iShares Global Materials ETF

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  • Jun. 5, 2015, 12:41 PM
    • The overall market capitalization of the world's 40 biggest miners has been cut in half over four years, sinking 16% Y/Y to $791B at the end of 2014, according to the latest annual survey by accounting firm PricewaterhouseCoopers.
    • PwC said the top 40 miners' return on capital employed fell to its lowest level since at least 2005, and few companies, including Randgold Resources (NASDAQ:GOLD) and Norlisk Nickel (OTCPK:NILSY), topped 15%.
    • The top 40's dividend coverage was just 1.1x, a practice PwC says "isn’t sustainable in the long term... dividends paid in 2014 consumed all available cash, reducing the balance sheet flexibility of miners."
    • The consequence of the payouts and the falling market cap is that miners’ dividend yield rose to 5%, the highest in a decade.
    | Jun. 5, 2015, 12:41 PM | 11 Comments
  • May 26, 2015, 2:53 PM
    | May 26, 2015, 2:53 PM | 35 Comments
  • Jan. 14, 2015, 7:57 AM
    | Jan. 14, 2015, 7:57 AM | 6 Comments
  • Mar. 20, 2012, 8:33 AM

    The slides from the BHP presentation that's got markets spooked this morning. Slide 7 highlights the company's expectation that Chinese iron ore consumption - after more than quintupling between 2000 and 2012 - is not expected to be much higher in 2020 than it is today.

    | Mar. 20, 2012, 8:33 AM | 3 Comments
  • Mar. 20, 2012, 7:09 AM

    Miners are leading declines in Europe following a BHP executive's comments that Chinese demand for iron ore is flattening out. Competitor Rio Tinto (RIO) quickly trotted out one of its execs to say solid growth continues in China, but the damage was done. BHP -2.9%, RIO -3.3% premarket. Aussie dollar -1.1%.

    | Mar. 20, 2012, 7:09 AM
  • May 1, 2011, 8:08 PM

    "These record-high levels are probably not sustainable," says Jan du Plessis, CEO of Rio Tinto (RIO), talking about base metals prices. While remaining confident of continuing strong demand from China and India, du Plessis, is prepping his firm's balance sheet for falls in copper and iron ore.

    | May 1, 2011, 8:08 PM | 1 Comment
  • Apr. 5, 2011, 11:43 AM

    In a move that could take some of the pressure off of record iron ore prices, India's Supreme Court ends a ban on shipments from the state of Karnataka. A major exporter, India has attempted to keep ore supplies at home to feed domestic steel producers. MXI +0.1%. SLX +0.5%.

    | Apr. 5, 2011, 11:43 AM
  • Feb. 16, 2011, 10:54 AM

    China's attempt at gaining pricing leverage over major producers (VALE, BHP, RIO) by creating a "super-buyer" of iron ore is likely to be overwhelmed by market forces, says an RBS analyst. "Demand for the product is increasing significantly, and not just from China." MXI +0.4%.

    | Feb. 16, 2011, 10:54 AM
  • Jan. 12, 2011, 10:05 AM

    Grain and bean markets are locked limit up ahead of floor trading after the USDA lowers its estimate for corn, soybean, and wheat production and ending stocks. Fertilizer stocks like the news as well. MOS +2.04%, POT +1.39%, AGU +1.54%.

    | Jan. 12, 2011, 10:05 AM
  • Jan. 12, 2011, 8:20 AM

    At 8:30, we get the USDA's roundup of farming commodity estimates and forecasts for this year and final figures for 2010. The report will be closely read for signs of runaway price inflation following a banner 2010 in which corn futures rose 52%, wheat 47%, and soybeans 32%.

    | Jan. 12, 2011, 8:20 AM | 1 Comment
  • Jan. 11, 2011, 5:42 PM

    Grain and bean traders brace for the "Superbowl" of reports from the USDA tomorrow. Bullish numbers will be needed to keep feeding powerful rallies that started last summer. Current forecasts for ending stocks are so tight that a slight deviation in either direction could cause a significant price reaction.

    | Jan. 11, 2011, 5:42 PM
MXI Description
The iShares S&P Global Materials Index Fund seeks investment results that correspond generally to the price and yield performance, before fees and expenses, of the S&P Global Materials Index.
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