Steel mill profits need to lift for that to happen.
We have the COVID zero light policy rally on at the moment and moment is strong.
But a key issue here is that Steel mill revenue needs to dramatically rise for these gains to be sustainable.
The steel mills in China are still underwater. HRC is picking up and sits in a slightly profitable state but rebar is still unprofitable for them.
I have long foreseen this rally and naturally benefit from it immensely. But for us to hold the gains I want to see the Steel Mills making good coin.
I hope the Chinese consumer can open its wallet.
Steel mill profits need to lift for that to happen.We have the...
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| Open | High | Low | Value | Volume |
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| Last trade - 16.10pm 06/06/2024 (20 minute delay) ? |
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Last
$6.54 |
Change
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| Last updated 15.59pm 06/06/2024 ? | |||||
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