Post by
extremerisk on Mar 03, 2022 6:53am
Steel prices moving up quickly in Europe alao
Russia and Ukraine produce 15 percent of steel so taking this out of market for who knows how long will pressure steel prices up. Looks like a protracted war so I would venture to guess steel prices will reach all time now which bodes well for Stelco trading now at well under 1 times ebitda when everyone else is at 4.
With all that cash they are going to buy back another 4 million shares at 100k shares a day which will support price. Stelco should be able to hit a new all time high fairly soon.