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Re: None

Wednesday, 05/20/2009 12:40:47 PM

Wednesday, May 20, 2009 12:40:47 PM

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Nucor just enacted a price hike of 20 per ton for the same products these guys make. The question is will it stick. The end users are laughing at this for several reasons, one is that they just made import steel more attractive.

Will GNA follow suit? Virtually no current demand for their products in comparison to past years, and things are going to get uglier for these steel makers yet. Many are closing up, shuttering furnaces etc.

Good luck on this one, i think the downside potential is huge on this next run of financials.

We had a GNA distributor here that recently vacated and closed up shop.
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