September 16, 2008
NOTE: There’s an updated (for Q4 2008), revised (in Q1 2009) & expanded version of this presentation here: Here’s a shortened version of a presentation I made last week to the MSCI Economic Summit: Forecast 2009 meeting in Chicago. It’s a great event if you get the chance to go. The essence of what I [...]
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June 18, 2008
It used to be the case that minimills (scrap buyers) and integrated mills (iron ore buyers) had very different cost structures. Integrated steel producers’ costs were relatively fixed because iron ore and coking coal were sold on an annual contract basis and did not change much year to year. Scrap prices on the other hand, [...]
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