Steel stocks surge as UBS lifts target prices on U.S. Steel (X +6.4%), Steel Dynamics (STLD...

|By:, SA News Editor

Steel stocks surge as UBS lifts target prices on U.S. Steel (X +6.4%), Steel Dynamics (STLD +3.1%) and Nucor (NUE +1.3%). Several factors are driving gains in the sector despite recent profit warnings (I, II): a recent round of price hikes by steel producers that appear to be taking hold, rising U.S. car and truck sales, and declining costs. Also: AKS +4.8%.