With the increasing prices on iron and decreasing prices on steel i still expect a downturn for SSAB until the first quarter of 2020. Part-time personnel are being reduced and a furnace got shut down recently. I expect a turn in the middle of the first quarter of 2020, it isnt ogre yet (shrek is life).
After years of battering, the stock found a low >1 year ago.
Most of 2017 has seen sideways consolidation with the recent forming of a Daily pennant.
There are sector fundamentals behind this too, with recently introduced EU tariffs on steel, which has all but dried up Chinese imports. Thus placing SSAB and other solid European steel producers in a far stronger...
