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STLD

Steel Dynamics

$39.21

0.48 (1.24%)

14:16
12/07/17
12/07
14:16
12/07/17
14:16

Steel Dynamics 'pleased' with DOC determination on flat roll steel from China

Steel Dynamics commented that it is pleased with this week's announcement by the Department of Commerce concerning the preliminary affirmative circumvention determination against flat roll steel from China processed into cold roll and corrosion resistant flat roll steel in Vietnam. The circumvention investigation was made pursuant to a petition filed by Steel Dynamics on September 22, 2016. "We are very pleased that Secretary Ross is taking steps to aggressively enforce U.S. trade laws," commented Mark D. Millett, President and Chief Executive Officer. "Stopping the circumvention of enacted trade laws will ensure a level playing field for the domestic steel industry. As the largest non-automotive flat roll steel coater in the U.S., it could be a meaningful positive tailwind for Steel Dynamics."

STLD Steel Dynamics
$39.21

0.48 (1.24%)

12/07/17
MSCO
12/07/17
NO CHANGE
MSCO
After Vietnam win, steel makers could file new complaints, says Morgan Stanley
Morgan Stanley analyst Piyush Sood said the Department of Commerce affirmative preliminary ruling against imports of certain steel products from Vietnam made of Chinese substrate may only affect small volumes, but it "sends a loud message to the steel industry" and could prompt U.S. steel makers to file similar complaints against other countries. He thinks a few self-initiated cases and anti circumvention cases can reduce U.S. steel imports and "clubbed together, could very well resemble a Section 232 ruling," though without an import quota and/or blanket tariffs. Falling imports next year should help boost prices, said Sood, who names U.S. Steel (X), AK Steel (AKS) and ArcelorMittal (MT) as "key beneficiaries," followed by Steel Dynamics (STLD)and Nucor (NUE).
12/06/17
SBSH
12/06/17
NO CHANGE
SBSH
Citi sees limited near-term impact from Vietnam steel ruling
Department of Commerce found in favor of U.S. steel mills who claimed that certain imports of flat steel from Vietnam were circumventing existing duties on Chinese steel, Citi analyst Alexander Hacking wrote last night in a research note. The analyst, however, believes the ruling will not directly reduce near-term imports. He notes that imports from Vietnam have already fallen significantly. Nonetheless, Hacking calls the ruling a win for the U.S. steel industry as it sets a precedent for potential future cases in defining circumvention, defining material transformation and applying duties retroactively. He expects a "small positive reaction" in steel stocks today, with U.S. Steel (X) rallying the most, followed by AK Steel (AKS), Steel Dynamics (STLD) and Nucor (NUE)
10/20/17
COWN
10/20/17
NO CHANGE
Target $43
COWN
Outperform
Cowen says Steel Dynamics sees U.S. market bottom, positive on near-term prices
Cowen analyst Novid Rassouli noted that Steel Dynamics management expressed their view along with Q3 earnings that the U.S. steel market has bottomed and they are largely positive on the near-term U.S. steel pricing outlook. He keeps an Outperform rating on Steel Dynamics shares and raised his price target on the stock to $43 from $39.
10/20/17
KEYB
10/20/17
UPGRADE
Target $44
KEYB
Overweight
Steel Dynamics upgraded to Overweight from Sector Weight at KeyBanc
KeyBanc analyst Philip Gibbs upgraded Steel Dynamics to Overweight with a price target of $44. The shares now trade at a discount to the carbon steel sector despite industry-leading return on invested capital, Gibbs tells investors in a research note. The analyst believes the recovery in U.S. sheet pricing supports a more constructive sector sentiment and he sees company-specific earnings catalysts for Steel Dynamics.

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SAGE

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ORCL

Oracle

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UBA

Urstadt Biddle

$22.71

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ORCL

Oracle

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VSTM

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DNR

Denbury Resources

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NCBS

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GALE

Galena

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FactSet

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ANET

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LENS

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