GREY:LBEFF - Post by User
Post by
canada7on Sep 30, 2008 3:18pm
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Post# 15494681
Steel price drop significantly in Asia
Steel price drop significantly in Asia
Just read that steel price drops significantly, particularly in China and Taiwan, in the last two months, and price drop is rapid and aggressive indicating excessive supply but few demand. This caused BDI index to drop significantly too as DRYS is about 1/3 of its peak price. Nickel price follows the steel market, and thus the news is not encouraging.
I was happy to see LBE has a new finance. It cash flow should be OK, but nickel and steel prices are indeed a concern for LBE.