Dahlman Rose Has Notes On The Metals & Mining Sector (XME)

Dahlman Rose & Co. is out with its daily report on the metals & mining sector.

In the report, Dahlman Rose says that metal prices are responding positively to the China PMI data.

It also goes on to say, "Published reports indicate that a $40 per short ton price increase may be forthcoming for carbon steel prices in North America. This would take the price of hot rolled coil to $620 per short ton. Increasing scrap prices, coupled with relatively low inventory levels at service centers, has emboldened steel mills to attempt the price increase."

Shares of SPDR S&P Metals and Mining ETF (NYSE: XME) are up $1.71, gaining 3.5% to $50.10.

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