Flat-rolled prices to bottom in 90 days: Morgan Stanley

摘要

Domestic flat-rolled steel prices are likely to bottom out over the next 90 days as U.S. mills have idled capacity, imports are expected to taper off and distributors’ destocking ends, according to analysts at Mor?gan Stanley Equity Research. Pittsburgh-based U.S. Steel Corp. and Chicago-based ArcelorMittal USA LLC have already taken about 3 million tons of blast furnace capac?ity out of the market so far this year, a figure that would represent 10.5 million tons on an annual basis, analysts with the New York-based firm wrote in an April 2 note.