From a current market perspective, the automotive manufacturing, energy and construction markets continue to be stable, while a slight tempering appears to exist in the transportation and agricultural sectors. Steel backlogs have drawn down to a small degree since the end of March. This has been principally, I think, procurement-driven as buyers stayed out of the market in anticipation of even lower scrap prices or taken the opportunity to realign their inventories, particularly in the SBQ arena. Underlying demand appears though to be stable. And with some capacity exiting the market, low sheet imports and a strengthening scrap market, positive momentum may begin.
Steel Dynamics Management Discusses Q2 2012 Results - Earnings Call Transcript
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts