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MRF catching a bid at 115 bucks after sitting underwater for months, but the underlying ferrochrome spreads remain pressured given Chinese overcapacity flooding the market. That 1.77% pop is noise until we see spot FeCr prices stabilise above the 6000 level and Merafe demonstrate
MRF at 113 cents looking oversold here, the -0.88% today is just noise around a level that's held multiple times before. Reckon we'll see a bounce back to 120 on the next attempt, support at 108 is looking too solid for sellers to break through.
MRF dropped to R113 today, down less than 1% so not the end of the world hey, these commodity stocks jump around like crazy anyway.
MRF up 2.63% to R117 today while ferrochrome peers are getting hammered by weak Chinese demand. That divergence is either a fake move or there's something brewing with management.
MRF at R114 is still cheap relative to ferrochrome cycle recovery odds. That 1.79% pop suggests some are betting on China demand picking up again.
MRF up 1.79% today at R114 but chrome prices are still under pressure. Are we just getting a dead cat bounce or is management actually doing something about the cost structure?
Merafe Resources -0.9% today to R113.00. Who's buying this move and who's selling?
Merafe Resources on my watchlist. MRF results season will be the real test.
Picked up MRF at 114 — ferrochrome margins are recovering quicker than the market expects, and this 0.88% creep suggests institutions are quietly accumulating before the next earnings beat.
MRF at R114 is tracking nicely but Northam Platinum keeps running harder on the back of PGM strength. Makes you wonder if Merafe's leverage to ferrochrome demand is the tighter play right now.
Why's MRF bleeding out at R112 today? With ferrochrome margins still under pressure, is this the capitulation we needed or just another leg down before the turnaround?
MRF at R1.48, down 0.62% today. Chromium prices still under pressure globally so this dip makes sense, but the ferrochrome margins are getting squeezed harder than expected.