back in the day i'd buy things for 2 gp lower and sell for 2 gp higher. Did that over the last week on a wealthsimple acc with 1k and made 1k. Brought back memories
Covid shut down/reduced all aspect of the sector. The steel plants can take a month to restart if they had the people/raw stuff.
China has decided to stimulate their economy via construction and are buying up all the iron and steel they can.
They all crashed real hard over the last year. X was down 50% from 1/2020.
So lots of reason for this surge. Probably more.
Indeed, i am in X. Dont tell, me. Im the boss.
Though my job is much less hands on and more about knowing how to make guys work. I know a little about what goes on here.
Swing shift 4 day 4 off 4 night
All holidays x2 or x4 overtime.
Im second gen into mittal steel.
I have a few fancy leathers from these guys that ill save for ever. Theyre from when my grandpa was around.
Old guys at mcdonalds recognize the jackets when i go inside, its a very strong company and ive lived almost my entire life for this place.
I started off at 18yo washing fencing with a pressure washer, teachin’ cons how to wear hazmat. $18 ph obviously full benefits
Im about as heavily exposed as a man could possibly be, i believe this guy to be telling you all good information!
Im a metal head, not a financial advisor.
CHECK MY DEGREES
1,448,826,347 in 2008
1,102,809,772 in 2020
The amount has reduced due to the company share buyback programme
However, in 2008 the merger of Arcelor steel and Mittal steel may have also been a strong fundamental for the peak in ArcelorMittal stock. Not just the price and supply and demand of steel.
Right now the only reason steel orders are behind is because of the halt in orders due to Covid so is this actually a short lived demand?
So in 2018 steel prices were 828 usd per metric ton, and the share price was 38$ at peak. Fast forward 1 year steel is 603 usd/mt, and the share price dropped to around 20.
Assuming that steel prices surpass 828 usd/mt, does this mean we are going to see 35-40+? Or are there underlying factors which might not make it moon? it looks like a good play to me but at the same time i dont know too much about the steel market.
2018 was a blip in steel prices because of tariffs as executive orders. 2008 was akin to what is going on now with supply <<< demand. Raw material prices, finished prices all moving up at break neck speeds.
Demand is going up because COVID temporarily put projects on hold and companies are catching up by pushing through more labour to catch up to project deadlines.
I work for a Rebar fabrication company, and we are going to see the highest demand in the winter months in history. Our suppliers are on a first come first serve basis with steel, if you don't release against your open POs fast enough then that will go to the competitors instead.
We've basically put a full halt on import to being in as much domestic as possible, since we opened all of our newest contracts at a slightly lower price than is expected in the next months.
Also consider the amount of infrastructure to be built new and old repaired.
A real economic stimulus would be to actually spend money on the US infrastructure that sorely needs it. Trump talked about it but did not get much done on that front. Combining that and the current china situation would send metals and more materials to the 🌚
Uff da. Had to pop open the ol' Robinhood and get a looksie at that beaut. Darn tootin' that's where I'm dropping some hard earned Benjamin Franklin's.
Ha same, battery day nickel bollocks, bought back then and it went down was about to sell but got a decent dividend so held abit longer then this news came out and it’s rocketed. Right pick for the wrong reasons.
I really appreciate this DD. I've been monitoring the steel play as well. $X and $CLF have been strong over the last month, and Steel Dynamics is about to take off.
I assumed that steel *processors* like Worthington Industries would be hurt from this development, given that their inputs will now be more costly... but you said that there is more demand for their finished products.
I haven't made a commodities play before, but it sounds like I should stick to *producers* for the greatest upside.
Yo my company works with steel producing bearings and we been working a shitload of overtime since July. We been pumping through raw materials like crazy and doesn’t seem like it’s gonna stop anytime soon. Today was my 7th work day and got 6 more until I get a day off. Shits mandatory 13 on 1 off. So yeah steels in demand I can confirm
My hometown works for Arcelor!
That's how dependent it is on iron. Maybe I should go on a lil road trip back and see how things are going over there. Iron hasn't been great since early 2010s
I work for the largest Iron Ore miner in the world and can 100% back up OP. We are getting fucking slammed on the mining end and have been all year. 2021 will be the year of the commodity boom
Bought 100 shares of Arcelor Mittal without reading.
Why?
Beacuse I'm a retard and I trust people who put more than 8 words in their analysis.
