Ya know....I've been one opposed to the tariffs and know that many in the administration follow my view, just not my advice <g. I contend that when a country dumps steel, we (steel companies) should buy it up and support the price. If they support turn the steel at a price higher than what it was dumped, they support themselves just like they do living in the difference between production costs and price of sales. When the price of oil drops below our production costs, our oil companies buy up all they can get of the cheap foreign oil.
Guess it remains to be seen how it plays out in its affect on STLD, I'd keep the stop at $16.75.
Thanks for posting the info, I had missed it this afternoon.
Sam
