05
Sep
16:30
Weak pricing, demand sour bank outlook for steel
Bank of America has cut its forecast for U.S. steel prices and dialed back its earnings expectations for American steel stocks across the board.
In a note authored by analyst Timna Tanners, the bank reduced its 2019 second-half price target for hot-rolled coil from $628/short ton to $572/st.
Kallanish currently puts hot-rolled at $580-620/st, though several sources immediately following the Labor Day holiday have said that the vast majority of deals are just …
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Anonymous
Very good overview of the weekly steel market.
Anonymous