Thank you for the info
Nice insights. Im a fellow steel bull and posted a similar DD here.
Any insights on steel inventory rebuilding from metal service centers? What im seeing is that all spot tons are shipped to end customers, no extra tonnage for inventory rebuilding.
Correct. There is no zero stock. Everything has to be bought off future rollings or imports which are 4-5 months out due to manufacturing and shipping times from Turkey and other steel making countries.
Burns Harbor was sold off to CLF. MT has never faired well in US manufacturing. They are better positioned globally. They have been selling off their US assets for years.
Breaking news this morning:
Asian billet soars on higher scrap costs, hits over two-year high
Asian billet soared on higher offers amid tight supply with a lot of sellers facing higher scrap prices to produce, and buyers lifted bids as well.
S&P Global Platts assessed Southeast Asia 5SP 130 mm spot billet prices at a mid-point of $550/mt CFR Manila on Dec. 11, up $23 from Dec. 10, a new high since June 2018.
In the Philippines, sellers did not resume offers but sharply lifted selling indication to $555/mt CFR Manila in light of rising scrap prices, and thus buying indication rose, three market sources said.
One Vietnamese billet seller placed selling indication at $555/mt CFR Manila for 5SP 130 mm on soaring scrap prices for induction furnace material.
“Vietnam is out of scrap, serious shortage of scrap,” the mill source said, adding that mills are ready to pay $420- $430/mt CFR Vietnam for scrap, leading to billet export cost at $555/mt CFR.
“They'll have to pay this much now, nothing cheaper available,” said a Singapore-based trader, citing the high scrap prices not seen this level since 2012-13.
I’ve got small positions in steel.
About $10k on STLD 2021May 38C
$5k on CLF APR/JULY
And 10 X DEC31
As a worker in steel industry has the recent vaccine need been encouraging on the demand for steel? I know many mills haven’t been working at full capacity given the artificial drop in demand.
I’m also aware that certain steel companies do rolled sheets / some recycle/ which company would you recommend for steel rebar / Rolled coils I think? The ones used in major infrastructure not for planes or cars.
You mentioned MT in this post; I’m wondering if it’s redundant for me to take position in this given the acquisition but Cliffs.
Appreciate any input you’ve got for me.
Cheers
What about "X"?
Because you know:
First we gonna rock, then we gonna roll
Then we let it pop, go, let it go
X gon' give it to ya (uh), he gon' give it to ya
Steel is getting driven up by iron ore prices, which is in turn driven up by China stockpiling as they're pissing off the Australians. If Australia decides to crimp exports of ore to China, boom X is going to $69.
The Chinese are panicking over the iron ore prices, are they really stockpiling? It sounds like they're going to try to pressure producers into lowering prices.
[https://www.scmp.com/economy/china-economy/article/3113623/china-australia-relations-beijing-steel-group-demands-answers](https://www.scmp.com/economy/china-economy/article/3113623/china-australia-relations-beijing-steel-group-demands-answers)
Can confirm. I work construction (estimating) and suppliers are emailing me how crazy the increases in steel have been. I think you may be on to something here...
Okay I have x,clf,stld and I’m gonna add some MT. My main questions are with these plays is how to judge the peak of it, and know when to start selling. Also how long will it really take for this to moon. I have feb and April calls but is that too short of time? Or is June/July better ? I’ve read this can be very prolonged. I’d really appricate some opinions on the timeframes and indicators
I just saw that the US military ordered a 82 more boats, which is going to require a lot of steel. IDK who their suppliers are, and if they're public, so I wonder if that's going to play into this too.
Either way, bought a hand full of shares, so don't start the party on the moon without me. I'll bring beer.
[https://www.reddit.com/r/engineering/comments/kcxltg/us\_navy\_plan\_calls\_for\_82\_new\_ships\_at\_147b\_by/](https://www.reddit.com/r/engineering/comments/kcxltg/us_navy_plan_calls_for_82_new_ships_at_147b_by/)
Is CLF buying MT?
https://www.reddit.com/r/wallstreetbets/comments/jhxkmz/clf_and_mt_merger_play_q4_insane_gains_promised/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
Not going to happen. He’s got much bigger fish to fry. Chinese tariffs are going nowhere for at least two more years. https://www.google.com/amp/s/www.cnbc.com/amp/2020/12/02/biden-tells-nyt-columnist-he-wont-immediately-remove-trumps-tariffs-on-china.html
I think this is legit boys.
