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Steel Prices Soar Today
Steel company’s shares are soaring following news of recent anti-dumping duties. Specifically, China is receiving a 266% duty that will effectively lock the country out of the United States steel market. This single catalyst appears to have started to reverse the decline. Additionally, Brazil and Japan were also given duties of 39% and 71% respectively. This is the second time since December 2015 that the US government has penalized on foreign steel producers for selling steel in the US at unfairly low prices. US steel producers are not fully pleased since South Korea was only assessed a mere 6.9% duty as they are the second largest source. This recent news appears to have provided a tailwind to the industry and for those with enough liquidity should see a brighter future over the long-term and thus keep the shorts at bay as they have been pushing the possibilities of bankruptcies and their short position pressure.
Our subscribers to our PWC STOCK REPORTSSM subscription service had access to our security analysis pointing to a specific undervalued company back in September of 2015 that will most likely benefit over the long-term. Recent US government tariffs on steel imports from China are having a positive impact on the stock price and was one of our projected catalysts in our report.
At Port Wren Capital, LLC, we specialize in picking specific undervalued U.S. stocks using fundamental analysis developed by Benjamin Graham using a five step process. We have beaten the S&P500, DJIA and NASDAQ benchmarks since we started 5 years ago on our own investments. Discover the difference for yourself. To learn more contact us today.
Basic Materials Sector company that our members had access to in September 2015 and that we invested in is currently Up 32.25%.
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