This counter is for long term holding, not for contra, short term and weak investor. Have you ever seen warren buffet shouting everyday in a stock forum? If you think this stock is hopeless, maybe you yourself are more hopeless because of no patient and just want make quick money
Despite the worry of interest rate increase in the US, the share price of Nucor was breaking new high on 21/4/2022. The share price of Nucor (the biggest steel stocks in the US) had moved up north from 78.99 on 31/3/2021 to 175.59 on 21/4/2022. The share price of Nucor had increased 122% in the last 12 months. Share price jatuk awak cakap, naik tak cakap.
I think Steel will have its day soon. The energy crisis and the Ukraine war will reduced global steel production and supply considerably. Supply reduction shall far exceed the demand destruction arising from inflation and economic slowdown. The global largest steel producing countries are : (1) China, (2) EU, (3) India, (4) US, (5) Russia, ( 6) SKorea, (7) Turkey, (8) Brazil, ( 9) Iran, (10) taiwan, (11) Ukraine But the 2nd (ie EU) and 4th ( ie US) largest producers don't produce enough for domestic use. US and EU are the world top and 2nd largest nett importers respectively. Top nett exporters are : (1) Russia, (2) Japan, (3) SKorea, (4) Ukraine, (5) China, (6) India. The top 2 nett importers need to import more to fill the production curtailment due to sanction and exorbitant energy cost. The top nett exporters Russia and ukraine are not going to fill the gap due to sanction and logistical issues. Other nett exporters like Japan, Skorea, China and India can't do much too.
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....