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Strategies & Market Trends : John Pitera's Market Laboratory -- Ignore unavailable to you. Want to Upgrade?

To: MulhollandDrive who wrote (5304)	12/17/2001 10:10:18 PM
From: John Pitera	Read Replies (1) \| Respond to of 33421

Hi Mrs. P, lots of steel produced in the world now a days. The Koreans are big producers and Pohang Iron and Steel PKX, was the 2nd lowest cost producer in the world 2 years ago. Ken Heebner, the Boston portfolio manager, used to talk up Pohang the past few years. stockcharts.com[h,a]daclyymy[pb50!b200!b21!i][vc60][iUb14!La12,26,9] it's been a volatile stock the past 3-4 years, I was long it for a while in 1999. stockcharts.com[h,a]daclyymy[df][pb50!b200!b21!i][vc60][iUb14!La12,26,9] steel consumption is probably weak, but there is a lot of production capacity and the Pac Rim economies are weak along with the rest of the world. Since the US steel industry has been in decline since 1960, Steel imports have been a sensitive subject.. and very political as well. Bush was even talking about competitiveness issues regarding the steel industry this summer. JP