AK Steel stock dropped nearly 5 percent following industry report

Dayton Business Journal

The North American average value of flat-rolled carbon steel dropped in March and the market continues to be soft, according to a study released by Meps International Ltd., a steel consultant group.

Meps said in its report that there’s little chance of any significant upturn in demand, although improving weather conditions should spur the construction industry to avoid a serious price collapse.

Prices could slip mid-year because of lower consumption from the automobile industry, according to Meps.

Stock prices of other steel companies slipped Friday, with U.S. Steel, Nucor and Steel Dynamics all falling 3 percent.

[You can link to the MEPS web site from our links page … Michael]

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