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DewDiligence

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DewDiligence

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Re: DewDiligence post# 5816

Wednesday, 10/10/2012 2:16:52 PM

Wednesday, October 10, 2012 2:16:52 PM

Post# of 29342
The long-term bear case for iron-ore based on reuse of scrap metal:

http://seekingalpha.com/article/913301-iron-ore-s-other-problem

The SA blogger presents what sounds like a compelling argument; however, he fails to mention that steel made from scrap rather than virgin iron ore is unsuitable for many applications.

Thus, while I agree with the blogger that the % of worldwide steel produced from scrap will gradually increase, I strongly disagree with the author’s contention that the increased use of scrap will end the growing demand for iron ore driven by The Global Demographic Tailwind. Comments welcome.

“The efficient-market hypothesis may be
the foremost piece of B.S. ever promulgated
in any area of human knowledge!”

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