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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Grommit who wrote (19936)	10/23/2004 12:40:36 AM
From: Spekulatius	Read Replies (1) \| Respond to of 78704

re Steel stocks - steel prices are down from the peak by about 100$/ton. Still steel prices in the US are far higher than anywhere else in the world, because of sanctions and import tariffs. This hurts all industrial users of steel - how long will this last? I also read in the WSJ that automobile sales in China fell off the cliff last quarter, they are actually down after strong growth for years. I think we have seen the best of this cycle for the steel business. The steel stocks are cheap with respect to P/E ratios right not but it remains to be seen what the sustainable earnings level will look like.