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XMFSinchiruna (27.08)

Steel prices pointing straight up

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17

June 04, 2008 – Comments (2) | RELATED TICKERS: RIO , X , MT

As long as I'm posting images that speak volumes, how about this steel price chart!  I have delved deep into the coal and iron ore industries, and I can unequivocally state that there is no relief in sight from rising input costs for the steel industry.  The price of steel, therefore, is just getting warmed up.

2 Comments – Post Your Own

#1) On June 04, 2008 at 2:39 PM, binv271828 (< 20) wrote:

Sinchiruna,

Thanks for this post (and all of them!). No doubt, steel prices are going up. bellard had a great blog post about a month ago with a bunch of great steel picks Steel Stocks: Update from latest earnings reports. Also from you ticker at the top Vale (RIO) is a great call for iron mining. And steel recyclers are also a great play. Metallico (MEA) is excellent... well, not today so much :). But when it finds its new bottom after today, it will be a great pick.

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#2) On June 04, 2008 at 4:02 PM, VTEngineer2001 (< 20) wrote:

GNA is a good steel play with room to run and is cheaper than NUE or X so it can be bought in greater volume.

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