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  • Steel Mills Boosting Prices: Cold Rolled Coil Hits A 1-Year High  [View article]
    What there is a scarcity of is steel that is not dumped. The anti dumping duties have had something to do with this for sure. As for Chinese exports, I suspect that these are going to countries that did not impose duties , countries with minimal steel production and I would not be surprised if a lot of this was related to China's silk roads project. Some of this exported steel could find its way into dumping protected markets through back doors as well. As more anti dumping duties get put into place, China will have to create market at home or shut capacity.
    Apr 18, 2016. 05:21 PM | Likes Like |Link to Comment
  • ArcelorMittal moves higher despite J.P. Morgan downgrade  [View news story]
    Percentages distort reality here and in many cases - MT has traded in the range of aprox. $3 to over $20 over the past year or two and is currently trading around $5.75 . Steel has always been a very cyclical business with a wide range in highs and lows. MT has also gone a long way in improving its fiscal being over the past little while by raising over 4 billion which will go towards reducing debit. They have also worked hard at cutting costs both in steel making and raw materials with further gains to come. What you have with MT is a company that has used equity issues, asset sales and cost reduction to put itself in a very good position to prosper in a reasonable steel market.
    JMO - Long MT
    Apr 18, 2016. 01:18 PM | 4 Likes Like |Link to Comment
  • Iron ore rally to fade as oversupply kicks in, Citi says  [View news story]
    To try and predict Iron ore pricing with any certainty is pretty much a wild card. The big 3 players control most of the market on the supply side while China is the one major customer on the buy side. The tune these players decide to play more or less dictates sea born price. Any change in tune has a major impact on price. Good luck to anyone trying to figure it out! As for pricing, you really have to toss percentages aside. The price has ranged from $38/ ton to $190 per ton and currently is running around $53 a ton - that paints a more accurate picture. ;-)
    Apr 18, 2016. 01:11 PM | Likes Like |Link to Comment
  • Encana: Will The Rally Continue?  [View article]
    Encana only needs to increase another 300% to reach pre oil crash highs. Funny how percentages work isn't it.;-) - A stock drops by half and its a 50% drop but from that price its 100% gain to get back where it was. That is why I ignore percentages. ;-)

    As for ECA - I like the company - good assets, reducing debit and costs.
    Apr 13, 2016. 08:23 PM | 4 Likes Like |Link to Comment
  • Crude inventory builds during the last week  [View news story]
    Monkeys seems to be whats working the calculators at the EPA these days!!! ;-)
    Apr 13, 2016. 11:55 AM | Likes Like |Link to Comment
  • Chesapeake Energy Scores Big Win To Avoid Bankruptcy  [View article]
    The big win amounts to one last chance to deliver. They either deliver or the creditors will own it all.
    Apr 12, 2016. 10:09 AM | 1 Like Like |Link to Comment
  • No-Brainer: A Tata-ThyssenKrupp Merger Would Be Good For European Steel  [View article]
    We will keep seeing difficult times for European steel makers as long as China keeps dumping steel in Europe and Europe keeps dragging its rear end rather than doing something about it. Funny thing is that China just imposed anti dumping duties on some European steel - talk about adding insult to injury. There is only one question really - How long will Europe keep being stupid on steel for?? MT may get 50% of its production from Europe but between the recent moves to raise capital and sell/ shut down plants, and their world wide production foot print, they are in a good position to ride this out. I am not so sure about some of the other players.
    Apr 9, 2016. 01:36 PM | Likes Like |Link to Comment
  • Ford And General Motors Should Learn From Toyota  [View article]
    In my area, Toyota and Honda both pay comparable wages and benefits to Gm and Ford - That is how they keep the UAW out. JD Powers survey is not something I would trust - try Consumers Reports and Lemonade (the car buyers bibles for decades now) and you will see that the imports still win hands down.
    The big reasons for Ford and GM's problems all have to do with poor quality, poor reliability and in efficient production. Toyota quite simply makes some of the by far best power trains in the industry - The 2.4 liter engine and 6 speed automatic transmission they put in the Rav 4 for example - most repair shops are well versed in Fords and Gm's but have never seen one of these - that tells you all you need to know.
    Unfortunately its been the some old story for 40 years now - anything new coming from Ford and GM = trouble for the consumer and Chrysler is even worse.
    They have never learned and it seems they never will.
    Apr 8, 2016. 08:01 PM | 4 Likes Like |Link to Comment
  • ArcelorMittal: More Bullishness Ahead  [View article]
    You seem to have missed the fact that MT is also using the 3 billion raised by issuing shares to also reduce debit further .
    Apr 8, 2016. 03:00 PM | 1 Like Like |Link to Comment
  • Wall Street Breakfast: Is Japan Running Out Of Options?  [View article]
    Comical!!! "Current Fed Chair Janet Yellen appeared last night with predecessors Ben Bernanke, Alan Greenspan and Paul Volcker for a panel discussion at the International House of New York,"

