The UK will take control of a firm owned by Sanjeev Gupta, after creditors objected to a plan that would have seen the beleaguered steel tycoon retain control the company’s assets https://t.co/scF4Yl57dq ...

Core Viewpoint - Steel Dynamics, Inc. (STLD) has agreed to acquire the remaining 55% equity interest in New Process Steel, L.P., enhancing its position in the flat roll steel market and value-added manufacturing solutions [1][8]. Company Overview - New Process Steel is a significant metal and supply-chain solutions company based in Houston, TX, employing approximately 1,275 individuals and serving as STLD's largest flat roll steel customer [2][8]. - The acquisition will add six facilities, including two manufacturing locations in Mexico and four in the United States, to Steel Dynamics' operations [3][8]. Market Context - STLD stock has increased by 12.4% over the past year, contrasting with a 14.7% decline in the industry [5]. - The company anticipates improvements in trade uncertainties and tax impacts, with expectations for a better interest rate environment and a decline in unfairly traded imports, which will support pricing and demand in the manufacturing sector [6]. Strategic Implications - The acquisition is expected to enhance Steel Dynamics' exposure to value-added manufacturing solutions while maintaining its focus on legacy flat rolled steel solutions [2][6]. - The U.S. International Trade Commission's preliminary determinations on coated flat rolled steel are expected to improve STLD's operating platforms, although final determinations are pending [6].

The UK government is preparing to line up managers to take control of tycoon Sanjeev Gupta’s steelworks should they fall into liquidation https://t.co/yB56BzVPjs ...

Market Trends - Iron ore prices declined for six consecutive days [1] - Chinese production cuts in a major steelmaking hub are having less impact than anticipated [1]

美国商务部表示，将提高对400多种钢铝衍生产品的关税，包括风力涡轮机、移动起重机、推土机和其他重型设备，以及铁路车辆、家具和数百种其他产品。407个产品类别被添加到行业关税覆盖的钢铝“衍生”产品清单中，这些产品中的任何钢铁和铝成分将被征收50%的关税。外汇交易员 (@myfxtrader):美国商务部宣布将自6月23日起对多种钢制家用电器加征关税，包括洗碗机、洗衣机和冰箱等“钢铁衍生产品”。这是特朗普政府自3月份首次提高进口钢铁和铝关税（首次提高至25%，本次再提高至50%）以来第二次扩大受进口关税影响的衍生产品清单。 ...

Mexico will propose reinstating a North American steel committee to improve trade ties with the US and reduce reliance on Asian steel imports, according to a top trade official. https://t.co/UrM81Vrse7 ...

The Trump administration said it will step up scrutiny of imports of steel, copper, lithium and other materials from China to enforce a US ban on goods allegedly made with forced labor in the country’s Xinjiang region https://t.co/gu7zlWXKMd ...

Core Insights - Warren Buffett was a net seller of stocks for the 11th consecutive quarter in Q2 2025, but he also invested $3.9 billion in 12 stocks, including three new positions [1][3] - Half of the purchases involved increasing existing positions, notably in Chevron and Lennar Class B [3][4] - New positions were initiated in Allegion, Lamar Advertising, and UnitedHealth Group [5] Investment Highlights - Heico is the biggest winner among Buffett's Q2 purchases, closely followed by Allegion and Nucor [6] - Lennar and D.R. Horton have the lowest valuations based on forward price-to-earnings ratios [6] - UnitedHealth Group has the most attractive price-to-earnings-to-growth (PEG) ratio at 1.24 among the 12 stocks [7] Growth Projections - Nucor is projected to have nearly 32.5% earnings growth next year, with Chevron at around 24.4% [8] - Constellation Brands is favored by analysts, with a 12-month price target reflecting an upside potential of around 22% [9] Dividend Yields - Lamar Advertising has the highest forward dividend yield at 5.09%, followed by Chevron at 4.39% [10] Best Investment Choice - UnitedHealth Group is highlighted as the best investment among the 12 stocks, with a significant investment of approximately $1.57 billion from Buffett [11] - Despite challenges such as higher medical costs and investigations into Medicare billing practices, these issues are believed to be reflected in the current share price [12]

Core Insights - Berkshire Hathaway disclosed its equity holdings at the end of the second quarter, revealing significant investment moves and stock positions [1][2] Group 1: T-Mobile - Berkshire Hathaway completely exited its position in T-Mobile, which was valued at over $1 billion, after initiating the position in late 2020 [3] - T-Mobile's stock has increased over 120% in the past five years and was up about 16.5% as of August 15, 2023, with strong second-quarter earnings reported [5][6] - The company initiated a dividend in 2023, aiming for a 10% annual growth, but Berkshire may view the stock as fairly priced given its high forward price-to-earnings ratio above 23 [6] Group 2: Nucor - Berkshire Hathaway purchased Nucor, a steel company, in the first quarter, with a position valued at over $850 million by the end of the second quarter [7][8] - Nucor is gaining attention from AI investors due to its production of steel parts for data centers, with the stock up about 215% over the past five years and 27% this year [9] - Despite a significant decline in earnings compared to last year and lower third-quarter guidance, Nucor is expected to benefit from President Trump's 50% steel tariffs, which may allow for easier price increases [10][11]

Core Insights - Berkshire Hathaway made significant moves in Q2 2025, notably purchasing over 5 million shares in UnitedHealth Group, capitalizing on a 48% decline in the stock price during the quarter [1] - The firm also initiated positions in major homebuilders Lennar and D.R. Horton, as well as the largest steel producer Nucor, with these positions being kept confidential until now [2][3] Investment Moves - **New Positions**: Berkshire initiated positions in Lennar (approximately 7 million Class A shares worth $780 million), D.R. Horton (1.5 million shares worth $191 million), and Nucor (6.6 million shares worth $857 million) [3] - **Performance**: D.R. Horton reported strong earnings, contributing to a rally in homebuilding stocks, while Nucor benefited from steel tariffs, recovering from an 11% decline to a 25% increase by mid-August [4] Exits and Reductions - **Exit**: Berkshire fully exited its $1 billion stake in T-Mobile US, a move interpreted as profit-taking rather than a lack of confidence, with T-Mobile shares delivering a total return of approximately 114% since the initial investment [5][6] - **Reductions**: The firm reduced its stake in Apple by nearly 7%, marking the first reduction since Q3 2024, despite Apple shares experiencing a decline of over 7% in Q2 [8][9] - **Charter Communications**: Berkshire's shares in Charter dropped by over 46%, with the stock underperforming compared to the S&P 500 since the initial investment [9][10] Increased Holdings - **Pool Corporation**: Berkshire significantly increased its position in Pool from approximately 1.46 million to 3.46 million shares, a 137% increase, despite a 10% decline in the stock during Q2 [12][13] Cash Position - Berkshire Hathaway is holding a near-record cash position of $344 billion, indicating a cautious approach to investing in the current market [14]