Issuer Ranking: North American Metals And Mining Companies, Strongest To Weakest Jan 11
Standard & Poors, January 2011
Abstract
Credit quality for the North American metals and mining sector has been improving, albeit unevenly, over the past several quarters, a trend we expect to continue in 2011. Companies that have been exposed to the run-up in metal prices, such as copper, gold, and metallurgical coal producers, as a result of demand from China and other developing markets--as well as the related speculation--continued to post solid results. On the other hand, companies that rely more on the U.S. economy, such as steel producers and distributors and steam coal miners, faced more daunting challenges because of price competition and relatively weak demand. For example, demand for steel did not increase as expected during the second half of 2010, depressing prices and...
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Research Type: Commentary
Criteria articles describe the thought process and methodology Standard & Poor's analysts use in determining ratings. These commentary pieces discuss both the quantitative (economic and financial) and qualitative (business analysis and caliber of management) aspects of the analysis, as well as legal issues.
- Alcoa Inc.
- Carpenter Technology Corp.
- Newmont Mining Corp.
- Nucor Corp.
- Worthington Industries Inc.
- Cliffs Natural Resources Inc.
- Commercial Metals Co.
- Freeport-McMoRan Copper & Gold Inc.
- Consol Energy Inc.
- Teck Resources Ltd.
- Drummond Co. Inc.
- Barrick Gold Corp.
- Russel Metals Inc.
- Essar Steel Algoma Inc.
- AK Steel Holding Corp.
- GrafTech International Ltd.
- International Wire Group Inc.
- Allegheny Technologies Inc.
- Steel Dynamics Inc.
- USEC Inc.
- Peabody Energy Corp.
- Cameco Corp.
- Arch Coal Inc.
- California Steel Industries Inc.
- Stillwater Mining Co.
- Massey Energy Co.
- Century Aluminum Co.
- United States Steel Corp.
- James River Coal Co.
- Walter Energy Inc.
- Compass Minerals International Inc.
- General Cable Corp.
- Alpha Natural Resources Inc.
- Coleman Cable Inc.
- Novelis Inc.
- International Coal Group LLC
- Murray Energy Corp.
- Edgen Murray Corp.
- WireCo WorldGroup Inc.
- Tube City IMS Corp.
- Continental Alloys & Services Inc.
- Thompson Creek Metals Co.
- JMC Steel Group Inc.
- Reliance Steel & Aluminum Co.
- Metals USA Holdings Corp.
- McJunkin Red Man Corp.
- Oxbow Carbon LLC
- Noranda Aluminum Holding Corp.
- AmerCable Inc.
- U.S. Silica Co.
- Goldcorp Inc.
- Cloud Peak Energy Resources LLC
- Ryerson Holding Corp.
- Patriot Coal Corp.
- Bourland & Leverich Supply Co. LLC
- Global Brass and Copper Inc.
- Foresight Energy LLC
- Atkore International Inc.
- Fairmount Minerals Ltd.
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