|Day's range||36.67 - 37.04|
|52-week range||18.01 - 40.32|
|PE ratio (TTM)||20.19|
|Dividend & yield||N/A (N/A)|
|1y target est||38.16|
U.S. trade officials on Friday said their anti-dumping and subsidy probe found carbon and alloy steel cut-to-length plate from eight foreign producers harms American manufacturers, locking in duties on the imports for five years. The U.S. International Trade Commission's finding applies to cut-to-length plate from Austria, Belgium, France, Germany, Italy, Japan, South Korea and Taiwan, it said in a statement on its website. In March, the U.S. Commerce Department said anti-dumping duties ranging from 3.62 percent to 148 percent would be imposed on products from the eight producers, while imports from South Korea would also face a countervailing duty of 4.31 percent.
Swedish steelmaker SSAB posted a first-quarter operating profit on Friday that exceeded analyst forecasts fuelled by a rise in sales prices and deliveries in Europe, sending its shares as much as 10 percent higher. Shares in the company, which also has operations in the United States, have climbed in the past 15 months, lifted by factors that include cost cuts, rising industrial demand and anti-dumping measures by the United States and European Union. Other U.S. and European steel producers also saw shares gain during 2016, benefiting from lower Chinese exports and more demand from automotive, energy and construction companies.
Morgan Stanley Steel protectionism has been effective in the U.S., but had a mixed outcome in Europe. The latter might change as the EU adopts highly effective U.S. measures. Since 1999 steel trade flows have increased by more than 60% to 460 million tons (versus a global market of 1.6 billion tons), some 210% of U.S./EU production combined.