Originally Posted by kinglin
But has steel demand fallen off that much? I can't imagine a commodity stock going so low.
I work in a construction trade, I work with metals, I do sheet metal.
I work along side IRON WORKERS, we both aren't working right now, they aren't building anything, no new buildings are going up, no new casinos in Las Vegas, steel is not selling right now.
This is why this stock is down, because no one needs or is using steel right now.
Just like furniture stocks, who wants to buy new furniture when it is hard even paying house payments?
This is why furniture stocks are down.
And new home construction stocks.
Look outside man, nothing is being built, our economy is crap.