Iron Ore and Dry Bulk Freight, Mint Finance

Umang Agrawal

Iron Ore and Dry Bulk Freight

Deep Fundamental Analysis

Mint Finance

Mint Finance's investment research blends deep fundamental analysis with technical & quant insights. Investment strategies straddle across multiple asset classes with risk management embedded into every trade to deliver an outsized reward-to-risk ratio.

Mint Finance's research is centered around three key themes. First, energy transition and climate change. Second, artificial intelligence. Third, shifting world order with its impact across politics and monetary economics.

Commodities

<ul>
<li>Iron ore miners lift output guidance, signalling confidence despite China’s property slump and slowing steel demand.</li>
<li>India emerges as a critical growth driver yet cannot offset China’s structural steel demand weakness.</li>
<li>Rising supply from Simandou and peers heightens downside risk, keeping the iron ore outlook cautiously bearish.</li>
</ul>


Iron ore miners lift output guidance, signalling confidence despite China’s property slump and slowing steel demand.
India emerges as a critical growth driver yet cannot offset China’s structural steel demand weakness.
Rising supply from Simandou and peers heightens downside risk, keeping the iron ore outlook cautiously bearish.


Iron Ore Giants Stay Bullish on India, China Demand Wobbles

Global Commodities, Mint Finance

Srinidhi Raghavendra

Global Commodities

Equity Bottom-Up

<ul>
<li>
<a href="https://www.smartkarma.com/entities/glencore-plc" target="_blank" data-smartkarma-citation="entities:764:1" rel="noopener">Glencore Plc (GLEN LN)</a> shares are down 15.3% YTD and remains undervalued relative to peers. Asset optimisation, buybacks &amp; dividends to drive its share prices higher.</li>
<li>Firm has identified USD 1 billion in annual cost savings, with at least 50% expected to be realized in the second half of 2025.</li>
<li>The company has reiterated its commitment to shareholder returns via USD 1 billion buyback and USD 1 billion through dividend payout.</li>
</ul>



Glencore Plc (GLEN LN) shares are down 15.3% YTD and remains undervalued relative to peers. Asset optimisation, buybacks &amp; dividends to drive its share prices higher.
Firm has identified USD 1 billion in annual cost savings, with at least 50% expected to be realized in the second half of 2025.
The company has reiterated its commitment to shareholder returns via USD 1 billion buyback and USD 1 billion through dividend payout.


Down But Not Out! Multiple Tailwinds to Drive Glencore Higher (Long GLEN | TP: GBp 360)

Asia Pac IPO & Placement Research, China biotech, Aequitas Research

Ke Yan, CFA, FRM

Asia Pac IPO & Placement Research, China biotech

IPOs and Placements coverage across Asia Pacific

Aequitas Research

We cover all listing across the Asia Pacific along with follow-up placements. As of Dec 2020, our team had covered 539 IPOs with a hit rate of 73.5% and 685 placements with a hit rate of 66.8%.

We combine fundamental bottom-up views with our proprietary quantitative framework to provide a holistic coverage across new listings and placements. Our coverage includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

Quantitative Analysis

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Aug 22nd (reported today). The aggregated short interest was USD25.6bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Bluescope Steel, CSL, Wesfarmers, Northern Star Resources, Lottery.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Aug 22nd (reported today). The aggregated short interest was USD25.6bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Bluescope Steel, CSL, Wesfarmers, Northern Star Resources, Lottery.


ASX Short Interest Weekly (Aug 22nd): Bluescope Steel, CSL, Wesfarmers, Northern Star Resources

Providing investors with a balanced perspective, Massif Capital

Massif Capital Research

Providing investors with a balanced perspective

Massif Capital

Research focused on providing investors with a balanced perspective on the environmental and economic realities of achieving a carbon-neutral economy for businesses within the Energy, Basic Materials and Industrial industries.

The Massif Capital Real Asset Strategy is a global long/short equity strategy built around bottom-up stock picking. We are focused on creating a portfolio of businesses from within the Energy, Basic Materials and Industrial sectors that balance the environmental and economic realities of achieving a carbon-neutral economy.

<h3><strong>This Week's Key Take Aways</strong></h3>
<ul>
<li>Lithium stock run may already be out of steam</li>
<li>Like Oil, the Natural Gas markets appear well supplied and are showing near-term weakness.</li>
<li>No love for North American lumber</li>
<li>Copper continues to have us on edge, love the long-term story, but we have got to survive the short and medium term to get there.</li>
<li>Renewable tax credit qualification has a new physical work standard; the race is on to build.</li>
</ul>

This Week's Key Take Aways

Lithium stock run may already be out of steam
Like Oil, the Natural Gas markets appear well supplied and are showing near-term weakness.
No love for North American lumber
Copper continues to have us on edge, love the long-term story, but we have got to survive the short and medium term to get there.
Renewable tax credit qualification has a new physical work standard; the race is on to build.


