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Strategies & Market Trends : Bosco & Crossy's stock picks,talk area

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To: sscholle who wrote (8620)	3/30/2005 12:35:00 PM
From: Mike M2	Read Replies (1) of 37387

Scholle, the steel sector came under pressure from a number of issues 1. increase in chinese production of low end steel see reuters.co.za 2. Major european steel producer #2? Arcelor cutting production to reduce inventories. 3. fears that the Fed rate hikes might impact the bubble economy 4. rising costs of iron ore & metalurgical coal - although labor , health care & retiree benfits costs are the big cost for US steel producers . It is my understanding that US Steel ( X) has its own iron ore mines while AKS must purchase its ore. 5. Barron's Doug Kass piece ( I haven't read it) . the iron ore producers are a nice way to play steel BHP, RTP, RIO less competitive pressures. CLF - Great Lakes region iron ore producer is quite volatile. Final point - fears that China's economy may slow it's rate of growth- it would still be the world's fastest growing major economy .

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