Steel stocks rise in the US
Stock prices of major steel companies continued to serge yesterday amid rumors that the industry is headed towards more consolidation.
Shares prices of three major U.S. steel companies -U.S. Steel,
Nucor and AK Steel- rose nearly 7% yesterday. Speculation that global steel giants Mittal, Arcelor and
Severstal are looking to enrich their portfolios by acquiring more American assets fueled yesterday's jump.
Steel Dynamics Inc. and Schnitzer Steel Industries Inc. are thought to be among the companies targeted by the global steel giants.