I am long several raw material suppliers to steel producers, steel producers themselves, steel fabricators, steel shippers, and users of steel products for construction.
I have no idea what the market will do in the next months, and I have no idea what the steel sector is going to do in the next couple of months either.
Obviously, I am hoping go up.
Some of the steel stocks have come up from their lows (at least for now). And,if this can be considered a positive, there's been no bankruptcy for a while. I see where a couple of stocks are even nearer their annual high than their low.
As you have noted on another thread, there is some anecdotal evidence that demand for steel products is picking up.
Still, imo, a difficult sector to be optimistic about.
Paul Senior |
