ONE-TWENTY TWO: Trading Financial Markets
Exploring the poetry in financial markets for students of money and economy since the year 2000.
The on-going steep drop in steel stocks started in early April and preceded the S&P 500’s late April peak. With worries increasing about a global slowdown, I finally decided to look up worldsteel’s last update of its forecasts for 2010 (and 2011). I was quite surprised to find that in April, worldsteel expected “…demand in … Read more
The World Steel Association (worldsteel) forecasts for 2010 confirm my earlier view that steel demand (and production) most likely bottomed this year and some kind of recovery is underway. Worldsteel’s forecasts indicate that demand for steel in 2010 will return to 2008 levels after contracting in 2009 by 8.6%: “The World Steel Association (worldsteel) is … Read more