Loading ...I have a friend who is smart about stocks. He likes a company called Newcore Steel, the trade symbol is NUE. Anyways he says what makes this steel company so amazing is that they’re able to buy scrap steel for very low prices. They typically have refineries where there’s lots of access to cheap scrap steel. Newcore has different furnaces than someone like US Steel he says. Thir furnaces are called healiarc furnaces. The difference between a Healiarc furnace and a traditional natural gas furnace such as US Steel uses. He told me it takes about 30 days for a US Steel furnace to warm up. I think that heliarc furnaces can warm up in a few days. This makes NUE much more nimble and able to pivot with market spot prices. They are also a non-union steel company. What sets them apart from other non-union steel companies is that they offer their employees base-assistant pay when they are laid off. This gives them a flexible work staff who have experience and are capable of remaining flexible. Anyway I was looking at the chart and it’s been sold off from its high pretty good.
