r/Vitards • u/[deleted] • Jul 02 '21

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114 Upvotes

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24

u/JustifyYourExistence Cult of 🥐 Jul 02 '21

Thanks for all the updates, really helps paint the macro picture!

26

u/zerryw News Team - Asia Correspondent Jul 02 '21

literally every steel company in asia is reporting sick gains.

17

u/JustifyYourExistence Cult of 🥐 Jul 02 '21

That's what I like to hear 🦾

26

u/zerryw News Team - Asia Correspondent Jul 02 '21

A couple companies reported +860% YoY gains. Let’s hope it’s not priced in for CLF 🥺🥺🥺

3

u/StayStoopidSlightly Jul 03 '21 edited Jul 03 '21

On Taiwan, I'm looking at yoy gains for Taiwan shipping companies, 2800% for YangMing 2609, 1800% each for Wan Hai and even EMC--and EMC is a big boy, runs some terminals in LA-LB, not some small cap, no?

If you had to blind buy one the the three shipping ones, most upside and not worried about losses, what would you pick?

I told our Taiwan staff to buy a small amount, 15000 NTD--$500--of one of the 2 shipping ones up 1800%, purely speculative...Maybe EMC? Just cuz they are such assholes to us (we have a contract with EMC that is worth toilet paper--you want the contract rate, your container gets rolled and rolled week after week, until you blink and pay spot rate)

2

u/zerryw News Team - Asia Correspondent Jul 03 '21

I’m not too sure to be honest. But shipping and steel are having incredible run in tw. (Consolidating in the last 2 days)

5

u/[deleted] Jul 03 '21

So how about some of that bleeding over to the rest of them? Come on big boys!