Wall Street Fundamentals Releases New In-Depth Stock Reports on CLF, MT, RIO and VALE
China’s steel production is on pace to set a new record high in 2013, according to a recent forecast from the Chinese government. On Wednesday, Zhu Hongren, chief engineer at the Ministry of Industry and Information Technology, is on pace to produce 790 million metric tons in 2013, up from the previous high of 716.5 metric tons last year. Data from the Shanghai Futures Exchange has shown that prices for the metal in June rallied 2.2 percent, after sliding approximately 14 percent from January to May.
Cliffs Natural Resources Inc. (NYSE: CLF) shares traded in the range of $17.98 to $18.64 Thursday before settling to close at $18.38, an increase of 0.44 percent. The stock appears to be facing some resistance at the $18.77 and $21.75 levels with some support at $15.69. Shares of Cliffs Natural Resources have fallen approximately 52.0 percent year-to-date.
More information on Cliffs Natural Resources and access to the free equity report can be found at:
www.WallStreetFundamentals.com/CLF
ArcelorMittal (NYSE: MT) shares traded in the range of $12.81 to $13.00 Thursday before settling to close at $12.99, an increase of 0.78 percent. The stock appears to be facing some resistance at the $13.29 and $14.11 levels with some support at $12.79. Shares of ArcelorMittal have fallen approximately 25.6 percent year-to-date.
More information on ArcelorMittal and access to the free equity report can be found at:
www.WallStreetFundamentals.com/MT
Rio Tinto plc (NYSE: RIO) shares traded in the range of $44.57 to $45.14 Thursday before settling to close at $45.14, a decrease of 0.11 percent. The stock appears to be facing some resistance at the $45.21 and $46.76 levels with some support at $43.41. Shares of Rio Tinto have fallen approximately 23.0 percent year-to-date.
More information on Rio Tinto and access to the free equity report can be found at:
www.WallStreetFundamentals.com/RIO
Vale SA (NYSE: VALE) shares traded in the range of $14.14 to $14.47 Thursday before settling to close at $14.45, an increase of 1.55 percent. The stock appears to be facing some resistance at the $66.98 and $68.43 levels with some support at $65.06. Shares of Vale have fallen approximately 31.0 percent year-to-date.
More information on Vale and access to the free equity report can be found at:
www.WallStreetFundamentals.com/VALE
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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.
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