How do you see the automotive brinksmanship effecting Big Steel?

Answers

readytoretire answered a question in General Market.
2222 points

readytoretire answered one year ago …

I think it is already affecting it. Look at US Steel. They had a record quater and have lost about 50% since then. The lower cost of iron ore will only help so much if you don't sell but a fraction of what you did last year. They are predicting a significant decrease in this quarter revenue. The pin action from having the banks lock up again is to ensure that no-one else can get funding for growth, so steel gets hit from that side also.

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