Credit Suisse analysts led by Curt Woodworth said the global steel market has re-balanced following the fallout from the energy market, destocking, and distressed exports form China. Over the past several weeks HRC and CRC prices have recovered and are expected to reach $480/$640 ton, respectively. by the end of Q2 before trending lower in 2H 2016 as the supply chain normalizes. The analyst increased the US steel price deck given rising global prices levels and increased US spreads globally. As a result, the firm raised estimates and forecasts and reiterates U.S. Steel (X) and Steel Dynamics (STLD) as top picks and raised price targets to $22 and $27, respectively.

Unusual total active option classes on open include: Steel Dynamics (STLD), Gildan Activewear (GIL), Danaher (DHR), Altimeter Growth (GRAB), Childrens Place (PLCE), ASML (ASML), US Bancorp (USB), iShares Barclays 7 to 10 Year Treasury Bond Fund (IEF), AMC Entertainment (AMC), and Abbott (ABT).

Metals & Mining Analyst Englert, along with Rye Druzin of Argus Media, discuss recent flat rolled steel pricing, supply and demand trends, and the near-term outlook for fundamentals (relevant companies ASTL CLF NUE STLC STLD X RS WS) on an Analyst/Industry conference call to be held on April 19 at 11 am.

JPMorgan raised the firm's price target on Nucor to $195 from $180 and keeps a Neutral rating on the shares. The analyst expects improved earnings quarter-over-quarter in Q1 on higher realized lagged contract pricing and seasonally stronger shipments, namely for sheet products. The firm feels integrated steel mills could see better than expected auto shipments offset weak service center activity while mini mills should see further easing in downstream earnings driven by both seasonality and realized pricing yet to stabilize.