Steel


I always look at economics of the business
A bird in the hand is worth 2 in the bush and the question is how sure are you there are 2 in the bush and how long you have to wait to get them out
1. How many birds are in the bush?
2. When you gonna get them out?
3. How sure are you?
If interest rates are 15% roughly you've got 2 birds out of bush in 5 years equal to bird in the hand but if interest rates are 3% and you can get 2 birds out in 20 years it still makes sense to give up the bird in the hand because it's all gets back to discounting an interest rate. Often you don't know not only how many birds in the bush but in the case of internet companies there were not any birds in the bush but they still take the bird that you give them from the hand
Loop through all the subindustries and try to understand how many birds are in the bush from the perspective of economics of the business

Revenue

200020012002200320042005200620072008200920102011201220132014201520162017201820192020
Display GDP grow per year to compare with Revenue Change
1. POSCO PKX10,8839,98912,10114,92423,16026,04127,78733,77633,07731,67253,63359,50759,82158,6260.0558,192,34553,083,51360,655,10064,977,77764,366,848
2. Mechel PAO MTL2,0503,6363,8054,3986,6849,9515,7549,74612,54611,2758,5761.9253,141276,009299,113312,574296,567
3. ArcelorMittal MT5,0974,4864,8895,44122,19728,13258,870105,216124,93665,11078,02593,97384,21379,44079,28263,57856,79168,67976,03370,615
4. Gerdau S.A GGB2,6642,5472,5884,5316,9528,89411,84415,81518,07915,23118,87619,00818,54916,88516,01743,58137,65236,91846,15939,644
5. Vale S.A VALE4,8924,5744,1466,71610,37414,56421,22236,40530,43227,83150,04255,40145,66942,99037,53978,05727,48833,96736,57537,570
6. Grupo Simec, S.A.B. de C.V SIM2292082032485101,2122,1012,2082,5441,4731,9842,0982,2771,8618.3624,47627,51628,70035,67834,171
7. Companhia Siderúrgica Nacional SID1,9461,7161,8422,5483,0843,8053,8465,5177,1875,0148,6898,8698,2527,3332,28415,26217,14918,52522,96925,436
8. Nucor Corporation NUE4,5864,1394,8026,26611,37712,70114,75116,59323,66311,19015,84520,02419,42919,05221,10516,43916,20820,25225,06722,589
9. United States Steel Corporation X6,0906,3866,9499,32813,96914,03915,71516,87323,75411,04817,37419,88419,32817,42417,50711,57410,26112,25014,17812,937
10. Reliance Steel & Aluminum Co RS1,7271,6571,7451,8832,9433,3675,7437,2568,7195,3186,3138,1358,4429,22410,4529,3518,6139,72111,53510,974
11. Steel Dynamics, Inc STLD6936078649872,1452,1853,2394,3858,0813,9596,3017,9987,2907,3738,7567,5947,7779,53911,82210,465
12. Ternium S.A TX1,0571,5994,4546,5698,1848,4654,9597,3829,1578,6088,5308,7267,8777,2249,70011,45510,193
13. Sims Limited SMSMY2,6814,5737,3306,9566,3209,4949,2496,5926,7214,8784,6525,0796,4486,6404,909
14. Commercial Metals Company CMC2,6612,4412,4422,8764,7676,5737,5568,32910,4276,7936,3067,9187,8286,8907,0405,9894,6114,5704,6445,8295,476
15. Ryerson Holding Corporation RYI2,8622,2442,0972,1893,3025,7815,9096,0025,3103,0663,8964,7304,0253,4603,6223,1672,8603,3654,4084,522
16. Allegheny Technologies Incorporated ATI2,4602,1281,9081,9372,7333,5404,9375,4535,3103,0554,0485,1835,0324,0444,2233,7203,1353,5254,0474,123
