I think Steel will have its day soon. The energy crisis and the Ukraine war will reduced global steel production and supply considerably. Supply reduction shall far exceed the demand destruction arising from inflation and economic slowdown. The global largest steel producing countries are : (1) China, (2) EU, (3) India, (4) US, (5) Russia, ( 6) SKorea, (7) Turkey, (8) Brazil, ( 9) Iran, (10) taiwan, (11) Ukraine But the 2nd (ie EU) and 4th ( ie US) largest producers don't produce enough for domestic use. US and EU are the world top and 2nd largest nett importers respectively. Top nett exporters are : (1) Russia, (2) Japan, (3) SKorea, (4) Ukraine, (5) China, (6) India. The top 2 nett importers need to import more to fill the production curtailment due to sanction and exorbitant energy cost. The top nett exporters Russia and ukraine are not going to fill the gap due to war, sanction and logistical issues. Other nett exporters like Japan, Skorea, China and India are not keen to produce more .
Mycron is another good one to short9e since Fed chairman, Powel determined to flatten the inflation by raising interest rate, hence bringing down the commodity prices!
The latest qr released by downstream player ald showed decline in profit margin due to high raw material price despite increase in revenue Hope Mycron as a midstream player still able to sustain their profit margin
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....
maf1964
466 posts
Posted by maf1964 > 2022-04-21 20:21 | Report Abuse
so what wus it be for mycron on friday. up or down?