Jump to content

Steel prices and shares


Recommended Posts

I own shares in two steel companies in the U.S.  One of them is giving huge incentives.  Don't quote me but I think it was $2000 per person and if the whole unit (location or department??) got fully vaccinated, another $1000 per person.  Not too shabby!

  • Like 4
Link to comment
Share on other sites

1 hour ago, OnMyWay said:

I own shares in two steel companies in the U.S.  One of them is giving huge incentives.  Don't quote me but I think it was $2000 per person and if the whole unit (location or department??) got fully vaccinated, another $1000 per person.  Not too shabby!

Could I please have an employment application? 

  • Like 1
  • Haha 3
Link to comment
Share on other sites

  • Forum Support
2 hours ago, intrepid said:

Could I please have an employment application? 

Be careful what you wish for...... 

  • Hmm thinking 1
Link to comment
Share on other sites

10 hours ago, intrepid said:

Could I please have an employment application? 

They also got $3500 in quarterly profit sharing!  Steel companies are making huge profits right now!

  • Like 1
Link to comment
Share on other sites

5 hours ago, OnMyWay said:

They also got $3500 in quarterly profit sharing!  Steel companies are making huge profits right now!

They have been yes but the iron ore price is heading sharply down due to the drop in Chinese demand and that will flow on to a drop in demand for steel.

Link to comment
Share on other sites

  • Forum Support
34 minutes ago, GeoffH said:

Chinese demand

Steel prices in the US seem directly impacted by Biden's policy.  This is going off topic to study it here if you like https://time.com/6089649/infrastructure-bill-industries-benefit/

  • Like 1
  • Thanks 1
Link to comment
Share on other sites

7 hours ago, Dave Hounddriver said:

Steel prices in the US seem directly impacted by Biden's policy.  This is going off topic to study it here if you like https://time.com/6089649/infrastructure-bill-industries-benefit/

In addition, didn't the previous president increase tariffs by 15-25% on steel and aluminum? That would certainly help those industries.

  • Like 1
Link to comment
Share on other sites

7 hours ago, GeoffH said:

They have been yes but the iron ore price is heading sharply down due to the drop in Chinese demand and that will flow on to a drop in demand for steel.

The Chinese government is restricting steel output so that is why the iron ore supply is building up and prices going down for the ore.  If anything, Chinese restrictions on steel output are good for the U.S. companies I own.

Steel demand in the U.S. is expected to be strong through the end of 2022, at least.  If the U.S. gov passes the ridiculous "infrastructure" bill, that is even more support for steel.  The price for Sep 21 HRC is over $1900!  It was $600 in 2019!

  • Like 1
Link to comment
Share on other sites

  • Forum Support

On a whim, I was thinking of buying some penny stocks in Labrador Iron Mines exploration division until I read their August financials.  The long term for iron is not bullish.


"In the longer-term analysts generally expect iron ore prices to retreat from recent highs with Brazilian supply
recovering, however government Covid relief programs and infrastructure investment worldwide are expected to
create continued medium term demand for steel and thus for iron ore. "

Link to comment
Share on other sites

 

The companies themselves are profitable...  but it isn't showing up in the dividends to shareholders.... the dividends are pitifully low. Case in point, US Steel paying a whopping .15% annual dividend... yep, thats 15/100 of 1 percent.... might easier to measure in peso's I think.  If you bought steel stocks a year ago, sell now... if you think steel stocks will out play everything... make someone happy and buy the stock they selling today :6:

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
×
×
  • Create New...