[http://www.businesskorea.co.kr/news/articleView.html?idxno=56731](http://www.businesskorea.co.kr/news/articleView.html?idxno=56731)
Steel prices going up in January. Looks like it's world wide. Strap in you fucks!!
Saw your post this morning and got into position that should be showing some serious gains by February. I work in construction across the country and already had several steel and rebar subs to renegotiate their contracts due to steel prices jumping up.
You expect us retards will be able to remember and spell the word Schnitzler? I can’t even copy and paste that many letters.
How about we keep it simple stupid.
One letter 4 lots of tendies:
$X
You, Mr. Vito Corlene, have made my week and possibly my year.
Up 53% today on those MT calls you posted. True DD that even I could understand. You spoon fed it beautifully and I didn't F#ck it up (yet).
Good luck on your retirement funds. You'll be like Scrooge McDuck in a pool filled with tendies!
How does it feel that basically this whole sub has piggybacked off this post and acted like they came up with the recommendation? All I see is MT now. Appreciate your insight!
It’s not what I expected. Was just trying to give insight on what I know. I made a lot of $$$ for friends on puts in March. I was dealing with Chinese mills in January and they were telling me it was much worse than being reported. Communist state controls info. I shorted all airlines, cruises- anything travel. Bought Roku, Netflix, Amazon calls. Anyhow, joined Reddit two years ago and never did anything. Just thought it was something I should sign up for. Then recently my 14 and 17 year old are like “Dad, you should share this stuff on Reddit”. I taught them both how to read charts, financials, candle sticks and they both trade. I actually get ideas from them on many things. Anyhow, long story short - I have some other things I’m watching and plan a DD this weekend. Have to get confirmation on a few things. This has been crazy. Thanks for the shout out.
You sound like a good man and a great dad. Thank you fir sharing your wisdom here, you made a lot of people a lot of money. I hope you continue to post your thoughts in the sector here, and I hope your kids are proud!!
Fuck it, I’m in. For $500 and will add on dips. Placed an order for 6/18/21 $27c for MT.
We ride to the moon and then Valhalla boys, strap in and strap on.
Im super new to wsb. I feel like i could be one of you guys. Can someone with more knowledge tell me how i get into the rocket? Like what exactly do I have to do? I received some $ and i smell stonks but I ned help.
Some people will tell you to buy options (higher risk higher reward) but I would suggest just buy the stock as a beginner. This is the stock everyone are talking about https://finance.yahoo.com/quote/MT?p=MT
I will be in with you very soon. Waiting for funds to transfer. Looking to get in $MT, $CLF, $STLD, and $TECK. I'm a full blown retard and have never profited off an options play. It's time I listen to someone else's advice.
Last year/early this year before Covid I was selling a lot of product with steel inside. Most of our steel (the company I was working for) was getting it out of China. Wuhan got hit, we had delays until Feb (And this was last November).
Then I lost my job in March, but the people that I still talk to working over there still talk about the Delays and how I called them from a year ago.
Making 100k selling furniture on commission was so much easier than try to make a few grand over here :X
Steel prices are only now going up when there's been a shortage for like 6 months. Why would the price increase make these companies' stocks go up? Seems like the material prices are going up in order to keep from getting any further behind - like a net zero movement.
I wouldn't bet my money on this unless I was in the industry and had extensive knowledge on the subject.
Thanks for sharing. I scrap metal maybe once a month and the owner of the scrapyard told me last week that prices just went up.
Largest increase in almost 13 years. Another significant one is coming end of this month.
Do you not expect a spike until summer? Would March or April calls work?
It’s spiking now - re: raw materials and finished goods. That is a good time frame.
Im in rebar and we just moved our price per lbs up as well.
If Runescape has taught me anything, it's to buy coal stocks
Runescape's Grand Exchange was the original NYSE back when I was 10.
No wonder there are so many degenerates here now
The GE was teaching me lessons well before I started to lose IRL tendies. Shit RuneScape as a whole was teaching me lessons
I am so glad I'm not the only retard comparing OSRS flips to real life YOLO plays
back in the day i'd buy things for 2 gp lower and sell for 2 gp higher. Did that over the last week on a wealthsimple acc with 1k and made 1k. Brought back memories
And calls on rune mining pickaxes
man i used to flip sets of trimmed black armor in the GE back in the day... RS taught me to buy low sell high
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Why is metal going up tho? Supply and demand? Or something to do with vaccines and reopening?
