Steel Prices Heat Up Despite Lackluster Earnings
Though not one of the most popular industrial metals on Wall Street steel has certainly been under close watch in the last few weeks as commodity traders brace themselves for what looks like an inevitable spike in spot prices. After several lackluster earnings reports top US steelmakers have made it quite clear that steel will come at a higher price tag in the near future despite weak current demand. This week bellwether US Steel Corp (NYSE:X) reported its rather upsetting fourth quarter figures posting a $50 million loss for the period. AK Steel Holding Corp (NYSE:AKS) and Nucor Corp ...
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