17. Worthington Industries, Inc WOR1,9631,8261,7452,2202,3793,0792,8972,9723,0672,6311,9432,4432,5352,6123,1263,3842,8203,0143,5823,7603,059
18. Carpenter Technology Corporation CRS1,0961,3249778711,0171,3141,5681,9451,9541,3621,1991,6752,0292,2722,1732,2271,8131,7942,1582,3802,181
19. Schnitzer Steel Industries, Inc SCHN3342923514976888531,8552,5723,6421,9002,3013,4643,3442,6232,5451,9171,3531,6911.952,1341,712
20. Cleveland-Cliffs Inc CLF4303745998361,2181,7531,9332,2903,6312,3474,6826,7945,8735,6914,6242,0132,1092,3302,3321,990
21. Stelco Holdings Inc STZHF1,8931,3471,3021,6222,4601,841
22. SunCoke Energy, Inc SXC1,1261,3171,5391,9141,6481,4731,3631,2231,3321,4511,600
23. Olympic Steel, Inc ZEUS5204164594738949399811,0291,2275238051,2621,3841,2631,4361,1761,0551,3311,7151,579
24. Warrior Met Coal, Inc HCC5453691,1691,3781,268
25. TimkenSteel Corporation TMST001,9571,7291,3811,6741,1068701,3291,6111,209
26. Webco Industries, Inc WEBC1411521561762135274144094143303855005490
27. Haynes International, Inc HAYN230252226178325434560637439382543580483455488406395435490381
28. Ampco-Pittsburgh Corporation AP228219212180203247302347395299327345293281273238332432419398
29. Synalloy Corporation SYNL114918599100129152178192104151171198221200175139201281305
30. Universal Stainless & Alloy Products, Inc USAP88917169121170204230235125189253251181206181154203256243
31. Corsa Coal Corp CRSXF7410214112997264266231
32. Ramaco Resources, Inc METC005.2261228230
33. Tree Island Steel Ltd TWIRF231319289233265265157133147147144158231231235235200
34. Friedman Industries, Incorporated FRD12012098106116188182200179209651321621361161088278121187142
35. Labrador Iron Ore Royalty Corporation LIFZF302628313168716813473165159125131101101115158130177
36. Ossen Innovation Co., Ltd OSN83101117119122114124118117132136139
37. ADF Group Inc ADFJF1512233222021004323465980625548428461981031801350
38. ZK International Group Co., Ltd ZKIN3537455564
39. Mesabi Trust MSB5.325.713.935.057.2213.542217.8318.823513.2333343222269.7210.74354732
40. Plaintree Systems Inc PTEEF3.271.260.840.890.20.291.451.871.2616.979.0511.3812.7613.5618.8315.2313.412.8419.011717.36
41. Century Global Commodities Corporation CEUMF0000000.091.433.366.080
42. Oceanic Iron Ore Corp FEOVF2.381.821.970.020.010000000000000000
43. Black Iron Inc BKIRF000000000
44. New Millennium Iron Corp NWLNF001.680.750.22000.34000
45. Labrador Iron Mines Holdings Limited LBRMF00000009478000000
46. ATC Venture Group Inc ATCV13.3113.3613.892117.1816.4614.2117.5110.283.12.212.21
47. Alderon Iron Ore Corp AXXDF0000000000
48. Stamford Industrial Group, Inc SIDGQ3710.165.242.580.936586111143
49. Alloy Steel International, Inc AYSI2.862.121.872.993.623.398.7313.518.82252229292417.1222
50. Giyani Metals Corp CATPF0000000000
51. China Industrial Steel Inc CDNN557574823649
52. Palladon Ventures Ltd PLLVF0000000
53. Colonial Coal International Corp CCARF000000000
54. Thermodynetics Inc TDYT10.7311.6911.1211.1516.52418.75240.920.970.520.55
55. Pine Valley Mining Corporation PVMCF00019.6859