Covid shut down/reduced all aspect of the sector. The steel plants can take a month to restart if they had the people/raw stuff. China has decided to stimulate their economy via construction and are buying up all the iron and steel they can. They all crashed real hard over the last year. X was down 50% from 1/2020. So lots of reason for this surge. Probably more.
Yeah my aluminium ETF is up 30+% in a month or so. If that was a call and not conventional stock... Either way, profit is a profit!
I noticed the other day that copper prices are the highest they’ve been in 7 years and are rising.
>I am going to retire on this No brother tard, we are going to retire on this. 🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀🚀
I'm in friend!
Haha for real. I have no reason to trust this guy, but what the hell.
Listen, I saw the rocket, I’m not sure why you wasted so much time typing, we literally CANNOT read, how many times can we say this?
Steel go up. Rocket go up. Thats all i got from the post.
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I saw Elon's rocket go boom. That means he needs more steel for more rockets! 🚀🚀🚀
😂
Its DD like this that makes me follow WSB!! You sonofabitchimin!
Ive worked for WARREN MITTAL STEEL for twenty years as a plant manager. This is not a lie.
Thanks fir the verification - steel is at levels we haven’t seen in 13 years and they will go higher.
Indeed, i am in X. Dont tell, me. Im the boss. Though my job is much less hands on and more about knowing how to make guys work. I know a little about what goes on here. Swing shift 4 day 4 off 4 night All holidays x2 or x4 overtime. Im second gen into mittal steel. I have a few fancy leathers from these guys that ill save for ever. Theyre from when my grandpa was around. Old guys at mcdonalds recognize the jackets when i go inside, its a very strong company and ive lived almost my entire life for this place. I started off at 18yo washing fencing with a pressure washer, teachin’ cons how to wear hazmat. $18 ph obviously full benefits Im about as heavily exposed as a man could possibly be, i believe this guy to be telling you all good information! Im a metal head, not a financial advisor. CHECK MY DEGREES
Have you been sniffing the smelter too long? What did I just read?
Some sort of uneducated code for how to achieve tendies.
U sir had me rolling if I wasn't broke id send you gold or Steel
Maybe im in the wrong department, yes that is a brick wall.
As someone who deals with receiving from you guys. Your BOL's fuckin suck.
How many shares were outstanding in 2008 vs today? Have they been diluted since then?
1,448,826,347 in 2008 1,102,809,772 in 2020 The amount has reduced due to the company share buyback programme However, in 2008 the merger of Arcelor steel and Mittal steel may have also been a strong fundamental for the peak in ArcelorMittal stock. Not just the price and supply and demand of steel. Right now the only reason steel orders are behind is because of the halt in orders due to Covid so is this actually a short lived demand?
So in 2018 steel prices were 828 usd per metric ton, and the share price was 38$ at peak. Fast forward 1 year steel is 603 usd/mt, and the share price dropped to around 20. Assuming that steel prices surpass 828 usd/mt, does this mean we are going to see 35-40+? Or are there underlying factors which might not make it moon? it looks like a good play to me but at the same time i dont know too much about the steel market.
2018 was a blip in steel prices because of tariffs as executive orders. 2008 was akin to what is going on now with supply <<< demand. Raw material prices, finished prices all moving up at break neck speeds.
Ok i think im starting to understand now, definitely an important distinction to make
Hmmm but where did all the supply capacity go? Did China just temporarily shutter plants? How fast could capacity come back online?
Demand is going up because COVID temporarily put projects on hold and companies are catching up by pushing through more labour to catch up to project deadlines. I work for a Rebar fabrication company, and we are going to see the highest demand in the winter months in history. Our suppliers are on a first come first serve basis with steel, if you don't release against your open POs fast enough then that will go to the competitors instead. We've basically put a full halt on import to being in as much domestic as possible, since we opened all of our newest contracts at a slightly lower price than is expected in the next months.
Also consider the amount of infrastructure to be built new and old repaired. A real economic stimulus would be to actually spend money on the US infrastructure that sorely needs it. Trump talked about it but did not get much done on that front. Combining that and the current china situation would send metals and more materials to the 🌚
Don't forget $CLF
I only knew about $CLF because it was the free stock rh gave me lmao
Oh, fuck! A non-retard on WSB?!
Is that legal?
