William Ellard

Steel Stocks: Update from Recent Earnings

I still really like the internationals also: PKX, GGB, MT, etc..., but I think the domestics are better valuations right now. Its not just the weak dollar per say, its global inflation helping the domestics. Coking coal, and coal prices are running 30% higher internationally vs the US. Also with energy prices soo high, imports into the US are drying up.

US steel inventories are also very very low - another factor for better future cash flows from domestics vs intl....