Real Asset Chartbook Week #18: Lithium Blinks, Gas Slips, Copper Stalls—Who Survives the Grind?

<ul>
<li>We analyzed the changes in short interest of ASX Stocks as of Aug 15th (reported today). The aggregated short interest was USD26.2bn.</li>
<li>We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.</li>
<li>We highlight short interest changes in Liontown Resources, CAR, ANZ, Light &amp; Wonder, Premier Investments.</li>
</ul>


We analyzed the changes in short interest of ASX Stocks as of Aug 15th (reported today). The aggregated short interest was USD26.2bn.
We tabulate league tables for top short by value and short as multiple of ADT, as well as weekly increases &amp; decreases in short value, short as multiple of ADT.
We highlight short interest changes in Liontown Resources, CAR, ANZ, Light &amp; Wonder, Premier Investments.


ASX Short Interest Weekly (Aug 15th): Liontown Resources, CAR, ANZ, Light & Wonder

Australia

Rio Tinto Limited is an international mining company.  The Company has interests in mining for aluminum, borax, coal, copper, gold, iron ore, lead, silver, tin, uranium, zinc, titanium dioxide feedstock, diamonds, talc and zircon. Dually-listed company with RIO LN.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
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Rio Tinto Ltd (RIO AU)

Iron Ore Giants Stay Bullish on India, China Demand Wobbles

Iron ore giants stay bullish on output, betting India’s steel boom offsets China’s slowdown, property drag, and mounting protectionist headwinds.

Mint Finance

Down But Not Out! Multiple Tailwinds to Drive Glencore Higher (Long GLEN | TP: GBp 360)

Glencore shares down 15.3% YTD. It remains undervalued compared to peers. Stronger 2H, ~USD 1B cost savings, USD 1B of buybacks, and USD 1B of...

Mint Finance

ASX Short Interest Weekly (Aug 22nd): Bluescope Steel, CSL, Wesfarmers, Northern Star Resources

We analyzed ASX short interest report for the past week and highlight short interest changes in Bluescope Steel, CSL, Wesfarmers, Northern Star...

Ke Yan, CFA, FRM

Real Asset Chartbook Week #18: Lithium Blinks, Gas Slips, Copper Stalls—Who Survives the Grind?

This Week's Key Take Aways Lithium stock run may already be out of steam Like Oil, the Natural Gas markets appear well supplied and are showing...

Massif Capital Research

ASX Short Interest Weekly (Aug 15th): Liontown Resources, CAR, ANZ, Light & Wonder

We analyzed ASX short interest report for the past week and highlight short interest changes in Liontown Resources, CAR, ANZ, Light & Wonder,...

Ke Yan, CFA, FRM

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Iron Ore Giants Stay Bullish on India, China Demand Wobbles

Iron ore giants stay bullish on output, betting India’s steel boom offsets China’s slowdown, property drag, and mounting protectionist headwinds.

Mint Finance

Down But Not Out! Multiple Tailwinds to Drive Glencore Higher (Long GLEN | TP: GBp 360)

​Glencore shares down 15.3% YTD. It remains undervalued compared to peers. Stronger 2H, ~USD 1B cost savings, USD 1B of buybacks, and USD 1B of...

Mint Finance

ASX Short Interest Weekly (Aug 22nd): Bluescope Steel, CSL, Wesfarmers, Northern Star Resources

We analyzed ASX short interest report for the past week and highlight short interest changes in Bluescope Steel, CSL, Wesfarmers, Northern Star...

Ke Yan, CFA, FRM

Real Asset Chartbook Week #18: Lithium Blinks, Gas Slips, Copper Stalls—Who Survives the Grind?

This Week's Key Take Aways Lithium stock run may already be out of steam Like Oil, the Natural Gas markets appear well supplied and are showing...

Massif Capital Research

ASX Short Interest Weekly (Aug 15th): Liontown Resources, CAR, ANZ, Light & Wonder

We analyzed ASX short interest report for the past week and highlight short interest changes in Liontown Resources, CAR, ANZ, Light & Wonder,...

Ke Yan, CFA, FRM

Glencore shares down 15.3% YTD. It remains undervalued compared to peers. Stronger 2H, ~USD 1B cost savings, USD 1B of buybacks, and USD 1B of...