Heat Treat Industry News

March 27, 2008

Buy U.S. Steel

About 32 U.S. steel companies filed for bankruptcy between 1999 and 2003, but not the U.S. Steel. No wonder it’s Cramer’s favorite stock in the sector.

And the steel business right now is ripe for American companies, said Surma, an alumni of the Smeal College of Business where Mad Money was filming its latest Back to School Tour show today. Costs across the board have kept competition with firms overseas relatively even. Inventories and imports are low in North America, increasing demand for U.S. Steel. Prices are higher abroad. All these conditions have “made our product much, much more competitive,” he said.

Another key point from Surma: As many as 4 billion people in emerging markets are looking to improve almost every facet of their lives, from food to shelter to transportation. “And there’s no really good way to improve life without using large amounts of steel,” he said.

Posted By:Tom Brennan

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