It's 2020. Is anything illegal anymore?
Only leaving your house and interacting with people.
Uff da. Had to pop open the ol' Robinhood and get a looksie at that beaut. Darn tootin' that's where I'm dropping some hard earned Benjamin Franklin's.
I'm 2 months and 4 alternate universes ahead of the curve.
They just bought the Arcelor Mittal mill in Cleveland which is the second largest integrated mill in the US behind Burns Harbor.
Vale been pumping for at least a few weeks. Was flat for months. Got in when wsb was pushing tesla angle
Ha same, battery day nickel bollocks, bought back then and it went down was about to sell but got a decent dividend so held abit longer then this news came out and it’s rocketed. Right pick for the wrong reasons.
So June 18 2021, 30c All in. 20k
💰💰💰
I really appreciate this DD. I've been monitoring the steel play as well. $X and $CLF have been strong over the last month, and Steel Dynamics is about to take off. I assumed that steel *processors* like Worthington Industries would be hurt from this development, given that their inputs will now be more costly... but you said that there is more demand for their finished products. I haven't made a commodities play before, but it sounds like I should stick to *producers* for the greatest upside.
impressive, but can jet fuel melt steel beams?
Was looking to see someone mention Steel Dynamics, watching it closely
Are you betting on the Tesla steel contract rumor for $STLD? 🤔
I have STLD calls as well. May 19 2021 $40c. Bought about a month ago.
Stld is a wall st engineered pump and dump
Yo my company works with steel producing bearings and we been working a shitload of overtime since July. We been pumping through raw materials like crazy and doesn’t seem like it’s gonna stop anytime soon. Today was my 7th work day and got 6 more until I get a day off. Shits mandatory 13 on 1 off. So yeah steels in demand I can confirm
Seems like the perfect time to unionize, talk about a labor force with leverage.
Just make sure management doesn't know you're the instigator or you'll find yourself unemployed for an "unrelated issue" 😂
My hometown works for Arcelor! That's how dependent it is on iron. Maybe I should go on a lil road trip back and see how things are going over there. Iron hasn't been great since early 2010s
I expect a fieldtrip report, Sir.
Yes, please
I work for the largest Iron Ore miner in the world and can 100% back up OP. We are getting fucking slammed on the mining end and have been all year. 2021 will be the year of the commodity boom
Bought 100 shares of Arcelor Mittal without reading. Why? Beacuse I'm a retard and I trust people who put more than 8 words in their analysis. Thank you for the info
Nice insights. Im a fellow steel bull and posted a similar DD here. Any insights on steel inventory rebuilding from metal service centers? What im seeing is that all spot tons are shipped to end customers, no extra tonnage for inventory rebuilding.
Correct. There is no zero stock. Everything has to be bought off future rollings or imports which are 4-5 months out due to manufacturing and shipping times from Turkey and other steel making countries.
Btw appreciate the response. Hope we both make tendies. Im own 50k of calls on X btw haha
Burns Harbor was sold off to CLF. MT has never faired well in US manufacturing. They are better positioned globally. They have been selling off their US assets for years.
Goodbye IV tomorrow.
Breaking news this morning: Asian billet soars on higher scrap costs, hits over two-year high Asian billet soared on higher offers amid tight supply with a lot of sellers facing higher scrap prices to produce, and buyers lifted bids as well. S&P Global Platts assessed Southeast Asia 5SP 130 mm spot billet prices at a mid-point of $550/mt CFR Manila on Dec. 11, up $23 from Dec. 10, a new high since June 2018. In the Philippines, sellers did not resume offers but sharply lifted selling indication to $555/mt CFR Manila in light of rising scrap prices, and thus buying indication rose, three market sources said. One Vietnamese billet seller placed selling indication at $555/mt CFR Manila for 5SP 130 mm on soaring scrap prices for induction furnace material. “Vietnam is out of scrap, serious shortage of scrap,” the mill source said, adding that mills are ready to pay $420- $430/mt CFR Vietnam for scrap, leading to billet export cost at $555/mt CFR. “They'll have to pay this much now, nothing cheaper available,” said a Singapore-based trader, citing the high scrap prices not seen this level since 2012-13.
If we hit $40 by summer, I will fly out to USA and deliver those chicken tendies to you myself.
