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Michelle Galanter Appl...'s  Instablog

Michelle Galanter Applebaum spent over 20 years at Salomon Brothers, in New York and Chicago. During her years on Wall Street, Ms. Applebaum was the #1-rated steel industry analyst according to Institutional Investor magazine from 1988 through 2003 and was a managing director with the firm.... More
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Steel Market Intelligence
  • Advance/Decliner Index Surges Ahead; China Leads the Way
    The Advance/Decliner Index is our effort to quantify the anecdotal price information we find in our every day reading about global steel price trends. We also are looking at relative prices in the U.S. versus abroad in our attempt to gauge international price pressure/opportunities heading our way.
     
    Advance/Decliner Surges Ahead. Our Advance/Decliner Index increased for the fourth consecutive week, climbing to 62% from 33% last week. Our China index rose to 100% from 75% the week before as no price decreases were reported in China for the first time since July. Not only did we see increases in the spot market, we saw large Chinese steelmakers such as Baosteel and Wuhan Iron & Steel announce price hikes for a number of steel products for December for the first announced contract price increase since early August. Our ex-China index jumped to 45% from 16% last week as prices strengthened in Asia and the Middle East.
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    Tags: NUE, X, MT, steel
    Nov 16 10:05 pm | Link | Comment!
  • Losing Our Virginity to Trade Terrorism
    The Administration's recent decision to impose a 35% tariff on tires in the USW-led trade case versus China has provoked an outcry of protectionism not only from the global court of public opinion, but from many on our own shores as well. Americans rightly believe that free trade is our birthright, and that comparative advantage is the bedrock of free trade.
     
    It’s our view that America is the world’s last remaining “trade virgin”; as a nation we are so completely and blissfully unaware of the protectionist behavior of many of our trading partners that we actually rush in to apologize when some of us stand up and say “ouch” - because we truly just don’t know any better.
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    Tags: NUE, X, MT, AKS, STLD, CMC, GNA, GGB, RS, CLF
    Nov 04 11:09 pm | Link | 2 Comments
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