Ryerson guides Q1 revenues higher Q/Q and Y/Y

|About: Ryerson Holding Corp. (RYI)|By:, SA News Editor

Ryerson (NYSE:RYI) +5.7% AH after saying it expects higher Q1 revenue than in Q4 2016 and the year-ago Q1, with higher average selling prices and higher tons sold for the current quarter vs. both periods.

RYI attributes anticipated higher average selling prices to supply side stabilization and global metal demand improvement; higher steel prices have been supported by rising prices for metallurgical coal, Chinese iron ore and steel scrap, combined with increased Chinese domestic steel consumption and positive U.S. industrial sentiment indicators.