StockCall.com Provides Stock Research on AK Steel Holding Corp., Companhia Siderurgica Nacional, Steel Dynamics Inc., and Tenaris SA
New York City, New York -- (May 22, 2013)
Steel & Iron industry saw significant growth between 2000 and 2010 due to rising demand from China. The demand for steel & iron was driven by huge infrastructure projects China undertook over the past decade. However, the Chinese economy has seen a slowdown in the past year which has had a significant impact on the steel & iron industry. The weakening demand from China came at a time when the industry was already struggling due to the recession in Europe and uncertain economic environment in the U.S. Going forward, the key for steel & iron industry will be to cut excess capacity to adapt to the changing market dynamics. Steel & iron stocks ended mostly higher on Tuesday, May 22, 2013, tracking gains in the broad market. Among the major movers in the sector were AK Steel Holding Corporation (NYSE: AKS), Companhia Siderurgica Nacional (ADR) (NYSE: SID), Steel Dynamics Inc. (NASDAQ: STLD), and Tenaris S.A. (ADR) (NYSE: TS). StockCall free coverage on AKS, SID, STLD, and TS is available upon registration at
Shares of AK Steel Holding Corporation rallied in trading on Tuesday. The stock rose to an intraday high of $3.70 before finishing the day 3.98% higher at $3.66 on above average volume of 10.08 million, taking its gains in the last three sessions to nearly 11%. Despite the recent gains, AK Steel’s shares have fallen more than 20.40% so far in 2013 as compared to a gain of over 17% for the S&P 500. The stock is currently trading more than 45.60% below its 52-week high. Download the free technical research on AKS by signing up at
www.StockCall.com/AKS052213.pdf
Another major gainer in the steel & iron sector yesterday was Companhia Siderurgica Nacional. Shares of the Sao Paulo, Brazil-based company ended 2.66% higher at $3.47 on above average volume of 5.55 million. Shares of SID have gained nearly 3.90% in the last three sessions which suggests that market sentiment is bullish on the stock. It is currently facing resistance at around $3.50. Year-to-date, the company’s shares have fallen more than 40.10%, even as the broad market has rallied. Register now and get access to the free analysis on SID at
www.StockCall.com/SID052213.pdf
Shares of Steel Dynamics Inc. touched a 52-week high of $16.23 on Tuesday. The stock rose 1.65% to finish the day $16.04 on above average volume of 4.08 million, taking its gains in the last three trading sessions to over 6.60%. The company’s shares recently crossed above their 50-day moving average which is a bullish signal. The stock’s MACD is currently trading above the signal line and the zero-line which further confirms the bullish trend. Shares of STLD have gained more than 16.80% thus far this year. Sign up and read the complimentary report on STLD at
www.StockCall.com/STLD052213.pdf
Shares of Tenaris S.A. edged higher yesterday; however, the gains were limited. The stock closed 0.30% higher at $43.19 on volume of 766,400. Shares of the company are currently trading close to its 52-week high of $44.88. The stock is currently trading above its 50- and 200-day moving averages, which is a bullish signal. Shares of the company have been facing resistance at around $44. The free report on TS can be downloaded by signing up now at
www.StockCall.com/TS052213.pdf
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