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Strategies & Market Trends : ajtj's Post-Lobotomy Market Charts and Thoughts
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To: Sun Tzu who wrote (42416)11/8/2021 12:23:04 PM
From: Jacob Snyder1 Recommendation

Recommended By
ajtj99

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Steel prices will follow iron ore prices down, after a lag. It just hasn’t happened yet, but it will. You did not say your time period for this trade, but it would have to be short. Just as there are many closed inefficient mines that could be re-opened, there is a lot of under-used steel capacity.

Steel prices tradingeconomics.com mid-2018 to mid-2020, were in a 3500-4000 CNY/t range. I would not go long steel producers till prices return to that range. I would not be fully invested, till the bottom of that range.

If I was brave enough to short, I would short both VALE and MT.
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