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  • 04 Nov 2024

MT, CMC, CLF, US REBAR, US AUTO, ELECTIONS, ESG


Rio Tinto plc (RIO:LON), 4,374 | BHP Group Ltd (BHP:LON), 1,831 | ArcelorMittal SA (MT:AMS), 0 | Nucor Corporation (NUE:NYSE), 0 | Nucor Corporation (NUE:NYS), 0 | STEEL DYNAMICS (STLD:NYSE), 0 | Steel Dynamics, Inc. (STLD:NAS), 0 | Cleveland-Cliffs Inc (CLF:NYSE), 0 | Cleveland-Cliffs Inc (CLF:NYS), 0 | Commercial Metals Company (CMC:NYSE), 0 | Commercial Metals Company (CMC:NYS), 0

  • BNP Paribas Exane
    • Gresser Tristan TG

    • 12 pages


 

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MT, CMC, CLF, US REBAR, US AUTO, ELECTIONS, ESG


Rio Tinto plc (RIO:LON), 4,374 | BHP Group Ltd (BHP:LON), 1,831 | ArcelorMittal SA (MT:AMS), 0 | Nucor Corporation (NUE:NYSE), 0 | Nucor Corporation (NUE:NYS), 0 | STEEL DYNAMICS (STLD:NYSE), 0 | Steel Dynamics, Inc. (STLD:NAS), 0 | Cleveland-Cliffs Inc (CLF:NYSE), 0 | Cleveland-Cliffs Inc (CLF:NYS), 0 | Commercial Metals Company (CMC:NYSE), 0 | Commercial Metals Company (CMC:NYS), 0

  • Published: 04 Nov 2024
  • Author: Gresser Tristan TG
  • Pages: 12
  • BNP Paribas Exane


In a nutshell: . US REBAR (NUE/CMC) - Steelmakers hike offers for the first time in almost a year . ARCELORMITTAL (+) - Plan of new 18mt greenfield plant in India gets more precise . CLEVELAND-CLIFFS (-) - Q3 preview: stretching the balance sheet . US AUTO - October sales increased MoM, inventories continue to rise . THEMATIC RESEARCH - Trump vs Harris: The Final Countdown . ESG - Materiality Mapped - Sector by Sector Daily Prices as of November 1 / PRICE MOVERS . MACRO/COMMODITY WRAP: China''s National People''s Congress are meeting during November 4-8 to discuss approval of the fiscal stimulus measures. The market is closely monitoring the US Election on Tuesday. Base metals trading was higher this morning on the SHFE; nickel +1.0%, aluminium +0.3%, zinc +0.8%, copper edged up. Rio Tinto (+) was reportedly in three way talks with Entree Resources and the Mongolian government to reach a deal that would allow RIO to access parts of the OT mine owned by Entree in order to prevent a drop off in grades. Botswana''s new president Duma Boko said on Friday that he wanted to conclude talks for a new sales pact with De Beers, a unit of Anglo America (+). Iron ore futures slid this morning as the market closely monitor the US election and a key meeting by China''s NPC for cues on stimulus measures. Gold (USD 2,742/oz) remained below a record high as the market monitor a tight US presidential election that could have a significant impact on economic policy. A 25bps Fed rate cut is 95% priced for November. . Macro data this week: US Factory orders on Monday, China Exports and Imports on Wednesday, US Nonfarm Productivity on Thursday . US REBAR - Steelmakers hike offers for the first time in almost a year: According to industry sources, Gerdau followed CMC (+) and STLD (=) in raising rebar prices by USD 30/st last Friday. This marks the first price hike in almost a year and follow similar attempts for plate, HRC and OCTG from other producers in recent...

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