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Steel Dynamics Inc. Message Board

  • Box7 Box7 Jan 13, 1998 6:27 AM Flag

    Status 2

    STLD last @ 17 3/8.

    Techies know that stld is supporting just below its short term moving average (50 ma).

    Today is day 6. An upside break would have to commence either today or tomorrow (Wednesday), if we are to see a test to STLD's 200 day ma, which corresponds to about 22 in stock price.

    Let's see.

    Big picture is that the steels are consolidating, and forming what I call a single upside saucer ( up slope moving averages, fifity below the two-hundred, setting up to wedge). Positive earnings momemtum defintely on the upside.

    Probably what'll happen is thsat earnings will be announced, they won't be that bad, and Wall Street has disocunted it anyway. All the scardy cats have been talking Asian flu, and spooking the rest of the shadowy crowd, like a bunch of headless chickens.

    WHO REMEMBERS THAT THE US STEEL MARKET IS PRIMARILY A SPECIALTY MARKET, SERVICE AND DELIVERY?. And that Asian mild steel is the cheap stock commodity (of course not "entirely").

    Let's see what STLD does. I really don't think STLD's product mix is affected the least bit by this Asian supply bubble that some are talking about. To me this is a lot of bull.

    Regards.
    Box7

    • I wish I had a penny for every person that thinks they can "positve think" a stock to record heights. I'd be a multi-millionaire.

      • 1 Reply to propicker
      • I choose to defend myself, since this is obviously an attack directed to me.

        By the name that you choose to call yourself, "PROPICKER', you obviously have quite an opinion of yourself. Think about fellow human.

        In the meantime, I don't care about your opinion. You obviously think very highly of yourself, at the expense of others. This I deduce from your comment.

        PAX

    • If I may, a quote from Business Week (1/12/98)

      You would think Keith Busse would be celebrating. In only its second year, his steel minimill, Steel Dynamics Inc., has
      grown into a profit leader in the industry. Busse, backed by eager investors, is racing to add $350 million in expansions and
      double his steel-making capacity. But as he looks toward 1998, he worries. Imports are pouring in at record levels. The strong
      dollar, combined with feeble markets in Asia, promises more of the same in 1998. "It could be a troubled year," Busse says.

      (paraphrasing next section to save typing) Demand in 97 was strong, US mills shipped 106M tons, up 3% from a strong 96. Demand is expected to stay strong.

      (back to exact quote) The big questions: Whose steel is the U.S going to consume, and at what price?

      The likely answers are: foreign and cheap. In the second half of last year, low-price imports from countries such as Brazil
      and Russia helped hammer down the price of the industry's standard flat-rolled steel from $360/ton to $310/ton. Now, the
      currency crisis in Korea has driven down steelmakers' dollaar-denominated costs to below $200/ton. "That steel's got to go
      somewhere." frets AISI President Andrew G. Sharkey. If cheap imports drivce U.S. flat rolled steel prices below $300/ton, as many
      expect, look for American steelmakers to push trade suits.

      (article continues)

      • 1 Reply to lakecrazy
      • Good insights, where my thoughts may have been misdirected, this quote and article certainly carries a lot of weight, to better appreciate imports and the effect on the market.

        I would like to hear comments on our abilities to offer more of a mix of product, at high specification, better quality, and quicker delivery. I still understand the US steel industry to be number 1.

        With regard to STLD, I understand has good client relations, and can whip foreign competition. As hard as some may find it to believe, customers do not always buy on only first glance price, but on a combination of factors which can better make value decisions..

        I am surprised to hear that STLD is losing so much business from Asis. Is this what is the truth?

 
STLD
17.02-0.81(-4.51%)Jan 23 3:59 PMEST

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