John Tumazos Quotations

We are lowering our rating on the copper industry to neutral from favorable as demand in the United States and some parts of Asia are weaker than expected.

I think steel's going to recover to robust profitability for surviving companies for the most part due to reduction in supply.

Our revision does not guarantee that the copper market moves to surplus, but it does suggest the market is coming closer into balance.

We are not reducing our earnings estimates or our price target, but we do not have the confidence in current copper demand to raise our copper price estimate of $2 per pound to the current copper price of $2.31 or our price target above $160.

There's a constant rate of retirees, pension and medical payments. Nucor doesn't have that, so it's tough competing with that.

Their staffing levels are excessive, in my opinion. This isn't the first time they've laid people off, and I don't think it's the last. They are much, much leaner than they were 20 years ago.

If neither has a great outlook its hard to say who got a better deal and who got the worse one.