Today the world markets rallied as investors believe that printing money will increase growth. OK. I also woke up to the announcement that China steel companies have agreed a further price increase in iron ore. Iron ore stocks have been flying lately but steel stocks globally have been hit pretty hard.
So what will be the turning point for steel? When do the steel companies say "we are paying more for inputs because of China so like it or not, for the limited demand we have, prices will have to increase"?
Something has to give here. Either steel prices rise, input prices fall or steel companies go bust. It just cannot stay as it is.
Anyone have a view?
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Last
$22.43 |
Change
0.170(0.76%) |
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| Open | High | Low | Value | Volume |
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| Last trade - 16.11pm 19/09/2025 (20 minute delay) ? |
| BSL (ASX) Chart |