/biz/ - Business & Finance

I'm making an education plan for steel and I'm so overwhelmed with everything I have to learn. It will take me years.

>>57450950
>I think what you're missing with Vale is that it's a Brazilian stock, so you have to take forex into account.
That's true, and I would like to look into a US iron producer to study more because of that. But what I meant was actually that VALE moves near perfectly with Iron prices, but with no time-delay. So, by the time I see iron go up, VALE has already gone up too... so it's not easy to make money off that unless I see some momentum.

I'm trying to find /leading/ indicators for scrap, steel, and steel stocks to trade off of, so sometimes just correlation isn't all that helpful if it doesn't clue me into what the next movement could be next. I am starting to gather some trends that I can use to probabilistically make some decisions, but, it's early days.

Of course, there is also macro events (like tariffs or chinese dumping steel on us) thatI need to learn about. Like if X happens, what might happen to steel. Like if we get into war with Iran, is that good for steel? I need to start learning these things.

>I like to look at lots of things priced in gold for an absolute measure of value, as it factors out currency noise
That's really interesting. I'll add that to my spreadsheet.


...
In other news, Nucor beat earnings.

>>57401342
Thank you. I wonder what steel they are pricing there.

HRC is at 1083usd and scrap (BUS1) at 480. Metal spread at 55.7%. My opinion is we're still going to see some downward pricing movement.