Iron Ore, Copper, Equities, Mint Finance

Umang Agrawal

Iron Ore, Copper, Equities

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.

Equity Bottom-Up

<ul>
<li>Steel Dynamics combines steelmaking, metals recycling, fabrication, and aluminum operations, creating a diversified manufacturing footprint across the U.S. and Mexico.</li>
<li>Management expects Q2 EPS to rise by 27% QoQ and 76% YoY, with stronger steel pricing and improving aluminum operations offsetting a one-time asset write-down.</li>
<li>Options positioning suggests elevated volatility ahead of Q2 earnings, while strike activity reflects both downside protection and selective upside expectations.</li>
</ul>


Steel Dynamics combines steelmaking, metals recycling, fabrication, and aluminum operations, creating a diversified manufacturing footprint across the U.S. and Mexico.
Management expects Q2 EPS to rise by 27% QoQ and 76% YoY, with stronger steel pricing and improving aluminum operations offsetting a one-time asset write-down.
Options positioning suggests elevated volatility ahead of Q2 earnings, while strike activity reflects both downside protection and selective upside expectations.


Steel Dynamics (STLD US): Four Catalysts, Three Risks, One Defining Quarter

Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

<ul><li>Steel Dynamics delivered a resilient operating performance despite a year marked by compressed steel pricing and uneven demand across end markets.</li><li>The company benefited from record steel shipments, diversified downstream exposure, and contributions from newer assets that are moving from start-up toward steady-state operations.</li><li>Financial results reflected the trade-off between volume strength and margin pressure, with profitability supported by scale, internal supply chain integration, and disciplined cost control.</li></ul>

Steel Dynamics delivered a resilient operating performance despite a year marked by compressed steel pricing and uneven demand across end markets.The company benefited from record steel shipments, diversified downstream exposure, and contributions from newer assets that are moving from start-up toward steady-state operations.Financial results reflected the trade-off between volume strength and margin pressure, with profitability supported by scale, internal supply chain integration, and disciplined cost control.

<ul><li>Steel Dynamics has taken a bold step toward global expansion by making a joint A$13.15 billion (~US$8.8 billion) acquisition offer for Australian steel producer BlueScope Steel.</li><li>The offer, made in partnership with Australian conglomerate SGH, values BlueScope at A$30 per share—a 26.8% premium to its December 11 closing price and a 22.7% premium to its most recent closing price.</li><li>Under the proposed structure, SGH would acquire BlueScope’s entire share base and subsequently divest its North American assets to Steel Dynamics.</li></ul>

Steel Dynamics has taken a bold step toward global expansion by making a joint A$13.15 billion (~US$8.8 billion) acquisition offer for Australian steel producer BlueScope Steel.The offer, made in partnership with Australian conglomerate SGH, values BlueScope at A$30 per share—a 26.8% premium to its December 11 closing price and a 22.7% premium to its most recent closing price.Under the proposed structure, SGH would acquire BlueScope’s entire share base and subsequently divest its North American assets to Steel Dynamics.

Steel Dynamics Targets BlueScope In A Surprise Bid—4 Strategic Wins If It Closes!

Commodities

<ul>
<li>Chinese steel mill margins are deteriorating, raising the risk of August maintenance, lower hot-metal output and weaker iron ore demand.</li>
<li>CMRG is tightening control over China’s iron ore procurement, with restrictions hitting Australian miners and contributing to weaker shipments.</li>
<li>Across SLX’s top 10 holdings, 7/10 beat EPS estimates, while 8/10 carry positive average analyst price target upside.</li>
</ul>


Chinese steel mill margins are deteriorating, raising the risk of August maintenance, lower hot-metal output and weaker iron ore demand.
CMRG is tightening control over China’s iron ore procurement, with restrictions hitting Australian miners and contributing to weaker shipments.
Across SLX’s top 10 holdings, 7/10 beat EPS estimates, while 8/10 carry positive average analyst price target upside.


Iron Ore: Weak Steel Margins, CMRG Pressure and SLX Set Up a Tug-Of-War

CEO / Founder, Crea8

Kim-Hwa Lim

CEO / Founder

Make an Impact

Crea8

Crea8 blends AI-driven precision, big data scalability, and rigorous quantitative frameworks with seasoned human insight. By extracting actionable intelligence from vast global datasets, we eliminate emotional bias and deliver optimal risk-adjusted returns. Our hybrid approach uncovers hidden market efficiencies and ensures your capital is dynamically positioned across markets.

Cross Asset Strategy

<ul><li>Dividends are a key component of overall returns.</li><li>The strategy seeks to invest in high dividend and Shariah compliant stocks globally.</li><li>By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across countries and industries; and optimised with respect to their expected risks and returns.</li></ul>

Dividends are a key component of overall returns.The strategy seeks to invest in high dividend and Shariah compliant stocks globally.By adopting a portfolio of stocks instead of individual stocks, the strategy is diversified across countries and industries; and optimised with respect to their expected risks and returns.

Global Income (Shariah) Portfolio (18-Aug-2026)

United States

Steel Dynamics, Inc. is a diversified carbon-steel steel producer and metals recycler in the U.S, located in Fort Wayne, IN. The Company's operating segments include Steel Operations, Metals Recycling & Ferrous Resources Operations, and Steel Fabrication Operations. Steel Dynamics products include flat rolled steel sheet, engineered bar special-bar-quality, structural beams.

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Steel Dynamics (STLD US)