufacturing, marketing, growth, and expansion. Such forward-looking information involves important risks and uncertainties that could affect actual results and cause them to differ materially from expectations expressed herein. Wall Street Fundamentals has no financial relationship with any company whose stock is mentioned in this release.
Wall Street Fundamentals
Leave a comment...