Yes I agree it is a staggering under-reaction by the market today to a $300M EBITDA upgrade on MC of $10.2bn. Im a new holder attracted to the loads of cash they are raking in. Well now they are raking in a $hitload more!
Doesn't the US plan on rolling out govt funded infrastructure programs? Pretty sure that will add to steel demand.
The US/Aus are unlikely to have the energy issues China and Europe are having so good places to make steel. Steel prices in US are staying strong with IO dropping margins are increasing -> https://au.investing.com/commodities/us-steel-coil-futures-historical-data
Even if the market crashes that makes it even more likely the US government will invest in infrastructure programs.
At some stage the cycle will turn but you know this could also run for a while.
Will sleep on it but i am inclined to load up again.
Yes I agree it is a staggering under-reaction by the market...
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