U.S. Steel likely to be pressured by tariff decision, says Wells Fargo After the International Trade Administration last night announced that it is not imposing anti-dumping duties on OCTG products from South Korea, Wells Fargo believes that investors expected a different outcome that would have been more positive for U.S. Steel. The firm expects the stock to be pressured on the news, and it keeps an Underperform rating on the stock.
U.S. Steel downgraded to Neutral from Buy at Nomura Nomura believes U.S dollar strength and cost curve deflation driven by lower raw material prices and freight rates will continue to alter the global steel landscape. The firm expects continued export pressure by Russia and China into the global market to be highly disruptive, and when combined with further U.S. dollar strength, to pressure the U.S. steel sector. As a result, Nomura downgraded U.S. Steel (X) to Neutral and lowered its price target to $21 from $37.