RE:Excessive Optimism Based on last published report their breakeven is $685 cdn or $534USD.
Lots of profit potential here based on current future prices. I think key is with pandemic and artificially low rates has the federal reserve set the table for higher inflation. I think they have which means all commodities will appreciate including steel. Demand strong as lots of businesses shut down for a year so playing catch up now. Can't see steel prices going back to where they were.
short term pain now but long term safe to be optimistic here. Steels haven't had much success last 20 years so now it's their turn.
I would definitely not short here.