I agree steel theme is not over yet. I believe the recent sell-down of steel companies have a few reasons, one of them is the recent down trend of steel price in China. It would be short-term, I extracted the following points from one of the bloggers : So far, local rebar price is holding well support despite sell-down in china which often very volatile from Jan hit 4400 to Mar 3600, this is because China has platform to trade future steel in which retail investor and market player all can trade and hedge on all kind of raw material, thus, short term is volatile driven by news development. Toward end of winter and Spring coming, more construction activity will resume, a more concrete physical demand will surface to balance on paper demand in trading platform.
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Posted by qqq3 > 2018-03-26 23:39 | Report Abuse
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