China may be one of the last places where you can buy things on the cheap.
It is what it is and there's nothing to do but roll with it. We planned it way in advance and it was a wedding for my sister. We would have liked not to be paying prices like this -- but, it was for family. . . . We decided to travel anyway [after gas prices soared] because we had already made plans and commitments.
I can't recall, in the 40 years I've been following the steel industry, ever seeing a bid that was raised after already winning.
They were reasonable, (considering) they were hit by a lot of things beyond their control.
I know the numbers are going to be bad for all of these guys.
You would think that with their costs going up and prices going up, you wouldn't make much more money or would do a little worse, ... But in reality, there has been a very, very strong correlation: The higher the scrap goes, the more money they make. It just means the market is better overall.
Last year's third quarter was the best the industry ever had. There were companies who made as much in a year in their prior histories as they made that quarter, ... This is going to be a - terrible third quarter.
All these companies are getting hit by (natural) gas. The problem is we know what they are getting hit by but it's impossible to put a number on because you don't know (about long-term fuel contracts).
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