SOURCE: Rothman Research

Rothman Research

July 13, 2010 08:53 ET

Metal Stocks in News

JOHANNESBURG, SOUTH AFRICA--(Marketwire - July 13, 2010) - www.RothmanResearch.com provides an overview on the current conditions influencing the price of base metals and its impact on metal stocks. Sign up now to access those reports.

China's economic growth has been a major driver of the global economic progression. However, there is clearly a sense of growing uncertainty brewing in the metal industry worldwide with the China factor continuing to play a pivotal role in the wrong direction. So far, the political signs in China indicate that the government is working around the clock to control the housing sector's bubble which many believe is on the verge of bursting. And when this occurs demand for metal is anticipated to slump abruptly and this would be grievous for metal miners which have been trading in the red in its last session. The SPDR S&P Metals and Mining, which includes United States Steel Corp. (NYSE: X) closed at $47.46, down 3.12% for the day. www.rothmanresearch.com provides technical analysis and free downloadable research reports on United States Steel Corp. by signing up now at
http://www.rothmanresearch.com/article/x/23673/Jul-13-2010.html

www.rothmanresearch.com is a source for investors seeking free information on Steel & Iron Stocks; investors and shareholders of Arcelor Mittal, United States Steel Corp., AK Steel Holding Corporation and Nucor Corporation are encouraged to sign up for free at http://www.rothmanresearch.com/index.php?id=6&name=Register.

During the recession most countries globally were forced to curb their demand for metal with the exception of China which saw its housing, manufacturing and auto industries' expansion propel demand for metal to new levels. However, it would seem that the run hit a wall for miners which are now looking at a decline in the price of metal as Chinese demand for base metal is in freefall mode. The fall in steel prices is more apparent when considering the drop in the Baltic Dry Index (BDI). The BDI saw its 32nd consecutive day of decline on Monday which makes this the greatest uninterrupted fall in close to nine years. www.rothmanresearch.com provides technical analysis and free downloadable research reports on the steel & iron stocks by signing up now at
http://www.rothmanresearch.com/index.php?id=6&name=Register.

The Australian Stock Market, which is among the first to open, was already trading in negative territories as weak points among mining and gold stocks continue to hurt investor sentiment. It remains to be seemed if this trend will repeat itself on the American exchanges today.

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