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Updated from 3:45 p.m. ET
Steel producers fell Thursday after Steel Dynamics(STLD Quote) replaced its forecast of a first-quarter profit with a forecast of a loss amid an industrywide utilization rate of only 43%.
The Fort Wayne, Ind., steel producer cut its first-quarter earnings guidance late Wednesday, predicting a per-share loss of 40 cents to 45 cents instead of the its previous prediction of a profit of 5 cents to 10 cents.
The company cited inventory adjustments needed to reflect weak market conditions. ...
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