Hesitation sets in.When central planners on the other side of the world play a role in commodity pricing, volatility can occur with the release of a single government memo. Wall Street traders, reportedly worried about a potential slowdown in the Chinese construction boom and its accompanying steel demand, began selling off stocks in steelmaking companies in mid-October. In October, steel stocks began dropping rapidly after Bradford Research, New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of , downgraded Nucor Inc., Charlotte, N.C., and Steel Dynamics Inc., FortWayne, Ind. The accompanying report predicted weaker prices and softer orders for the steel industry. Nucor shares lost $4.49, nearly 5 percent of their value, on the day the report was issued, while shares in Steel Dynamics fell nearly $3.00 in value, losing 7.5 percent of their worth. Analyst Charles Bradford told CBS (Cell Broadcast Service) See cell broadcast. Marketwatch that high ferrous ferrous (fĕr`əs), iron in the +2 valence state. Containing or having to do with iron. The difference between ferrous and ferric is the number of valence electrons they contain (ferrous contains two and ferric contains three), which scrap prices would also affect the profitability of the two companies. "We are reducing our rating on Nucor shares due to increased spot steel price weakness and a sharp rebound rebound (rē´bownd), n/v 1. a recovery from illness. n 2. an outbreak of fresh reflex activity after withdrawal of a stimulus rebound adjective in the price of steel scrap, the company's largest [single] cost," he said. Figures released by the Chinese government Ever since Republic of China founded in January 1st, 1912, China has had several regional and national governments. List
Investors and fund managers took at least a short-term position on drops in profits for metals companies, overseas freight companies Freight companies are companies that specialise in the moving ("forwarding") of freight, or cargo, from one place to another. They are divided into several sections, international freight forwarders--which ship goods from country to coutry or domestic freight forwarders (who ship and other publicly traded firms that have mostly benefited from the China boom. (Additional news about ferrous scrap, including breaking news and consuming industry reports, is available online at www.RecyclingToday.com.) |
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