Buying steel in the summer

Nobody wants U.S. Hot Rolled Coil Steel.

Prices are in a trough.

And its reflected in the equity prices of steelmakers such as Cleveland Cliffs (CLF:US) ,as shown in the chart below.

Similar shapes are seen in the stock prices of other steel manufacturers around the world.

June 25, 2024

by Rob Zdravevski

rob@karriasset.com.au