Stephen Simpson, CFA
Long only, growth at reasonable price, value, research analyst

The Market Already Looking To A Stronger 2014 For Steel Dynamics

When the market wants to like a story, it's not going to let a little detail like a negative quarterly guidance revision get in the way. With hot-rolled coil steel prices showing some backbone and expectations for non-residential construction improving, investors are already giving Steel Dynamics (NASDAQ:STLD) some benefit of the doubt. Improved demand (particularly in construction) and lower losses at Mesabi Nugget could offer some upside to EBITDA estimates, but in a market that still has many materials and resources stocks trading at interesting discounts, Steel Dynamics isn't among them.

Looking For Construction To Stick, And Autos To Hold Serve

Non-residential construction is a significant market for both of the major U.S. electric arc operators (Nucor...

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