“The steel industry is experiencing tremendous global growth.” said PHLX Vice President of New Products, Daniel Carrigan. “World crude steel production for the 62 countries reporting to the International Iron and Steel Institute stands at 854.1 million metric tons (mmt) for the first ten months of 2004. This is 9.3% higher than for the same period of 2003. STQ component stocks have experienced price moves of 100% - 300% since early Spring making this index the clear choice to trade the Steel Sector,” added Carrigan
“With STQ, investors can capitalize on the many international as well as domestic trends that influence the demand, pricing and supply of steel and steel products.” said Jamie Farmer, president of SIG Indices. “Trade issues, country specific policies and economic expansion and contraction have a clear and direct impact on the sector at large. Because of the frequency with which such issues materialize, the steel sector can be characterized by significant volatility,” added Farmer.
