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Steel Shares Fall On Declining Demand, Prices

Stock quotes in this article: SCHN , ZEUS  

NEW YORK (AP) — Shares of steel producers fell Monday on fresh evidence that prices for several types of the commodity have fallen as well as indications that more such declines are coming.

Citi Investment Research analyst Brian Yu said in a client note that April's price for oil country tubular goods, which is used by petroleum drillers, fell 9 percent.

Yu also said cold-rolled steel was off 2 percent, while pricing for reinforcement bar was down 7 percent in Europe and down 5 percent in China. ...

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