NEW YORK ( TheStreet) -- Steel stocks such as AK Steel (AKS - Get Report), U.S. Steel (X - Get Report), and Nucor (NUE - Get Report) gained 6.4%, 4.7%, and 4.3%, respectively, last week boosted by China's better-than-expected industrial data. These stocks were a part of our article on steel stocks from Thursday.AK Steel last week announced a $40 per ton price increase for carbon steel products in response to growing demand as well as the need to recover higher costs for steel-making inputs. Meanwhile, for the week ended Sept. 3, capacity utilization for the steel industry rose to 70.6% from 70.2% while production increased 0.6% to 1.71 million tonnes, according to data released by the American Iron and Steel Institute.
Strong Industrial Data Lifted Steel Stocks
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