Citi analyst Alexander Hacking downgraded U.S. Steel (X) to Neutral along with others in the Steel space after cutting his view on the sector to Neutral from Bullish. The U.S. steel sector has rallied 68% since mid-October, "which captures the majority of cyclical upside," Hacking tells investors in a research note. He expects steel prices to decline in the second half of 2017 amid increased domestic supply, limited demand growth, lower raw materials and import parity. The analyst raised his price target for U.S. Steel to $37 from $21. Steel Dynamics (STLD) remains Hacking's top pick in Steel. The analyst this morning also downgraded AK Steel (AKS) to Sell and Commercial Metals (CMC) to Neutral.

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.