|
|
| |
|
|
Brazilian Vale's dam disaster brings benefits to US steel stock
3/8/2019 |
--------------------------------------------------------------------------------------------------------------- |
|
According to the reports, Brazilian miner Vale''s disaster brought benefits to US steel stock.
The dam accident has disturbed the iron ore markets globally. Vale stock declined by 0.4%, and the benchmark iron ore prices soared by 20% from the end of January.
Contrarily it stimulated the US steel shares due to few impacts on US steel prices.
A prediction from Bank of America analyst, Timna Tanners, said that benchmark steel prices might increase by US$100/ton in the near future, and it might also bring up US steel stocks by about 30%, which hit a high point as March 2018. |
|
|
|
|
