Charles Bradford
Charles Bradford
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.
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.
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.
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.
bet local united
If you're a local union, that's your only revenue. I bet if the United Steelworkers were in there, this would be settled.
generally percent
It's generally pretty vague. It could be 10 percent or more, but 10 percent or more of what?
attractive company
It's a nonunion company that has been consistently profitable. That's always attractive in the industry.
expect prices steel
Expect steel prices to go up by $30 or $35 (US) imminently.
concerned family owns
If the family owns 88 percent, you need to be concerned about who they are working for, the shareholders or themselves.
reflects surprising
It's not surprising at all, because (Nucor) reflects the market.
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.
appear business core metals
It is an extraneous business that Reynolds Metals had. It does not appear to be a core business,
gone
That's why nobody's gone after them in the past.
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.