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CONTACT: IR Contact: Matthew J. Dennis, CFA Olympic Steel Investor Relations (216) 672-0522
Credit Suisse lifted the sector to overweight from underweight based on expectations that prices will bottom this summer and begin to rebound in the third quarter.
Last month Commerce Secretary Wilbur Ross said that the results of an investigation he launched will determine if Chinese and other foreign-made steel poses a threat to U.S. national security.
Buried in Donald Trump's series of executive orders reviving the Keystone and Dakota Access pipeline projects is a piece of very good news for American steel companies.
A dropoff in foreign competition and a Trump bump may make the difference for steelmakers, the investment bank argues.