Savvy Trades and Investments

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Could be right on FRD. I saw their total hedging loss declined sequentially, so thought that was a positive. At least they're finally talking about it in the earnings PR. Hopefully there will be less hedging in the future. Although if steel prices continue to pull back some (like other commodities lately), maybe the hedges will look smarter.

I still think a chance STLD buys FRD down the road. They'll be neighbors at the new Sinton TX facility, which is coming online in April 2022. With current high steel prices and supply chain shortages everywhere, STLD acquiring FRD seems to make a lot of sense.