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I was rebutting your statement that no one was going to shut down a steel plant. The report I posted indicates otherwise. I'll keep doing my own research and share what I want,to, not what you request.
Blackout: What about some links pointing to the glorious days ahead for the steel Indiustry and steel Investors.
In contrast, I could give you ten links to the clean up and Union layoff costs facing the steel industry.
They are mind boggling figures which some prefer to willfully ignore.
No one huh... you should try reading more.instead of posting bs.
@Emissions controls in Tangshan, China, could cut into city’s 90 million tons of annual production. RTGE Staff JULY 20, 2015 Environmental regulators in China are reportedly targeting steel mills in the city of Tangshan, China, with stricter emissions limits that could cut into production in the steel-intensive region. According to a Reuters report, new standards to be enforced in the summer and early fall of 2015 could force furnace and mill closures and thus cut into China’s steelmaking capacity glut. More than 25 steelmakers operate in the city, located less than 100 miles east of Beijing, operating more than 100 blast furnaces, according to Reuters. The city’s estimated annual production of 90 million metric tons of steel surpasses that of the entire United States. The measures, which in part target the use of lower-grade coal, have been designed to ease air pollution in Tangshan and Hebei Province in which it is located and also to bring China’s steel production closer in line to what it is estimated to consume annually by 2017. China’s current annual steel production rate of more than 820 million metric tons has resulted in an overcapacity situation that has lowered steel prices globally as exported Chinese billet and finished steel has been shipped into other nations. The low steel prices have likewise suppressed the value of ferrous scrap. The Reuters report says steel traders in China are already anticipating the emissions enforcement effort will have an impact, with billet prices in northern China rising by as much as 60 Chinese yuan ($9.50) per ton in mid-July.
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Some people don't like the truth, but integrated steel will be in the tank for a long while to come. Why do you think USS is shutting the BF down at Fairfield and putting in an EAF? Why is Mittal talking about shifting some production from Indiana West over to the EAF JV plant in Delta, Ohio?
Sentiment: Strong Sell
Maybe early 2016 we should see Europe and Asia start to slowly rebound. Africa GDP grew 6.5 percent, hopefully that's a step in the right direction here. India will continue to grow, infrastructure projects should ramp up. China is still a concern and America as well. This industry needs some massive consolidation still, ak steel might not survive. ArcelorMittals debt is a cause for concern though, but I wouldn't be too too worried the Mittals still hold a lot of shares, and lakshmi mittal is a true steel titan..it.would be a shame of they truly became insolvent but they won't let this go bankrupt, he sits on the board of goldman sachs, I'm sure they have access to any kind of liquidity they need.Aditya Mittal the CFO his son, he probably got a little too carried away, the spending spree is coming back to bite them. That's why the street is valuing this at 8ish.. I think around 6 it would be something to consider, I won't jump in before that. Slow and steady decline weekly so far, dollar strength is still.a major issue. Monitoring this closely, don't expect any changes in the steel.market yet either. Their will be some tremendous value when this bottoms.
Because of cleanup costs , no one can afford to shut down a steel plant. The excess capacity is over 60% and will be so for the next 25 years.
The Cos can only dissolve by going into sudden Bankruptcy with no compensation to any shareholder. Stay clear of steel.
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Steel and iron ore glut will now last another 10 years a more. Global demand is shrinking whilst MT hopes to build even more plants in his native land.
Best guess is "risk off" day. Everyone is running for cover even though Greece should be no more than a pimple on the European economy. US treasuries are back down to levels not seen since 2009 as people "flee" to safety.