Sales are down due to the freeze . Margins are also down as supplies are more expensive due to the weather and transport cost.
Sold half this a.m.
Because of the slow down in the East & Brazil ,we have a steel glut which may ease up in 2016.or beyond.
MT has seen its high for 2014..
The range ahead is flat to down.
Any reasons why some Hedge Funds have it as a short.?
Due to financing & verification of Livel 1-3 Reserves it takes nearly 6-12 mths for deal to close.
This rise is premature.
My F.A says that the 3 Horsemen will dominate the cloud space . RAX and TDC pricing is too high and they will see a rev decline. Meanwhile ALIBABA will also be setting up cloud servers here in the US.
Looks like the big money in Cloud Computing has already been made.
They have done a wonderful PR job improving their asset base with absolute confidence that the Shareholders have the resources.
This is the basis of wealth transfer thanks to the greed of ill informed Investors.
There is world wide glut of steel. MT has seen its high for 2014 another year of losses. In addition it faces huge asset impairments which cannot be addressed due to local union politics.
MT may improve in early 2016.