This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

China Steel Data Portends Slowdown?

In an email, Landsberg told the TheStreet, "That said, the stockpiles need to be monitored closely -- and could end up being an early sign of something more substantial brewing in China, but I don't think so.... I think the Chinese economy will continue to expand rapidly but we shall see."

Other observers of raw materials markets were also optimistic. "We've seen iron-ore pricing remain firm. That's a good indicator," says Anthony Rizzuto, the metals and mining equities analyst at Dahlman Rose in New York. The analyst said that the bump in stockpile amounts likely occurred as a kind of natural move by iron ore buyers ahead of the Lunar New Year holiday in China. He said that Chinese consumer demand remains strong, which will buttress steel production.

So far this earnings season, the biggest iron ore miners in the world have reported blockbuster profits, helped by the rising price of seaborne iron ore -- which itself was helped by a shift to short-term supply contracts between miners and global steelmakers last year.

Even the North American-focused iron-ore miner Cliffs Natural Resources (CLF - Get Report) had a banner 2010, with its CEO predicting more good times this year.

Brazil's Vale (VALE - Get Report) is slated to report 2010 results on Thursday, the last of the world's big three iron ore miners to release results, after Rio Tinto (RIO) and BHP Billiton (BHP).

-- Written by Scott Eden in New York P/>

RELATED STORIES:





>To contact the writer of this article, click here: Scott Eden.

>To follow the writer on Twitter, go to http://twitter.com/ScottEden.

>To submit a news tip, send an email to: tips@thestreet.com.

Disclosure: TheStreet's editorial policy prohibits staff editors and reporters from holding positions in any individual stocks.
2 of 2

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
EXM $0.00 0.00%
BHP $44.57 -1.39%
CLF $5.65 5.41%
DSX $6.50 -1.07%
DRYS $0.75 -3.63%

Markets

DOW 18,126.12 -36.87 -0.20%
S&P 500 2,120.79 -2.69 -0.13%
NASDAQ 5,097.9760 -8.6170 -0.17%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs