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SPDR S&P Metals and Mining ETF (XME)

- NYSEARCA
  • Tue, Aug. 11, 11:35 AM
    | Tue, Aug. 11, 11:35 AM | 25 Comments
  • Wed, Jan. 14, 7:57 AM
    | Wed, Jan. 14, 7:57 AM | 6 Comments
  • Mar. 10, 2014, 10:45 AM
    • The 8.3% dive in the price of iron ore to $104.70 per ton is the 2nd largest one-day decline on record, and came following weekend data showing an 18.1% Y/Y slump in Chinese exports in February (a gain of 7.5% was expected). While miners like BHP and RIO remain optimistic about supply/demand dynamics (though dour on price prospects), Goldman - picking one analyst team - sees the market moving into surplus in H2 and prices falling below $100 per ton.
    • The Shanghai Composite fell 2.9% overnight and Brazil's Bovespa is down 2% in the early-going. Australia (EWAdeclined 0.9% and the aussie (FXA) is off 0.6% to $0.9017.
    • The steelmaking ingredient is off 22% YTD and at its lowest price since October 2012.
    • In the meantime, the rumors are flying, including speculation a mill in China's Shanxi province defaulted on Friday and shut five to six furnaces. There's also chatter about banks looking to call in 20% of loans to private steel companies.
    • EWZ -2.1%, VALE -2.8%.
    • Brazil ETFs: EWZ, BRF, BRXX, EWZS, BRAQ, BRAZ, BZQ, BRZU, BRAF, UBR, BRZS, DBBR, FBZ
    • Base metal mining ETFs: XME, JUNR, PICK
    | Mar. 10, 2014, 10:45 AM | 1 Comment
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XME Description
The SPDR® S&P® Metals and Mining ETF seeks to replicate as closely as possible, before expenses, the total return performance of the S&P Metals and Mining Select Industry® Index. Our approach is designed to provide portfolios with low portfolio turnover, accurate tracking, and lower costs.
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