2336 GMT - Macquarie questions whether the market has got it right when selling off Champion Iron stock relative to other iron ore producers in the wake of U.S. steel tariffs. Champion Iron's Australia-listed shares are down roughly 1/4 in value since mid-February. "However, Champion Iron sells concentrate to non-U.S. customers and iron ore is largely a China clearing market," Macquarie says. Also, a large portion of Champion Iron's costs are "oil driven", being freight, it says. "Champion Iron should be a beneficiary of the declining oil price," says Macquarie, which retains an outperform call on Champion Iron. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
April 30, 2025 19:36 ET (23:36 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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