Life Investing....What about Steel Stocks ?

Hog's Gone Fishin · 10-20-2015, 07:49 AM

I took a load of scrap metal to the salvage yard and nearly had to pay them to take it. I remember several years ago people everywhere were dragging trailers loaded to the hilt with steel to the yards making good money scavenging. So I thought I'd investigate a little.

US steel (x) is selling for around $12 / share right now

Less than 12 months ago it was near $50

In 2008 it was $196

Right now it is at a 10 year low.

I'm reading that China is the major producer and supplier but their economy is faltering and the steel companies are in danger of going belly up. When this happens we should see prices move up.

Thinking about throwing 5 at it but don't want to wait for a Chiefs SB win to make a profit.

Thoughts ?

10-20-2015, 07:49 AM	Topic Starter
Hog's Gone Fishin Fish are scared of me Join Date: Nov 2001 Casino cash: $1670477	Investing....What about Steel Stocks ? I took a load of scrap metal to the salvage yard and nearly had to pay them to take it. I remember several years ago people everywhere were dragging trailers loaded to the hilt with steel to the yards making good money scavenging. So I thought I'd investigate a little. US steel (x) is selling for around $12 / share right now Less than 12 months ago it was near $50 In 2008 it was $196 Right now it is at a 10 year low. I'm reading that China is the major producer and supplier but their economy is faltering and the steel companies are in danger of going belly up. When this happens we should see prices move up. Thinking about throwing 5 at it but don't want to wait for a Chiefs SB win to make a profit. Thoughts ?
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