We cover steel.  That’s not just steel and nothing but steel, but includes all its upstream and downstream components.  So we also cover scrap, iron ore, DRI, integrated steelmills, steel minimills, service centers, logistics and mill service providers.

Why? Its fun.  We like the way steel touches almost every basic industry and commodity sector in one way or another.  And it is very global, with China, India, Asian, Turkey, E Europe, Brazil, Canada, Mexico and the US all slugging it out. We’ve had nothing but fun covering this crazy industry for over 35 years on Wall Street and we intend to keep doing it so long as it makes sense to us!

  • Aldo-on-Steel is our basic weekly newsletter.  It highlights important events and comments on likely market impact and suggests winners and losers.  We also publish timely reports on companies and industry trends, investment ratings, target prices, risks and valuation work across our coverage universe.
  • Premium Services are also available that include higher touch access like conference calls, our working valuation models, direct phone/email contact, arranged meetings, and priority access to our various steel industry events and corporate access offerings.
  • Bespoke Research is available on certain public or private companies.  Our events include organized steel mill tours, other corporate visits, dinners, lunches and meetings with steel companies, and we hold an annual Steel Traders’ Dinner in NYC each June.  Clients are cordially invited to attend all events.
We are licensed and registered and members of the Research Prime Platform with IRC Securities, a fully licensed FINRA-registered broker dealer (www.ircsecurities.com), where our research is reviewed and approved prior to distribution by IRC Securities’ supervisory analysts.  As registered representatives of IRC Securities, our analysts must follow IRC Securities’ Written Supervisory Procedures. Notable compliance policies include: (1) prohibition of insider trading or the facilitation thereof, (2) maintaining client confidentiality, (3) archival of electronic communications, and (4) appropriate use of electronic communications, amongst other compliance related policies. The research is reviewed and approved prior to distribution by IRC Securities’ supervisory analysts. Compliance documents are available upon request.


Recent Posts

Commerce just “self-initiated” another dumping case, and what’s transformation mean?

The US Commerce Department just gave us two examples of their new aggressiveness in protecting American businesses from foreign competition that might be unfair. First, it just self-initiated a trade case against the Chinese aluminum producers that will not make its way through the system much like the steel cases did starting 18 months ago. … Continue reading Commerce just “self-initiated” another dumping case, and what’s transformation mean?

G20 Forum on steel overcapacity… should focus on production.

Ministers at the G20 forum were arguing about whether China’s acknowledged shutdown of 100-150 million tons of steelmaking capacity (more than exists in the entire US market) was enough.  China says it has taken leadership while the rest of the world claim not enough.  We think the argument is being fought over the wrong subject….it’s … Continue reading G20 Forum on steel overcapacity… should focus on production.


Steel markets continue to show reasonable demand trends and limited supply from imports and domestic production.  Although momentum for added protectionism has faded since the summer, we don’t think the US steel producers are in dire need of protection as much as they are in dire need of some demand stimulus.  With steel prices in … Continue reading Aldo-on-Steel

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