In today’s briefing:
- Kobelco (5406.T) – Diversified Industrial at Deep Value
- [IO Technicals 2025/25] Bearish Momentum Strengthens
- Kinross Gold Corporation Unlocks 680,000 Ounces in Bold Expansion Drive Across Key Projects!
- NIM: Launching Drill Campaign at New Craigmont Copper Project
- Nutrien Seizes Global Crop Boom—Can Potash & Phosphates Fuel A Revenue Surge?
- Plains GP Holdings: Resilient Crude Oil Has Become A Critical Factor Driving Growth!
- Indian NR Production Marginally Improves, Consumption Down
- Cleveland-Cliffs Abandons Weirton Plant—What’s Behind This Bold Pivot?
- Sherwin-Williams Is Painting Over Housing Market Woes With Strategy & Scale; Will It Work?
- Eni Taps Cyprus for Next Big Gas Play—Is Egypt the Key to Europe’s Energy Future?
Kobelco (5406.T) – Diversified Industrial at Deep Value
- Earnings stable over 3 years as machinery and power offset weak steel margins; ROIC gradually improving.
- Focus on KOBEMAG®, machinery expansion, and carbon-neutral projects with disciplined capex.
- Trades at ~5x P/E due to low ROIC, past governance issues, and misperception as a pure steel cyclical.
[IO Technicals 2025/25] Bearish Momentum Strengthens
- Iron ore prices declined due to weakening demand from China, driven by a slump in its property sector, which has kept iron ore demand for steel subdued.
- China’s steel production dropped 6.9% YoY in May amid capacity cuts, with blast furnace utilisation and pig iron output declining, though some furnace restarts may boost production soon.
- Prices remain below key moving averages, indicating continued downward pressure, and the MACD below its signal line reinforces the current bearish trend.
Kinross Gold Corporation Unlocks 680,000 Ounces in Bold Expansion Drive Across Key Projects!
- Kinross Gold has reported its first-quarter results for 2025, showing a robust performance that follows a strong 2024.
- The company produced 512,000 gold equivalent ounces and achieved notable output from its Tasiast and Paracatu mines, which contributed significantly to cash flow.
- Strong grades and recoveries supported Tasiast’s production, although a fire led to a mill shutdown in April.
NIM: Launching Drill Campaign at New Craigmont Copper Project
- What you need to know: • Nicola has officially commenced its 2025 diamond drilling campaign at the New Craigmont Copper Project near Merritt, BC.
- • The program includes 4,000–5,000m of drilling across multiple porphyry and skarn-style copper targets, including two new, undrilled zones.
- • The campaign builds on 2024 results from the MARB-CAS corridor and follows the discovery of the Draken copper showing in 2023.
Nutrien Seizes Global Crop Boom—Can Potash & Phosphates Fuel A Revenue Surge?
- Nutrien presented its first-quarter 2025 results amidst a dynamic market landscape influenced by geopolitical events and trade disruptions.
- The results indicate a nuanced performance across its business segments, underscored by both opportunities and challenges.
- For investors analyzing Nutrien, these results provide a layered view of current operations and future prospects.
Plains GP Holdings: Resilient Crude Oil Has Become A Critical Factor Driving Growth!
- Plains All American Pipeline, LP reported its first-quarter 2025 results with an adjusted EBITDA of $754 million.
- This performance was achieved amidst a volatile market environment influenced by ongoing trade tariff uncertainties and dissension among OPEC members, which has affected economic forecasts and commodity pricing.
- From a strategic standpoint, Plains All American continues to focus on efficient growth initiatives, with significant attention paid to generating free cash flow and sustaining a flexible balance sheet.
Indian NR Production Marginally Improves, Consumption Down
- FY 2024-25 NR production at 875,000 tons, consumption 1.41 mn tons
- Compound rubber imports go up by 44.5% to 245,407 tons in FY 24-25
- Replanting supported primarily by pineapple farming contractors
Cleveland-Cliffs Abandons Weirton Plant—What’s Behind This Bold Pivot?
- Cleveland-Cliffs reported a challenging first quarter of 2025, grappling with lower-than-expected performance metrics, particularly in terms of EBITDA and cash flow.
- The company attributed these underwhelming results predominantly to low steel prices lingering from late 2024 into early 2025 and the lagging performance of non-core assets.
- The federal tariffs on foreign steel, imposed under Section 232, were highlighted as critical to mitigating unfair competition—a policy supported by the Trump administration that aims to bolster domestic production.
Sherwin-Williams Is Painting Over Housing Market Woes With Strategy & Scale; Will It Work?
- Sherwin-Williams has emerged as one of the more resilient players in a housing market mired by high mortgage rates, weak affordability, and sluggish turnover.
- Despite the macroeconomic headwinds, the company’s stock has surged nearly 23% over the past 12 months and is outperforming the S&P 500 in 2025.
- This performance is backed not by housing strength, but by Sherwin-Williams’ ability to execute on pricing, grow market share, and deliver operational efficiencies amidst volatility.
Eni Taps Cyprus for Next Big Gas Play—Is Egypt the Key to Europe’s Energy Future?
- Eni’s recent results and strategic updates reveal both strengths and challenges that should be considered in an investment thesis.
- The quarter showcased significant strides in line with the company’s strategic objectives, focused on expanding upstream capabilities and enhancing its transition business.
- Positively, Eni reported an increase in net income to EUR 1.4 billion, reflecting a notable 60% rise quarter-on-quarter.
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