The site where students compete, learn, and make money Wednesday, August 20, 2008
DJIA: 68.88 NASD: 4.72 10-YR: -0.043
 
 
 
 
     
 
     

Steel Prices Due To Remain Strong

Submitted by lucas20 on Thu, 01/17/2008 - 15:28.

Goldman Sachs put out a note this week saying that steel prices are set to remain strong in 2008, despite recession. Market tightness has persisted which means that higher pricing may be sustainable through this economic downturn. The Market Vectors Steel ETF (AMEX: SLX) is up over 60% in the past year. GS advocated for Nucor (NYSE: NUE) as their favorite based on value.

Here is a list of the top 5 components of SLX:

Company                           % in SLX         1-yr return

Rio Tinto PLC (RTP)             14.75             77.93%

Cia Vale do Rio Doce (RIO) 14.53             100.95%

Arcelor Mittal (MT)               14.39             55.20%

POSCO (PKX)                      6.45               68.48%

Gerdau S.A. (GGB)              4.63               79.54%

Take a look at the Google Finance comparison chart.


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ya but

Submitted by crimsonba on Fri, 01/18/2008 - 14:49.

Interesting, these feckers are volatile out the butt tho, could be a wild ride this year despite this.

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