End-markets like aerospace, oil/gas, and power gen may not be back up to full power right now, but investors have already started positioning themselves for a better 2014. With that, the stocks of specialty metal/alloy producers like Allegheny Technologies (ATI) and Carpenter Technology (CRS) have strengthened recently, as have those of more conventional steel producers like Nucor (NUE) and Steel Dynamics (STLD).
The much smaller and less well-covered Universal Stainless & Alloy Products (USAP) has also enjoyed a solid rebound of late, with the shares up about 30% since early August. USAP is well-positioned to benefit from destocking in end-markets like aerospace and oil/gas, but...
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