A Down Day in Steel City
In this edition, energy analyst Joel South talks about AK Steel and the $60.9 million loss the company realized during the third quarter. The steel industry has seen better days, with the markets punishing materials every time the ubiquitous "global growth slowdown" phrase comes up. Slowing domestic and international shipments have led to a 7% drop in steel prices from the third quarter of 2011, but for AK Steel, it's the proximity to key inputs, met coal and iron ore, that is magnifying the company's losses.
The steel industry still has plenty of upside, but the volatility is expected to remain as long as slowing Chinese growth and European debt issues plague the news. If you're looking for solid ways to invest in expanding markets, you can still find room to do so domestically. Be sure to check out our free report 3 American Companies Set to Dominate the World. Click here to get your free copy before it's gone.
The article A Down Day in Steel City originally appeared on Fool.com.Joel South and Taylor Muckerman have no positions in the stocks mentioned above. The Motley Fool owns shares of ArcelorMittal. Motley Fool newsletter services recommend Nucor. Try any of our Foolish newsletter services free for 30 days. We Fools don't all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.