BYX- Bayou Steel Message Board

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Microcap & Penny Stocks : BYX- Bayou Steel

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To: Jim Cunningham who wrote (86)	1/8/1999 12:33:00 PM
From: Andrew F	Read Replies (1) of 101

The Japanese Yen has appreciated approximately 28% since the 3Q 1998, which makes it easier for the Japanese to let the U.S. win this round (I think Wed was tariff-related grandstanding by Wash D.C.). The Japanese back off, look like friends, and meanwhile they couldn't keep up their steel shipments at this current exchange rate w/o major bloodletting anyway. Imho, even though (firm) steel prices are important to us, we are a low cost producer... a stronger yen simply makes it easier for us to keep the cash flow chugging out. More importantly, are scrap prices still cheap? That affects our bottomline as much as the firm steel price.

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