Steel Dynamics Inc.  (STLD) Trade Now »     Rate STLD  -  Discuss STLD  -  Add to Watch List        

Steel Dynamics, Inc. (STLD) posted record second-quarter earnings of $1.05 per share in late July, citing strong shipments and higher selling values as catalysts. The earnings result more than doubled last year’s 51 cents and exceeded the consensus estimate by 13%. The company also upped its full-year earnings guidance as did Wall Street.

Company Description

Filed under: Good news, U.S. Steel (X), Nucor Corp (NUE), Technical Analysis, Stocks to Buy

Steel Dynamics (NASDAQ: STLD) is the fifth largest producer of carbon steel products in the United States. The firm operates five mid-western electric-furnace mini-mills, producing merchant bars, engineered bar products, wide-flange beams, rails, and flat-rolled steels. It also runs six fabrication facilities, making joists, girders, and decking for non-residential construction projects. Steel scrap is processed at 42 locations in the eastern U.S. and Canada. Nucor (NYSE: NUE) and U. S. Steel (NYSE: X

Perhaps it’s time to put on the contrarian hat and revisit metals and mining stocks. Aside from the macro tide that could be turning against the sector in the long-run, the near term is looking more and more like a blow-off top could be underway. The group has had the wind at its back with a declining dollar and surging demand in emerging markets, but with a coordinated defense from further declines in the Dollar underway by the Treasury and Fed, that tailwind has been neutralized.

Furthermore, record breaking prices after a parabolic run in these stocks since the start of 2008 is leading to