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Steel Dynamics (STLD -3%), Schnitzer Steel (SCHN -1.4%), Reliance Steel (RS -0.7%) and...
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Tuesday, September 18, 2012, 12:42 PM ETSteel Dynamics (STLD -3%), Schnitzer Steel (SCHN -1.4%), Reliance Steel (RS -0.7%) and Worthington (WOR -1.4%) are downgraded to Hold from Buy at Jefferies, which believes steel shares are fully valued and expects U.S. steel prices to pull back. The firm maintains Buy ratings on the most defensive (NUE) and undervalued (GTI, MUSA, ZEUS) names within the group.
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