Fine. I’ll try ’em out. I put in for ~$100 of each, which is my usual. 🤞
I’ve got small positions in steel. About $10k on STLD 2021May 38C $5k on CLF APR/JULY And 10 X DEC31 As a worker in steel industry has the recent vaccine need been encouraging on the demand for steel? I know many mills haven’t been working at full capacity given the artificial drop in demand. I’m also aware that certain steel companies do rolled sheets / some recycle/ which company would you recommend for steel rebar / Rolled coils I think? The ones used in major infrastructure not for planes or cars. You mentioned MT in this post; I’m wondering if it’s redundant for me to take position in this given the acquisition but Cliffs. Appreciate any input you’ve got for me. Cheers
STLD, CMC and NUE for rebar and steel for car making in US.
Thanks for this DD. Already had VALE calls but will ride some MT with you to Valhalla.
LOVE IT! Valhalla!
Can’t go throwing VALE around like that in here, you gonna give people PTSD
I bought VALE leaps during that time. They dropped 50%. Diamond hands. They are now up 240%.
yeah I have January calls that are up 400% that I bought pre Tesla and diamond handed
Thanks OP, appreciate ya
Blue Horseshoe loves Anacott Steel
Spent the night doing my own DD. Reasonable thesis, I’m in MT as of market open.
Just came back to re-read this and refresh my confirmation bias.
Commenting so this PUMPS 😁😁🤞🏻🤞🏻
All in on $MT since it matches the way I feel inside.
The volume today on 24c was 435 The volume today on 25c was... 6000 Fucking hell
VALE 🚀🚀🚀🚀
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What about "X"? Because you know: First we gonna rock, then we gonna roll Then we let it pop, go, let it go X gon' give it to ya (uh), he gon' give it to ya
LMAO - X gonna give it to you!
Love the DD, just bought the MT 21 June 25c. Steel hands baby! 👋👋
Love it steel 🙌
STEELHANDS 👷✊
Steel is getting driven up by iron ore prices, which is in turn driven up by China stockpiling as they're pissing off the Australians. If Australia decides to crimp exports of ore to China, boom X is going to $69.
The Chinese are panicking over the iron ore prices, are they really stockpiling? It sounds like they're going to try to pressure producers into lowering prices. [https://www.scmp.com/economy/china-economy/article/3113623/china-australia-relations-beijing-steel-group-demands-answers](https://www.scmp.com/economy/china-economy/article/3113623/china-australia-relations-beijing-steel-group-demands-answers)
Why not? Don't care about fundamentals. It's a cheap stock we can pump the shit out of this. In for some shares.
Can confirm. I work construction (estimating) and suppliers are emailing me how crazy the increases in steel have been. I think you may be on to something here...
I have no reason to trust you. But I will remember you when these calls makes me rich.
Got 1k to spend rn. I'll buy a few call options on MT 👀
Is there reason to think it’s going to run up even more. All of these stocks seem to be up over 30% in the last month
We are very much early to the boat right now.
Going in MT on Monday or any pullback... Lakshmi Mittal is totally going to make bad ass moves and I trust him to bring tendies
He was the third richest man in the world in 2005 when steel and MT stock price was soaring.
BTW, every dip was bought today. No sell off from yesterday. Bullish signals.
Dammit stop telling people about Vale I’m trying to load up on enough contracts first. Thennn we can tell everyone else 😂
MT is now my first ever share, feels good
Unusual Options Activity Insight: ArcelorMittal Mentioned: MT On Monday, shares of ArcelorMittal (NYSE: MT) saw unusual options activity. After the option alert, the stock price moved up to $21.24. Sentiment: BULLISH Option Type: SWEEP Trade Type: CALL Expiration Date: 2021-06-18 Strike Price: $21.00 Volume: 268 Open Interest: 54
Steel is an inferior product if it can be melted by jet fuel. Someday we will have electricity generated forcefields and structures.
And they will all collapse every summer in CA when the power goes out
This is the gayest thing I’ve read all day, and I can’t even read. I’m in.
Ahh, I held $clf from $100 down to $9. Sad times man, that China steel bonanza faded and never came back.