    The Architect of the easy money disaster meets with the latter two that have so far unsuccessfully tried to fix it!! The other one must have just been their to smile and say I had nothing to do with it!!!

    Apr 8, 2016. 09:01 AM | 8 Likes Like |Link to Comment
  • ArcelorMittal: The Bull Run Will Continue  [View article]
    They will IMO survive and prosper - Largest steel company in the world with a world wide presence and operational synergies others can only dream of. Along with some money losers, they also have some of the best money making plants in the world and a raw materials division that is comparatively a low cost producer. Europe seems to be finally waking up to the damage being caused by Dumping and should be doing something about it which would be very positive for MT. Comical part here is that China (US has placed 260% anti dumping duties on Chinese steel) has actually placed anti dumping duties on European steel. I guess sometimes you got to get your rear end rearranged by a Chinese boot before you wake up! ;-).
    MT is also very focused on value added steels with by far the largest R&D group in the industry (1000 people). With the capital raise and asset sales, they are taking a very big step in reducing their debit. They are also restructuring the US division to improve profitability with minimal impact on production.
    IMO - There are other companies in the steel business that are far more vulnerable than MT and MT will be around for a very long time. They are cutting costs and aligning their operations to be very profitable in anything approaching a normal steel market.
    JMO - Long MT
    Apr 7, 2016. 10:26 AM | 3 Likes Like |Link to Comment
  • U.S. readies bank rule on shell companies  [View news story]
    Good - a lot needs to be done here as the vast majority of these type of companies IMO serve no other purpose than to hide illegal or shady activity.
    Apr 7, 2016. 10:23 AM | Likes Like |Link to Comment
  • Reuters: TransCanada delays Keystone restart, to cut April shipments by 35%  [View news story]
    Go ahead - Make my day! Short your brains out!! ;-)
    Apr 7, 2016. 10:12 AM | 3 Likes Like |Link to Comment
  • Wall Street Breakfast: Following Fed, ECB Minutes Next  [View article]
    Lots of jobs at Walmart that will give them some income and let them make payments while they look for something better.;-) I do agree with the government needing to tighten up on eligible colleges and even eligible programs - why promote education in disciplines where there are no jobs??
    Apr 7, 2016. 10:05 AM | 2 Likes Like |Link to Comment
  • Energy Infrastructure Unravelling And Knitting Together  [View article]
    I never did like MLP' quite simply they were designed buy the quick money boys to get more out of what is supposed to be conservative assets. Reality tells us that you can not do that without increasing risk which means that you are no longer dealing with conservative assets or investments. This IMO makes them medium term trading vehicles. in other words buy some of the better ones now and sell when the energy business improves so that some one else is holding the bag next down cycle. The hedge funds and some of the other clowns in this business tried to push conservatively run TRP more down the MLP road and TRP resisted. Looks like TRP has proved to be right as the strong and conservatively managed TRP just took out Columbia pipelines while the likes of KMI get their rear ends rearranged while bouncing along the bottom. So much for carpet bagger peddled financial engineering!;-)
    Apr 5, 2016. 02:56 PM | 1 Like Like |Link to Comment