MT - Sleeping Giant
MT is typically the slower brother to that of Mr. X, but that's about to change.
Why?
- Reducing costs, plan to lay off about 20% of workforce in coming years
- >11B in Buyback planned
- Spot prices of steel have are at 7-10 year highs and continue to rise
- Demand will skyrocket once Biden's infrastructure stimulus revealed, and once economy opens back up
- Other commodity price increases also pushes the price of steel up
MT is the largest steel manufacturer, and unlike others, it is active in the whole value chain, from exploration and development to mining, concentration, pelletizing, rail transport and port operations. With operations that span Europe, the Americas, Africa and Asia.
It supplies over half of it's raw materials - allowing them to cost average down higher ore prices, thus expanding their margins on finished product.
Technically:
- 2 gaps to fill, 2nd gap brings us to $25.47 - I think those get filled next week.
- PT: $30-35 by end of April
Why?
- Reducing costs, plan to lay off about 20% of workforce in coming years
- >11B in Buyback planned
- Spot prices of steel have are at 7-10 year highs and continue to rise
- Demand will skyrocket once Biden's infrastructure stimulus revealed, and once economy opens back up
- Other commodity price increases also pushes the price of steel up
MT is the largest steel manufacturer, and unlike others, it is active in the whole value chain, from exploration and development to mining, concentration, pelletizing, rail transport and port operations. With operations that span Europe, the Americas, Africa and Asia.It supplies over half of it's raw materials - allowing them to cost average down higher ore prices, thus expanding their margins on finished product.
Technically:
- 2 gaps to fill, 2nd gap brings us to $25.47 - I think those get filled next week.
- PT: $30-35 by end of April
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