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June 16, 2014
11:29 EDTNUE, STLD, AKS, MTAK Steel rallies after BofA/Merrill upgrade to Buy
Shares of AK Steel (AKS) are rising after Bank of America/Merrill Lynch upgraded the stock to Buy from Neutral in a note to investors earlier today. WHAT'S NEW: AK Steel should be boosted by stronger demand for electrical steel in the second half of this year, driven partly by strong demand for the product from India, Bank of America/Merrill Lynch analyst Timna Tanners wrote in a note to investors earlier today. Additionally, the company should benefit from lower cost pressures, due to declining iron ore prices and a drop in its costs for Magnetation in 2015, Timna stated. Magnetation, a joint venture formed in 2011, produces iron ore. Tanners raised her price target on AK Steel to $10 from $9. WHAT'S NOTABLE: On June 10, Goldman Sachs predicted that AK Steel and another company in the sector, U.S. Steel (X), would benefit from falling raw material costs and stronger margins. The firm reiterated Buy ratings on both stocks. OTHERS TO WATCH: Other steel makers include Nucor, (NUE), ArcelorMittal (MT) and Steel Dynamics (STLD). PRICE ACTION: In late morning trading, AK Steel climbed 5.6% to $7.
News For AKS;NUE;MT;STLD From The Last 14 Days
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September 30, 2015
10:00 EDTAKS, NUE, STLDBofa/Merrill global metals/mining analysts hold analyst/industry conference call
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September 28, 2015
10:20 EDTMTOptions with increasing implied volatility
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September 25, 2015
13:47 EDTNUENucor announces addition of QST process at Nucor-Yamato Steel
Nucor announced that Nucor-Yamato Steel Company, a joint venture between Nucor and Yamato Kogyo Co. Ltd, is installing a $75M Quench and Self-Tempering process to be utilized on its 1.4M tons of Mill 2 rolling capacity. Nucor Chairman, CEO and President John Ferriola was joined by Arkansas Governor Asa Hutchinson to make the announcement at the Nucor-Yamato Steel mill in Blytheville, Arkansas. The project is expected to be commissioned during the second half of 2016. Upon completion, the process will give NYS the ability to produce ASTM A913 Grade 65 and Grade 70 structural sections with a high-strength, low-alloy grade chemistry that provides excellent weldability while achieving good toughness at low temperatures.
September 24, 2015
17:13 EDTAKSAK Steel says anti-dumping cases to proceed following ITC ruling
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September 23, 2015
10:28 EDTMTArcelorMittal volatility elevated as shares near ten-year low
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September 21, 2015
05:36 EDTSTLDSteel Dynamics to host investor day
Investor day to be held on September 23 at 9:30 am. Webcast Link

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