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ArcelorMittal Message Board

  • jorgey54 jorgey54 Sep 9, 2012 10:43 PM Flag

    News on Steel industry/MT

    I like what I am seeing of late...

    March to June, Goldman Sachs increased their stake in MT from 6 million shares to 9.7 million.
    Aug 22nd, Dennis Gartman, aka, the commodity king, likes Steel.
    Aug 23rd, Dahlman Rose downgraded stock to neutral.
    Iron Ore prices been at around a 2 1/2 year low.
    Last Tuesday, Jefferies Group initiated coverage on shares of ArcelorMittal with a buy rating.
    Last Wednesday, World Steel Association said that global steel output surprisely increased 2% yr over yr.
    Last Thursday, China announced $150 Billion infrusture project.
    On Saturday, USW union gives in to management. No strike.
    Did management get the 36% pay cut from the union (July 27th WSJ report)?
    Global steel demand surprisely rises in July.
    US production has been strongly than expected last 4 months.

    Thoughts or opinions would be appreciated. My only thought is buy, buy buy below 16!!

    Sentiment: Buy

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