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Fly News Breaks for March 27, 2017
CENX, CMC, AKS, X, STLD, NUE
Mar 27, 2017 | 09:26 EDT
Morgan Stanley analyst Evan Kurtz said East Coast export scrap prices have fallen $30/ton, which could negatively influence April scrap price settlements. The analyst said with no clear change in supply-demand dynamics, coast deflation could lead to a near-term price peak. Kurtz would view any weakness in the space as an opportunity to buy top picks Nucor (NUE), Steel Dynamics (STLD), and U.S. Steel (X).