Amid a tepid commodity complex, iron prices have been bolstered by a positive sentiment, and “renewed optimism that China’s vast property sector is emerging from the gloom of recent months,” wrotre Clyde Russell for Reuters. “Iron ore contracts in Singapore ended at $129.24 a metric ton on Monday, the highest since March 16, extending a rally since an Aug. 3 low of $103.21 to 25%.” Publicly traded companies in the space include AK Steel (AKS), ArcelorMittal (MT), Cleveland-Cliffs (CLF), Nucor (NUE), Steel Dynamics (STLD), TimkenSteel (TMST) and U.S. Steel (X).
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on CLF:
- Seaport Research flat-rolled steel analyst hold analyst/industry conference call
- Cleveland-Cliffs announces price increases for certain steel products
- US Steel (NYSE:X) Gains as New Buyers May Get Involved
- U.S. Steel looks to be ‘Cleveland-Cliffs’ to lose,’ Faber says
- Cleveland-Cliffs increases current base prices for steel products
