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U.S. Steel: Stating the Obvious
2014-12-11 00:07:14| Steel - Topix.net
JPMorgan's Michael Gambardella and Tyler Langton state the obvious: Falling steel prices aren't good for steel stocks like AK Steel and U.S. Steel : We remain cautious on the steel industry as the high U.S. steel price premium over Chinese prices should continue to attract imports into the U.S. and put downward pressure on domestic steel prices. Hot rolled coil prices have fallen 12% from a high of $700/ton this summer that was largely due in our view to temporary production outages which are now back in supply.
Tags: steel
obvious
Category:Materials