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3 Steel Stocks That Are Melting Down

The sector is rolling over again as China continues to let steel capacity go unused

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Melting Steel Stocks #3: Companhia Siderurgica Nacional (SID)

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Companhia Siderurgica Nacional (SID), the Brazilian steelmaker, is falling out of a multimonth consolidation pattern on huge negative volume as the company is hit by both the negative trends in its industry as well as the troubles facing Brazil, from high inflation to currency volatility and deterioration in the government’s fiscal position.

I am adding SID short to my Edge Letter Sample Portfolio.

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