We're talking to Iron Coke and Chromium Steel, but we ain't living in Allentown. This is where the money is.

Hi folks, it's Thursday where the money is so you know that that means energy and

materials, so Taylor and I are here

today and we're gonna get started off talking about iron and steel because it is a

rough market right now I mean right today the spot price for iron ore is down 39% this year at around $80 per ton.

Some of the other things, you're looking at metallurgical coal, down almost as much at less

than $100 for spot prices in the Asia-Pacific market right now.

This market is absolutely getting hammered and I've got to imagine that investors are not liking it.

Yeah, you look at the last few years, have been a pretty good ride for these companies

maybe not last year but a few years prior to that China growing rapidly

whether or not it was legit growth or not prices are still dictated on Chinese

demand international spot prices here so prices are still dictated on Chinese demand.

International spot prices here.

So whether or not the US is growing or Europe is growing.

China is the demand center.

And you're seeing all these Australian companies

like BHP Billiton and the operations

there and Rio Tinto they're sending a lot of their coal and they can produce it

pretty cheaply over there in Australia so companies elsewhere around the world

predominantly here in the United States

have been suffering because it's a little bit more expensive to produce here.

Yeah and one of the things I find kind of interesting about the whole thing is

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