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Stock Market & Financial Investment News

News Breaks
April 23, 2014
05:59 EDTAKSAK Steel upgraded to Outperform from Neutral at Macquarie
Macquarie upgraded AK Steel to Outperform citing improved pricing and demand as well as the company's significant cost reduction potential. The firm raised its price target for shares to $11 from $6.
News For AKS From The Last 14 Days
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July 7, 2015
11:11 EDTAKSIron ore bear market deepens as prices fall below $50 a ton, Bloomberg says
The bear market in iron ore is deepening as cheaper supplies from Australia and Brazil threaten to expand, says Bloomberg. Iron ore prices have dropped to below $50 a ton and have dropped more than 20% from June highs, added Bloomberg. Companies exposed to the iron ore market include Cliffs Natural (CLF), BHP Billiton (BHP) and Vale (VALE). Iron ore prices are also impacting the steel sector including U.S. Steel (X), Nucor (NUE), AK Steel (AKS) and Steel Dynamics (STLD). Reference Link
June 30, 2015
14:34 EDTAKSIron ore producers slide after Australia cuts price target on the commodity
Shares of iron ore producers are falling after Reuters reported that Australia reduced its 2015 price forecast for iron ore to $54.40 a tonne from $60.40 a tonne. According to Reuters, Australia's current projection on iron ore prices is based on its view that China, the commodity's main market, will produce less steel in 2015 and 2016 as as the seaborne supply of iron ore increases. PRICE ACTION: Cliffs Natural Resources (CLF) is down over 10%, BHP Billiton (BHP) is lower by 2.3%, and Vale (VALE) is down 4% in afternoon trading. Steel stocks, including United States Steel (X), AK Steel Holding (AKS), and Nuco (NUE) are also sliding in afternoon trading.

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