23
Sep
18:03
JP Morgan expects lower steel prices
Investment bank JP Morgan has cut its rating for three key US steel companies, citing lower average steel pricing ahead, Kallanish reports.
JP Morgan recently downgraded the shares of AK Steel, Cleveland-Cliffs, and US Steel – largely based on negative Q3 guidance figures from the companies and their competitors. US Steel, in particular, expects to report a loss in Q3.
“If current economic and trade conditions hold, we think steel prices [hot-roll…
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Anonymous
Very good overview of the weekly steel market.
Anonymous