Alloy Steel Inc. (fka AYSI)

[DaveinHackensack]

Bearish article on metals in today's FT: "Mining and metals prepare for lean times" ( http://www.ft.com/cms/s/0/890e4f94-9a51-11dd-bfe2-000077b07658.html ). Excerpt:

"The mining and metal industry is bracing for months of price weakness as slowing demand in the US, Europe, Japan and some emerging markets, including China, is likely to push commodities such as copper into surplus.

At the London Metal Exchange annual dinner last night, the premier gathering of the industry in London, the mood among traders, bankers and mining executives was gloomy, particularly with regard to the short term.

"With the likelihood of a global recession rising, industrial metals prices will face further downward pressure," said a report by Francisco Blanch of Merrill Lynch.

Tight credit is further dampening demand for raw materials, as traders are unable to secure credit lines to move their commodities."