Moody's Cuts Steel Industry Outlook to Negative; Sees Declining Utilization Rates (X) (STLD) (AKS)
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Steelers on the move as Moody's cut it outlook on the industry from Stable to Negative today. The credit ratings service noted that capacity utilization levels have been slowing since April 2012 and will likely continue to lower levels. Utilization rates are currently above 70 percent.
Traders are eying names like US Steel (NYSE: X), AK Steel (NYSE: AKS), Nucor (NYSE: NUE), ArcelorMittal (NYSE: MT), Steel Dynamics (Nasdaq: STLD) Thursday.
Traders are eying names like US Steel (NYSE: X), AK Steel (NYSE: AKS), Nucor (NYSE: NUE), ArcelorMittal (NYSE: MT), Steel Dynamics (Nasdaq: STLD) Thursday.
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