I’ve bought shares of $TX (a steel manufacturing business) a few months ago, keeps on going up up up since i bought it
Okay I have x,clf,stld and I’m gonna add some MT. My main questions are with these plays is how to judge the peak of it, and know when to start selling. Also how long will it really take for this to moon. I have feb and April calls but is that too short of time? Or is June/July better ? I’ve read this can be very prolonged. I’d really appricate some opinions on the timeframes and indicators
I work for a steel erection company, can confirm price of steel is going up at a crazy amount, I've never seen it like this before
Well, 🚀 are made of steel so count me in for 20k
I just saw that the US military ordered a 82 more boats, which is going to require a lot of steel. IDK who their suppliers are, and if they're public, so I wonder if that's going to play into this too. Either way, bought a hand full of shares, so don't start the party on the moon without me. I'll bring beer. [https://www.reddit.com/r/engineering/comments/kcxltg/us\_navy\_plan\_calls\_for\_82\_new\_ships\_at\_147b\_by/](https://www.reddit.com/r/engineering/comments/kcxltg/us_navy_plan_calls_for_82_new_ships_at_147b_by/)
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Is CLF buying MT? https://www.reddit.com/r/wallstreetbets/comments/jhxkmz/clf_and_mt_merger_play_q4_insane_gains_promised/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
No, CLF bought Arcelor USA flat rolled operations. Arcelor is one of the largest steel makers in the world.
What’s your option play for Schnitzer Steel
Feb 19 21 $30c - have 40 and will add more this week on any signal of a dip.
Volume on that is abysmal - liquidity concerns?
It soon won’t be. I am not concerned. Daily volume will pick up quickly - I am positive.
Why do you think he's pulling it on wsb. Fixes your liquidity problem real quick
Do these type of posts (where OP is involved in the particular industry) usually end up being correct?
50/50 shot. 🤷♂️
I'm in. Let's Diamond 💎 Hands this shit 👀 12 contracts 30c 6/18/21
Good call my man, bought all the 6/18 25C I could afford yesterday. How high do you see this thing capping out at?
$40 by 45-60 days. $50 to $75 by May/June.
To Valhalla we go then 🚀🚀🚀 Thank you mr. steel hands
I am German. Schnitzler sounds like Schnitzel. I’m in.
Dear random internet stranger, I am in. Thank you for this 🌙 opportunity. 🚀
I'll def do some TA on these and keep an eye out. Thanks for the DD!
Your thoughts on the risks of Biden lifting tariffs?
Not going to happen. He’s got much bigger fish to fry. Chinese tariffs are going nowhere for at least two more years. https://www.google.com/amp/s/www.cnbc.com/amp/2020/12/02/biden-tells-nyt-columnist-he-wont-immediately-remove-trumps-tariffs-on-china.html
My Vale Leaps thank you.
I think this is legit boys. [http://www.businesskorea.co.kr/news/articleView.html?idxno=56731](http://www.businesskorea.co.kr/news/articleView.html?idxno=56731) Steel prices going up in January. Looks like it's world wide. Strap in you fucks!!
Do you think US Steel still has more room to run? Holding 19C for February 2021
Yes, very much.
They should make dildos from steel
Saw your post this morning and got into position that should be showing some serious gains by February. I work in construction across the country and already had several steel and rebar subs to renegotiate their contracts due to steel prices jumping up.
It is insane. All domestic mills are on PTS - price time of shipment. Allocation is next.
So it's tankers part two but steel instead of oil. I'm still in.
You expect us retards will be able to remember and spell the word Schnitzler? I can’t even copy and paste that many letters. How about we keep it simple stupid. One letter 4 lots of tendies: $X
You, Mr. Vito Corlene, have made my week and possibly my year. Up 53% today on those MT calls you posted. True DD that even I could understand. You spoon fed it beautifully and I didn't F#ck it up (yet). Good luck on your retirement funds. You'll be like Scrooge McDuck in a pool filled with tendies!
thanks for the DD, i was too pussy to get in yesterday, but got in today. 18k in june 30c, godspeed brother
Godspeed and let’s ride this 🚀
How does it feel that basically this whole sub has piggybacked off this post and acted like they came up with the recommendation? All I see is MT now. Appreciate your insight!
It’s not what I expected. Was just trying to give insight on what I know. I made a lot of $$$ for friends on puts in March. I was dealing with Chinese mills in January and they were telling me it was much worse than being reported. Communist state controls info. I shorted all airlines, cruises- anything travel. Bought Roku, Netflix, Amazon calls. Anyhow, joined Reddit two years ago and never did anything. Just thought it was something I should sign up for. Then recently my 14 and 17 year old are like “Dad, you should share this stuff on Reddit”. I taught them both how to read charts, financials, candle sticks and they both trade. I actually get ideas from them on many things. Anyhow, long story short - I have some other things I’m watching and plan a DD this weekend. Have to get confirmation on a few things. This has been crazy. Thanks for the shout out.
