Steel Names Looking to go Positive
Like most stocks, shares of steelmakers have undergone a huge reversal in today's session. Shares of Arcelor Mittal (NYSE: MT), which had traded as low as $24.52 (52-week low) earlier in the session, are currently trading up 1.3% from yesterday's close to $25.74. Shares of Nucor (NYSE: NUE), which had traded as low as $33.86 (52-week low), are currently trading up 0.5% from yesterday's close to $35.12.
There may be some room left to go, however, as a few names are still stuck in negative territory. Shares of United States Steel (NYSE: X), which hit a 52-week low of $31.70 earlier in the session, are still trading down 1.1% (42 cents) to $33.45. Shares of AK Steel (NYSE: AKS), which hit a 52-week low of $8.58 earlier in the session, are still trading down 1.6% (16 cents) to $9.07.
If the rally continues into the close, these two names could hold the biggest upside potential of any of the steel stocks.