Revenue Growth

200020012002200320042005200620072008200920102011201220132014201520162017201820192020
Display GDP growth per year to compare with Revenue Change
1. POSCO PKX0.920.921.211.231.551.121.071.220.980.961.691.111.010.9801173017305.910.911.141.070.99
2. Mechel PAO MTL1.771.771.051.161.521.490.581.691.290.90.760133157.571.091.081.050.95
3. ArcelorMittal MT0.880.881.091.114.081.272.091.791.190.521.21.20.90.9410.80.891.211.110.93
4. Gerdau S.A GGB0.960.961.021.751.531.281.331.341.140.841.241.010.980.910.952.720.860.981.250.86
5. Vale S.A VALE0.930.930.911.621.541.41.461.720.840.911.81.110.820.940.872.080.351.241.081.03
6. Grupo Simec, S.A.B. de C.V SIM0.910.910.981.222.062.381.731.051.150.581.351.061.090.8202927.211.121.041.240.96
7. Companhia Siderúrgica Nacional SID0.880.881.071.381.211.231.011.431.30.71.731.020.930.890.316.681.121.081.241.11
8. Nucor Corporation NUE0.90.91.161.31.821.121.161.121.430.471.421.260.970.981.110.780.991.251.240.9
9. United States Steel Corporation X1.051.051.091.341.51.011.121.071.410.471.571.140.970.910.660.891.191.160.91
10. Reliance Steel & Aluminum Co RS0.960.961.051.081.561.141.711.261.20.611.191.291.041.091.130.890.921.131.190.95
11. Steel Dynamics, Inc STLD0.880.881.421.142.171.021.481.351.840.491.591.270.911.011.190.871.021.231.240.89
12. Ternium S.A TX1.511.512.791.471.251.030.591.491.240.940.991.020.90.921.341.180.89
13. Sims Limited SMSMY1.711.711.60.950.911.50.970.711.020.730.951.091.271.030.74
14. Commercial Metals Company CMC0.920.9211.181.661.381.151.11.250.650.931.260.990.881.020.850.770.991.021.260.94
15. Ryerson Holding Corporation RYI0.780.780.931.041.511.751.021.020.880.581.271.210.850.861.050.870.91.181.311.03
16. Allegheny Technologies Incorporated ATI0.860.860.91.021.411.31.391.10.970.581.331.280.970.81.040.880.841.121.151.02
17. Worthington Industries, Inc WOR0.930.930.961.271.071.290.941.031.030.860.741.261.041.031.21.080.831.071.191.050.81
18. Carpenter Technology Corporation CRS1.211.210.740.891.171.291.191.2410.70.881.41.211.120.961.020.810.991.21.10.92
19. Schnitzer Steel Industries, Inc SCHN0.870.871.21.421.391.242.171.391.420.521.211.510.970.780.970.750.711.2501092.80.8
20. Cleveland-Cliffs Inc CLF0.870.871.61.41.461.441.11.181.590.6521.450.860.970.810.441.051.110.85
21. Stelco Holdings Inc STZHF0.710.710.971.251.520.75
22. SunCoke Energy, Inc SXC1.171.171.171.240.860.890.930.91.091.091.1
23. Olympic Steel, Inc ZEUS0.80.81.11.031.891.051.041.051.190.431.541.571.10.911.140.820.91.261.290.92
24. Warrior Met Coal, Inc HCC0.680.683.171.180.92
25. TimkenSteel Corporation TMSTNANNANINF0.880.81.210.660.791.531.210.75
26. Webco Industries, Inc WEBC1.081.081.031.121.212.480.790.991.010.81.171.31.10
27. Haynes International, Inc HAYN1.11.10.90.791.821.341.291.140.690.871.421.070.830.941.070.830.971.11.130.78
28. Ampco-Pittsburgh Corporation AP0.960.960.970.851.131.221.221.151.140.761.091.050.850.960.970.871.391.30.970.95
29. Synalloy Corporation SYNL0.80.80.941.161.011.291.181.171.080.541.461.131.161.120.90.880.791.451.41.09
30. Universal Stainless & Alloy Products, Inc USAP1.031.030.780.971.751.411.21.131.020.531.521.330.990.721.140.880.851.311.260.95
31. Corsa Coal Corp CRSXF1.391.391.380.920.752.721.010.87
32. Ramaco Resources, Inc METCNANNANINF11.73.731.01
33. Tree Island Steel Ltd TWIRF1.381.380.910.811.1410.590.841.1110.981.11.4611.0110.85
34. Friedman Industries, Incorporated FRD110.811.081.091.620.971.10.91.170.312.021.230.840.850.930.750.951.561.540.76
35. Labrador Iron Ore Royalty Corporation LIFZF0.850.851.081.130.992.181.050.951.980.552.250.960.791.050.771.011.131.380.821.36
36. Ossen Innovation Co., Ltd OSN1.221.221.161.011.030.931.080.950.991.131.031.02
37. ADF Group Inc ADFJF1.481.481.440.630.50.430.5321.31.340.780.890.870.862.010.721.621.051.750.750
38. ZK International Group Co., Ltd ZKIN1.051.051.221.221.16
39. Mesabi Trust MSB1.071.070.691.281.431.871.590.831.061.880.372.521.020.920.71.180.371.13.221.370.68
40. Plaintree Systems Inc PTEEF0.390.390.671.050.221.445.071.290.6713.510.531.261.121.061.390.810.880.961.480.891.02
41. Century Global Commodities Corporation CEUMFNANNANNANNANNANNANINF16.352.361.810
42. Oceanic Iron Ore Corp FEOVF0.760.761.080.010.390NANNANNANNANNANNANNANNANNANNANNANNANNANNANNAN
43. Black Iron Inc BKIRFNANNANNANNANNANNANNANNANNAN
44. New Millennium Iron Corp NWLNFNANNANINF0.450.30NANINF0NANNAN
45. Labrador Iron Mines Holdings Limited LBRMFNANNANNANNANNANNANNANINF0.830NANNANNANNANNAN
46. ATC Venture Group Inc ATCV111.041.490.830.960.861.230.590.30.711
47. Alderon Iron Ore Corp AXXDFNANNANNANNANNANNANNANNANNANNAN
48. Stamford Industrial Group, Inc SIDGQ0.280.280.520.490.3669.61.331.291.29
49. Alloy Steel International, Inc AYSI0.740.740.881.61.210.942.581.550.652.780.91.330.990.840.711.27
50. Giyani Metals Corp CATPFNANNANNANNANNANNANNANNANNANNAN
51. China Industrial Steel Inc CDNN1.031.031.430.79
52. Palladon Ventures Ltd PLLVFNANNANNANNANNANNANNAN
53. Colonial Coal International Corp CCARFNANNANNANNANNANNANNANNANNAN
54. Thermodynetics Inc TDYT1.091.090.9511.481.480.771.250.041.050.541.06
55. Pine Valley Mining Corporation PVMCFNANNANNANINF3.02