A Goldman Sachs analyst sharply cut his forecast for steel prices Thursday, saying steel buying has come to a near halt worldwide, but there could be buying opportunities ahead for some steel stocks.
Steel producer shares sank Wednesday on fresh evidence of slowing U.S. manufacturing and an analyst's prediction of subdued demand for the rest of the year.
With the Dow Jones steel index increasing 40 percent in the last year and 5 percent in the last month -- and raw materials in high demand -- Mark Parr of KeyBanc Capital Markets offered stock picks to get in on the trading action.... Read More