07-30-2018, 03:47 AM
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So Fucking Banned
Industry Role:
Join Date: Aug 2013
Location: Princeton, New Jersey
Posts: 4,011
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Happy with tariffs': Steel industry emerges as trade war winner
Quote:
JPMorgan CEO: A trade war could reverse economic growth
Blockbuster profits: The trade war has cast a shadow over parts of Corporate America, but it is bringing a bit of good fortune to the steel industry.
President Donald Trump's metal tariffs have sent steel prices surging and sparked blockbuster profits for steel manufacturers.
Reliance Steel & Aluminum (RS) hauled in record sales, thanks to an 18% spike in prices. Nucor (NUE) recorded the best second quarter in its history. Its profit more than doubled.
"All in all, we're very happy with tariffs," Nucor CEO John Ferriola told analysts earlier this month.
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https://money.cnn.com/2018/07/29/inv...ade/index.html |
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