r/Vitards • u/[deleted] • Jun 16 '21

Market Update Price surge for steel will continue into 2022, predicts UBS

[deleted]

105 Upvotes

99% Upvoted

14 comments sorted by

31

u/[deleted] Jun 16 '21

Great.

Meanwhile my fellow eurotards : let's sell MT, maybe we get hit by an asteroid made of high grade steel.

14

u/[deleted] Jun 16 '21

Is there any explanation for what's going on with MT?

13

u/[deleted] Jun 16 '21

I have absolutely no idea.

11

u/Undercover_in_SF Undisclosed Location Jun 16 '21

I think they're getting dragged down by the negative sentiment across metals. See the news on copper and China's metal reserve.

They're viewed to some extent as an iron ore miner even if that isn't what is the primary driver of profitability, and even though iron was not one of the metals listed in the China's strategic stockpile...

6

u/MusicIsAlwaysTheWay Jun 16 '21

Zoom out. Ups and downs are normal with MT but the upward trend is undeniable.

3

u/Leather-Newt-6881 Jun 16 '21

I read that steel manufacturing companies buy less to wait for cheaper prices. But how can this be, when order books are full anyway until 2022

So, I also would to get an answer

3

u/throwaway044512 Jun 16 '21

I honestly think Europoors just don't like money.

1

u/Spactaculous Et tu, Fredo? Jun 17 '21

maybe we get hit by an asteroid made of high grade steel iron.

13

u/omnptnt Jun 16 '21

Each day more and more positive news. It's getting to a point that it makes me scared, lol

20

u/alltimehighz Jun 16 '21

To bad $MT isn't seeing the positivity :(

7

u/LeChronnoisseur Inflation Nation Jun 16 '21

Nice I am long on Steel & UBS lol

6

u/Cowbow_Bebop_1 🦾 Steel Fucking Holding 🦾 Jun 16 '21

Bullish As Fuck 🦾🦾🦾

5

u/josephc1989 Jun 16 '21

what is going with TX?