The steel industry is suffering from chronic over capacity, with production ability of 1.8B tons but expected 2012 orders of just 1.5B tons. And instead of cutting back, the sector is building more mills, often supported by governments. Major problems include the fragmentation in the industry and the political difficulties of closing plants - witness ArcelorMittal's (MT) travails in eastern France. [View news story]
"fragmentation in the [Steel] industry?" typically the solution is to 'defragmentate'...with a slew of mergers, takeovers and plant closures?
The steel industry is suffering from chronic over capacity, with production ability of 1.8B tons but expected 2012 orders of just 1.5B tons. And instead of cutting back, the sector is building more mills, often supported by governments. Major problems include the fragmentation in the industry and the political difficulties of closing plants - witness ArcelorMittal's (MT) travails in eastern France. [View news story]
Time To Buy Vietnam [View article]
corollary:
"It also pays to keep an eye on the ice, that it is not melting below your feet!"- john evdokias
How Much Extra Cash Does Apple (Or Your Stock) Have? [View article]
a chunk is likely in other jurisdictions with attached tax issues if repatriated to the USA?
Petrobras: Maligned Stock to Benefit From the Continuing Oil Rally - Part II [View article]