Charles Bradford
Charles Bradford
expect prices steel
Expect steel prices to go up by $30 or $35 (US) imminently.
last prices reflected several stock strong weeks
Aluminum prices have been very strong for the last several weeks and Alcoa's stock hasn't reflected it as well as it usually does. It's a catch-up.
costs higher market means money prices scrap strong
You would think that with their costs going up and prices going up, you wouldn't make much more money or would do a little worse, ... But in reality, there has been a very, very strong correlation: The higher the scrap goes, the more money they make. It just means the market is better overall.
clearly costs driving game metal price prices
It's the metal price that's clearly driving it. To some extent, costs are better, but metal prices are the game for an aluminum company.
arrival certainly chinese continue excess june north per price prices raised sell
The Chinese just raised the price for June arrival because they certainly have excess capacity, so they will continue to sell it well under North American prices and still get more per ton.
came cost higher metal prices prior problems shows
Metal prices really came through and they didn't have any of the cost problems they had in prior quarters. It shows what higher metal prices can do.
change
I thought the change in CFO was unexpected.
appear business core metals
It is an extraneous business that Reynolds Metals had. It does not appear to be a core business,
customers lose matter strike
It doesn't matter if it's a strike or lockout, if you don't have the product, they could lose customers long term.
anybody cap contracts left steel
If AK Steel can't get a competitive contract, I don't think anybody would want them. They're the only ones left with an old-style contract. ... All contracts now cap liabilities.
buy china last places
China may be one of the last places where you can buy things on the cheap.
concerned family owns
If the family owns 88 percent, you need to be concerned about who they are working for, the shareholders or themselves.
bid following raised seeing steel
I can't recall, in the 40 years I've been following the steel industry, ever seeing a bid that was raised after already winning.
below guidance quarter second steel strongest though
The (second-quarter) guidance was not very strong, below first-quarter numbers, even though the second quarter is historically the strongest for steel companies, especially mini-mills.