Why U.S. Steel, Alcoa, and Companhia Siderurgica Stocks Are Surging Today
Friday is turning out to be a good day to be in the metals business, as shares of steelmakers United States Steel (NYSE: X) and Brazil's Companhia Siderurgica Nacional (NYSE: SID) roar to new heights, up 10.4% and 12.1%, respectively, in 1:50 p.m. EST trading. In regard to steel, Bloomberg News recently exulted at U.S. Steel's "47% breakout in November," asserting that supply shortages of the usually run-of-the-mill metal are behind the stock's rise.