Morningstar: 2015 Will Be a Difficult Year for the US Steel Sector, Steel Billet Drops 3.6%

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Cold-rolled steel

With US GDP, construction spending, and industrial activity all on the upswing, one might think that 2015 is shaping up to be a banner year for the steel sector. But with weak crude prices undercutting demand from the energy sector and a wave of imports washing ashore, that’s unlikely to be the case. Morningstar‘s Andrew Lane expects 2015 to mark a cyclical trough as spot prices fall and capacity utilization remains unfavorable.

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The steel billet cash price saw the biggest decline of the day, dropping 3.6% on the LME to close at $400.00 per metric ton on Friday, February 20. The steel billet 3-month price saw a 1.2% decline on the LME to $400.00 per metric ton.

 

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