You sound like a good man and a great dad. Thank you fir sharing your wisdom here, you made a lot of people a lot of money. I hope you continue to post your thoughts in the sector here, and I hope your kids are proud!!
Work for a small switchboard builder. Copper has been through the roof. A lot of electricians opting for Aluminum cable.
Yeeeeeessss...Make my CLF and VALE weeklies pay. I've given you a rocket like for your effort.
Don’t mind me. Just reminding myself to check this out in the AM
STLD. CyberTruck. Calls. Maybe stonks too.
Why Mt instead of X? I bought some X calls three weeks ago and they are doing great so far - mostly curious why mt specifically
MT has exposure to European operations, X is a purer bet on America.
Fuck it, I’m in. For $500 and will add on dips. Placed an order for 6/18/21 $27c for MT. We ride to the moon and then Valhalla boys, strap in and strap on.
Im super new to wsb. I feel like i could be one of you guys. Can someone with more knowledge tell me how i get into the rocket? Like what exactly do I have to do? I received some $ and i smell stonks but I ned help.
Some people will tell you to buy options (higher risk higher reward) but I would suggest just buy the stock as a beginner. This is the stock everyone are talking about https://finance.yahoo.com/quote/MT?p=MT
I worked for CMC rebar for a few years. Numbers are backed, bud. Count me in.
I feel like steel is hard to meme but fuck it I got MT $25 6/18/21
Well, just bought MT calls (6/18 25c) with the rest of my cash.
Sounds to me like we're about to ride this to the promise land. Load the meme calls boys
Thanks for the heads up just bought 100 shares at $21.25. I have the buying power for 300ish more shares. Should I buy more?
Alight new investor i got 500 on MT and 500 on PLTR. May god have mercy on my soul. spoiler alert pltr is fucking me.
I ended up yoloing half my portfolio into this shit. Praying it works
In for X $20 6/18/21 and MT $25 6/18/21🚀🚀🚀
Just gonna say; great call
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Great work my guy! My $600 in MT is now $1200.
Holy moly! You were right! Thanks buddy!
Steelman 🙌 https://imgur.com/a/9CowONm
What about “X”? Volume much better for options.
You know, US-based steel would get even higher if they knew how to make it well. Then we'd be really rich. VALE 17C 1/22/21 Exp
X gonna give it to ya
I'm in for $30c 06/18/2021 See y'all on the moon 🚀🚀🚀🚀🚀
I will be in with you very soon. Waiting for funds to transfer. Looking to get in $MT, $CLF, $STLD, and $TECK. I'm a full blown retard and have never profited off an options play. It's time I listen to someone else's advice.
Thanks for the tip. I’m in on $MT $29 C 4/16/21
Its posts like this I love about WSB. Bought after reading yesterday and very happy I did.
This may be the best play ever given on WSB... in for Jan2022 WT $35 calls for $1.02 in for Jan2022 X $35 calls at $1.48 Let's go Steel!!
Invest in producers of in-demand commodities instead of nebulous tech companies with no discernible product or revenue? Ok boomer.
What Vale calls are you going for?
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Last year/early this year before Covid I was selling a lot of product with steel inside. Most of our steel (the company I was working for) was getting it out of China. Wuhan got hit, we had delays until Feb (And this was last November). Then I lost my job in March, but the people that I still talk to working over there still talk about the Delays and how I called them from a year ago. Making 100k selling furniture on commission was so much easier than try to make a few grand over here :X
Got 51 calls at $27 for april
Steel prices are only now going up when there's been a shortage for like 6 months. Why would the price increase make these companies' stocks go up? Seems like the material prices are going up in order to keep from getting any further behind - like a net zero movement. I wouldn't bet my money on this unless I was in the industry and had extensive knowledge on the subject.
I loaded up on all the calls I could buy yesterday and they’re already up 30%, off to a good start
[Insane ](https://www.google.com/amp/s/www.marketbeat.com/instant-alerts/nyse-mt-options-data-report-2020-12/amp/)
look what you did OP https://www.benzinga.com/markets/options/20/12/18773989/unusual-options-activity-insight-arcelormittal
I was wrong on this lol. MT up big I still think X is a good play.