$15.25
-0.21 (-1.36%)
Steel Dynamics, Inc. (NASDAQ:STLD)
CAPS Rating:
The Company together with its subsidiaries is a domestic manufacturer of steel products.
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The Company together with its subsidiaries is a domestic manufacturer of steel products.
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My timing in throwing support behind several of the steelmakers back in mid-September is now looking like an unfortunate choice. What looked then like severely overblown concern for slowing demand from Asia quickly came into view during October as a legitimate concern for the near-term. That being said, I still think the group will find some strength on the medium term once the dollar rally ceases to enjoy this irrational rally and demand from China picks back up a bit on the heels of their economic stimulus program. For Steel Dynamics, I await a fundamental recovery in prices for scrap metal, which will make all the difference for them. For now, I am not giving up on my painful green thumb.