Winning! USA's largest Nail Manufacturer on the brink of closing!

originally posted by: BlueAjah
US Steel Manufacturer stocks are up,

US Steel has dropped from it's high of 47 in march to 34 today in keeping with Trump's Trade War.

That is a 28% drop.

AK Steel down 30% from January..

Etc. etc.

U.S. steel stocks fall as trade war intensifies
www.reuters.com...

What is your definition of "up"?

It's exhausting when right wingers shout the earth is flat.

originally posted by: JIMC5499
a reply to: hopenotfeariswhatweneed

I'm basing it on thirty years experience in manufacturing. I'm in a position to see the ramp up. The company that I work for MAKES some of the machinery that is needed by the steel industry. I also do consulting work for the steel mill that I am referring to.

Oh, are you the entire industry? Anecdotal observations are not statistics.

a reply to: soberbacchus

I think what most Trump supports are trying to tell you is just because US Steel value has dropped substantially doesn't mean Trump hasn't affected a 12,000% increase in US Steel value and turned the economy around and created 750 million new jobs you see!?!

Non-Stop winning as far as the eye can see!

originally posted by: GoalPoster
Just a quick question . . . how many of the responders in this thread own or run a business that relies on steel as a raw material, and employs over 250 people.

Not trying to be an ass, rather just wondering.

Argumentum ad verecundiam. Nice try, but your logic is flawed.

But i can pick your statement apart in many ways. First of all, steel is a generic term here. Rolled steel differs from wire for instance.

originally posted by: JIMC5499
a reply to: gariac

You haven't a clue do you? The ramp up has already started. The steel mill in my town is opening lines that have been closed for years. The problem is that they had removed machinery from the inactive lines to support the active lines so that machinery has to be replaced. They have to train people to operate that machinery. Raw materials need to be obtained. The list goes on and on. Relying on the stock market for indicators is a joke. A better indicator would be the price of scrap steel and iron.

My sheet metal fabricator told me that since they use US made steel there will be no price increase unless their vendor raises prices. That may happen as the demand for US made steel increases, I can see prices being jacked up commodities brokers. He also told me that if I knew of upcoming needs to order as soon as possible because they are getting an increasing number of orders.

Manufacturing in the US has been beaten down for the last 30 plus years. it is not going to instantly come back.

I present facts. You tell me stories. Case closed.

originally posted by: JIMC5499
a reply to: hopenotfeariswhatweneed

I'm basing it on thirty years experience in manufacturing. I'm in a position to see the ramp up. The company that I work for MAKES some of the machinery that is needed by the steel industry. I also do consulting work for the steel mill that I am referring to.

Again argumentum ad verecundiam. You are not the industry.

Stocks fall when companies take the money that they would pay in dividends and use it to re-tool and expand. It is ironic that you would mention AK. AK bailed out of Birmingham Alabama and opened mills in Mexico and then imported their product back into the US. They are one of the reasons for the tariffs. No wonder their stock is going down.

originally posted by: JIMC5499
Stocks fall when companies take the money that they would pay in dividends and use it to re-tool and expand. It is ironic that you would mention AK. AK bailed out of Birmingham Alabama and opened mills in Mexico and then imported their product back into the US. They are one of the reasons for the tariffs. No wonder their stock is going down.

In the era of cheap money, self financing your expansion doesn't happen.

originally posted by: lordcomac
Didn't we just see this post on monday?


honestly, if a 25% bump in material costs is enough to put you out of business, you weren't long for this world anyway... but hopefully some US steel production kicks up before the year is out. Would be nice to see the US actually producing something in my lifetime.

The typical profit margin for a lot of industries is only 10 to 15%.