Word: nucor
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Stock pickers should consider steel (Nucor, International Steel Group), fertilizer (Agrium), farm equipment (Deere), coal (Peabody), precious metals (Newmont Mining), paper goods (International Paper, MeadWestvaco) and energy (ExxonMobil). Then, when the prices you pay at the counter go up, so should your portfolio...
...increases or any job losses. Without an adequate tariff, Blecker argues, the U.S. economy stands to lose more than 300,000 jobs. The President should not bow to the pressures of foreign importers who are profiting from steel imported in violation of trade laws. --DAN DIMICCO President and CEO Nucor Corp. Charlotte...
...picture, it can be found at America's mini-mills, which are investing in new technologies, keeping costs low, rewarding workers for productivity, boosting quality and moving into new lines of business. They now account for nearly half of U.S. steel output, up from 15% in 1970. Led by Nucor, based in Charlotte, N.C., and Steel Dynamics, based in Fort Wayne, Ind., the minis run mostly nonunion shops and forge steel with less energy and labor than their integrated counterparts...
...larger players like United have been either unwilling or unable to replicate. And the once great steel companies of America’s past—US Steel and Bethlehem Steel—have both been so unsuccessful in competing with cheap foreign producers and nimble competitors like Nucor that both have applied for bankruptcy protection this year, with the distinct possibility that Bethlehem may never emerge as a viable company...
...Nucor Corp., a $4 billion North Carolina steelmaker, the global tumult has hit home in both ways. Nucor's exports are down, falling globally from an annual rate two years ago of 700,000 tons to the present 30,000 tons, much of which is accounted for by Asian markets. But far more worrisome is the tough competition in the U.S. market from cheap steel made in Japan, Korea and Russia. Currency devaluations in those countries have made their products cheap for American buyers, says chairman Ken Iverson. "The U.S. is the only economy left that's doing well...