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As a follow on to the previous comment, Canada and Mexico are replacing China on the import front; this is with a weak dollar. It will take several more months for them to get up to par, as for January through April they managed on average to increase output by 'only' 30%. Once they achieve 50%, again, we question the intermediate pricing power of U.S. hot and cold rolled sheet and tubular products.
Jun 03 05:09 am
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All Comments by CrossProfit_ »Coping with Steel Surcharges (a.k.a Price Hikes) [View article]
See: www.stockhouse.com/New...
"April increases were primarily reported for wire rod, oil country tubular goods (OCTG), hot-rolled sheet and reinforcing bar, according to Census Bureau figures", this competes head on with U.S. Steel. [Above quote is for Germany, with the high Euro!]
See:
www.crossprofit.com/vi...
Current stock market expectations for further near term price increases is unrealistic in our opinion.
CrossProfit