Saturday, April 09, 2005
AK Steel stock dropped nearly 5 percent following industry report
Dayton Business Journal
The North American average value of flat-rolled carbon steel dropped in March and the market continues to be soft, according to a study released by Meps International Ltd., a steel consultant group.
Meps said in its report that there's little chance of any significant upturn in demand, although improving weather conditions should spur the construction industry to avoid a serious price collapse.
Prices could slip mid-year because of lower consumption from the automobile industry, according to Meps.
Stock prices of other steel companies slipped Friday, with U.S. Steel, Nucor and Steel Dynamics all falling 3 percent.
[You can link to the MEPS web site from our links page ... Michael]
The North American average value of flat-rolled carbon steel dropped in March and the market continues to be soft, according to a study released by Meps International Ltd., a steel consultant group.
Meps said in its report that there's little chance of any significant upturn in demand, although improving weather conditions should spur the construction industry to avoid a serious price collapse.
Prices could slip mid-year because of lower consumption from the automobile industry, according to Meps.
Stock prices of other steel companies slipped Friday, with U.S. Steel, Nucor and Steel Dynamics all falling 3 percent.
[You can link to the MEPS web site from our links page ... Michael]
