NEW YORK, Nov. 17, 2017 /PRNewswire/ --
If you want a Stock Review on MT, NUE, SID, or STLD then come over to http://dailystocktracker.com/register/ and sign up for your free customized report. Financial Times reported that around the world, a surplus of factories pose a threat to the Steel sector's health, according to industry executives. At the World Steel Association's annual general meeting in Brussels earlier in October, John Ferriola, chief executive of US group Nucor, said: "Our current [global] overcapacity issue is bad. [It] results in a high level of exports that in some cases are illegally subsidized and dumped in other nations." Pre-market today, DailyStockTracker.com redirects investors' attention to four equities in the Steel and Iron space to see how they have fared over the past trading sessions: ArcelorMittal (NYSE: MT), Nucor Corp. (NYSE: NUE), Companhia Siderurgica Nacional (NYSE: SID), and Steel Dynamics Inc. (NASDAQ: STLD). Take a look at the free research reports issued today on DailyStockTracker.com for these stocks by signing up at: http://dailystocktracker.com/register/
ArcelorMittal
On Thursday, shares in Luxembourg headquartered ArcelorMittal recorded a trading volume of 2.45 million shares. The stock ended the day at $28.09, rising 0.61% from the last trading session. The Company's shares have advanced 8.16% in the previous three months and 28.26% on an YTD basis. The stock is trading above its 50-day and 200-day moving averages by 1.21% and 11.32%, respectively. Furthermore, shares of ArcelorMittal, which together with its subsidiaries, owns and operates steel manufacturing and mining facilities, have a Relative Strength Index (RSI) of 45.81.
On November 08th, 2017, confirmed that the European Commission has initiated a Phase-II review of AM Investco Italy Srl's proposed acquisition of Ilva S.p.A. MT will continue to work closely and constructively with the European Commission to explain the dynamics of the Steel industry, the rationale of the proposed acquisition, and the benefits it will bring to industry, customers, the environment, and the local economy.
On November 13th, 2017, research firm Cowen reiterated its 'Market Perform' rating on the Company's stock with an increase of the target price from $27 a share to $32 a share. Sign up and read the free research report on MT at: http://dailystocktracker.com/registration/?symbol=MT
Nucor
Charlotte, North Carolina-based Nucor Corp.'s stock saw a slight decline of 0.27%, finishing yesterday's session at $54.79 with a total trading volume of 1.63 million shares. The Company's shares have gained 1.26% over the previous three months. The stock is trading below its 50-day moving average by 2.94%. Additionally, shares of Nucor, which manufactures and sells steel and steel products in the US and internationally, have an RSI of 33.41.
On October 23rd, 2017, research firm Cowen reiterated its 'Market Perform' rating on the Company's stock with an increase of the target price from $57 a share to $63 a share.
On November 15th, 2017, Nucor announced that it will build a full-range merchant bar quality (MBQ) mill at its existing bar steel mill located in Bourbonnais, Illinois. The MBQ mill will have an annual capacity of 500,000 tons and is expected to cost $180 million. The project will take approximately two years to complete. The complimentary research report on NUE can be downloaded at: http://dailystocktracker.com/registration/?symbol=NUE
Companhia Siderurgica Nacional
Shares in Sao Paulo, Brazil headquartered Companhia Siderurgica Nacional ended the session flat at $2.23. The stock recorded a trading volume of 2.15 million shares. The Company's shares are trading 18.87% below their 200-day moving average. Moreover, shares of the Company, which operates as an integrated steel producer in Brazil, have an RSI of 28.41. Register for free on DailyStockTracker.com and access the latest report on SID at: http://dailystocktracker.com/registration/?symbol=SID
Steel Dynamics
At the closing bell on Thursday, Fort Wayne, Indiana headquartered Steel Dynamics Inc.'s stock declined 0.19%, finishing at $36.95. A total volume of 1.37 million shares was traded. The Company's shares have gained 1.40% in the last month, 7.76% over the previous three months, and 3.85% on an YTD basis. The stock is trading 2.81% and 4.51% above its 50-day and 200-day moving averages, respectively. Additionally, shares of Steel Dynamics, which together with its subsidiaries, engages in the steel products manufacturing and metals recycling businesses in the US and internationally, have an RSI of 49.45.
On October 20th, 2017, research firm KeyBanc Capital Markets upgraded the Company's stock rating from 'Sector Weight' to 'Overweight'. Get free access to your research report on STLD at: http://dailystocktracker.com/registration/?symbol=STLD
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