U.S. Steel (X), the nation's largest steelmaker, melted this weak on dismal news from the housing and auto markets. Has the sell-off created a buying opportunity?
Guy Adami sees consolidation coming in the mining sector and he thinks U.S. Steel is a likely takeover candidate. Consequently, Adami says it’s a buy.
Tim Seymour agrees. He adds there’s speculation that Korea’s POSCO (PKX) might want to acquire U.S. Steel as well as a couple of the Russian steel makers. The only issue, says Seymour, is whether Americans object to a foreign entity buying U.S. Steel?
He also recommends watching Mechel (MTL).