The idea that steel imports will be more heavily taxed in the future has set steel stocks alight:- Feb-16-18 U.S. Commerce Department proposes hefty import curbs on steel, aluminum Reuters Feb-16-18 Charlotte CEO calls on Trump to act quickly on steel tariffs American City Business Journals Feb-16-18 Jim Cramer: Retailers Get Their Turn, As FOMO Takes Over TheStreet.com Feb-16-18 Nucor finalizes $22.5M settlement in racial discrimination case American City Business Journals
I sold some of my US Steel last week on the double digit jump after the announcement was made. I am also holding a couple of other domestic steel companies. Also sold the last of my Century Aluminum as well. I started buying into this one in the $6 range back in 2016.
Might be interesting to guess which other sectors might benefit from higher import tariffs - surely this is only the start of this new trend? Personally I dont see an issue with Trump protecting US businesses where US exports are hammered to a greater extent than imports into the US.
Would you look to get back in @JR Ewing or do you think this is just a flash in the pan and the increase in tariffs will eventual be reversed or may never go through?
Interesting to see the graph which shows failed hopes of increased tariffs for steel imports towards the end of last year only for these hopes to be reignited recently. There has been a short-term correction which would seem to indicate uncertainty as to whether the politicians will follow through on their promises.
I'm sure I'll get back into CENX eventually. Still holding a bit of X and several other small positions in other domestic steel companies.
Interesting spin - a trade war? https://www.theguardian.com/busines...steel-and-aluminum-imports-in-bold-trade-move
