Bulk Commodities Get Another Short-Term Boost from China. Major Miners Remain Overvalued
Steel-making materials stocks, those exposed to iron ore and coking coal, have markedly outperformed our near-term expectations. The key reasons have been continued strong steel demand growth, particularly in China, and more recently, Vale’s tragic tailings dam failure and Cyclone Veronica. Iron ore supply losses this year are material, about 6% of global iron ore supply and some of that will bleed into 2020. Coking coal supply has also been impacted in the near-term through increased safety ins...Iluka Resources is engaged in mineral sands exploration, project development, operations and marketing. Co. is a producer of zircon and titanium dioxide products, as well as rutile and synthetic rutile products. These products are used in a range of applications. Co.'s segments include Australia, which comprises the integrated mineral sands mining and processing operations in Victoria, Western Australia and South Australia; United States, which includes its mineral sands mining and processing operations in Virginia; and Mining Area C, which comprises a deferred consideration iron ore royalty interest over certain mining tenements in Australia operated by BHP Billiton Iron Ore.
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