Not exact matches
THE proposed large increases in global steel production in WA have been welcomed by the Australian gas industry as a leading indicator of improved
metals demand and a sign of economic
recovery in the North East Asian
markets.
This was a welcome development for
Metals & Mining equities, as
metal prices have been under pressure for most of 2011 and 2012, largely, we suspect, due to concerns about a recession in Europe, slowing growth in key emerging
markets, especially China, and the sluggish pace of economic
recovery at home.
Unfortunately, over the next several years even if the steel
markets shift into a cyclical
recovery, we fear, and believe, that Commercial
Metals will simply shift back from the current strategy where management is supposedly focused on unwinding its disastrous investments, to the previous «strategy», where management travels the world investing in losing «growth» projects from Croatia to Australia.