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Fly News Breaks for August 19, 2016
ZEUS, X, AKS, STLD
Aug 19, 2016 | 06:11 EDT
KeyBanc analyst Philip Gibbs downgraded Steel Dynamics to Sector Weight and other names in the Steel space saying he's incrementally cautious on U.S. carbon sheet market outlook due to slowing demand and Q4 supply risks. The analyst believes 2017 will represent peak U.S. carbon sheet cyclical demand. Gibbs this morning also downgraded to Underweight from Sector Weight shares of AK Steel (AKS), U.S. Steel (X) and Olympic Steel (ZUES).
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