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U.S. steel producers are downgraded by Dahlman Rose, which thinks the next move in steel prices...

U.S. steel producers are downgraded by Dahlman Rose, which thinks the next move in steel prices will be lower. "Recent domestic price increases have not been matched internationally, potentially inviting increased imports later this year and placing a de facto ceiling on domestic prices," the firm says. AK Steel (AKS -4.7%) is cut to Sell from Hold. Cut to Hold from Buy: MT, NUE, STLD, X.
Comments (1)
  • toolpusher
    , contributor
    Comments (32) | Send Message
     
    Better late than never to understanding the outlook for the steel industry. If you had been following the international market, dominated by China as is world capacity, you would already have known this information which is more than a month old at least. These companies have becoming trading stocks based on short term volatility. The buy and hold investors appear to have left the market based on the outflows of investor capital and the movement to bonds IN SPITE of lousy yields.
    23 Aug 2012, 01:19 PM Reply Like
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