time to buy steel stocks.... ready to participate in the rally now...
these will rise soon. Buffet says to buy when others are fearful and sell when they are greedy. well MT and all steel stocks have been out of favor.. will soon turn and they are gonna fly!!! China will benefit these companies. they are a smart people... know how to grow their economy!!!
Slightly off. The Injuns tried to emulate the Chinese as Global visionaries.They, coaxed bt Wall St wizards ,kept up buyiing Cos to become world class players. So they thought.!. The Chinese did not venture into metals because they have a surplus of steel plants in China. Despite that, the Owners M with their super egos kept gobbling up Steel plants at sky high prices.
The Chinese had the last laugh because they control the steel market thru Shangai Metals. There is a glut of 30% overcapacity principally in Europe and the old Eastern Bloc countries. MT is heavily in debt . In addition some of his planst are outdated and they cannot be scrapped as the Unions enjoy political support.
Like debt reduction, this glut of steel making is not going away any time soon.