RE:RE: HRC: Prices rise on higher mill offerYes, prices rose, then fell again. Steel prices are a bit up and down. But I suspect that last week STLC share prices rose quite a bit, and now it's falling back some. At least the stock is/was low enough to buy more shares. I don't quite understand why people/institutions would be selling now at just $40 when they are about to release earnings.
Prices on the New York CME are holding up fairly well. I figure if Stelco could have excellent earnings at $959 for hot rolled, they should make a ton more at twice the price, and with December being the lowest price at $1660 ($2075 CAN), they should have a banner year. Even if these prices fall to around $1550, that's still more than twice as much as Q.1's $959.