Europe, India, even China imposed tariff on steel imports. China produces over 10X capacity comparing to U.S. During the boom time, their door is shut. Now they want to dump their stuff at the U.S. market. U.S. market has been wide open for too long and has been taken advantage and gamed by foreign producers. It is time for the U.S. government to protect its own industry. We already lost the majority of our manufacturing base and so lost our middle class. All these have been emboldened our competitors. It is time for our government to take swift actions to help our own industries.
ax the dividend and buy back debt at discount will save company lots of money in the short/medium term. When oil tick up, they are in position to pay more dividend. with price at $5 this is oversold. This is a good report if you are a long term holder.
Europe, India, even China itself imposed tariff on steel. We are only filing a case now. That is why we are losing manufacturing jobs. It takes too long to get anything done
back on Sept 2014, GST has offering of $110 million, recent asset sale $45 million, previous quarter profits of $20 million. looks like they are ok since they are hedged on the low oil price.
their production was hedged at a certain percentage and price. i think for 2015, 2016, 2017 should be fine. oil is volatile, nobody knows what will happen during these times. oil is not sustainable at $50. It does not make sense to produce more oil or invest in new rig at this price
Europe imposed tariff on foreign steels (mainly come from China)
India imposed tariff on foreign steels.
Even China imposed tariff on foreign steels before April 2015.
U.S. steel market is WIDE WIDE OPEN. China producing 10 times steel output than the U.S. Now China's economy is ticking down, and its own construction industry slowed a lot, they need to find a place dump the excess capacity and the U.S. is the perfect place. We must do more to protect our own industries
The question is why Europe and India and other nations put up tariff to stop dumping from China, Why U.S. does not act?
oil goes down to $50 is because of manipulators, same when it went up to over $100 couple years ago.
But $50 is real cheap today, and if you look 20 years ago, $50 is like $10. You have all these inflation and the world wide central banks printing money. Take China for example, 20yrs ago average wage is about $10 per month, Now it is over $3000. Same situation in the U.S., if you look at the college tuition and housing costs.
Commodity prices this low, all these producers are really screwed.
China steel production 10X the U.S. How can the U.S not being hurt if the door is wide open. This is ridiculous for our government. They are playing our rules. Their government is helping their industries while our is not.
There is a real danger the Petro Dollar alliance will collapse. Without Saudi backing the dollar, the oil market will diversify to other currency. That is why Obama and Kerry are naive at there are no enemies, no competitors in this world.
Saudi and U.S. probably using each other. U.S. uses Saudi to pressure Russia, Saudi uses this moment to pressure the little guys. However I think the Saudi is getting the short end of the stick. It is stupid to drive down oil if your self is also a producer. On the other end, U.S. makes friend with Iran. Why not just get Iran/Russia together and trim production. $50 oil today is like $10 twenty years ago. World wide central banks are printing money like crazy..