Saturday, August 25, 2007

Yesterday trading in favour for Steel and Iron industry.

Mittal Steel (NYSE: MT) which is traded also in Czech gained almost
8% to USD 64.34 and Nucor Corp. (NYSE: NUE) closed 7% higher at USD
55.11. This sector was sharply down during August. Both received
analyst upgrade from Merrill Lynch to buy. Target price for NUE is
seen at USD 65. With growing demand and rising steel prices together
with low PE valuation (around 10) these companies or some steel fund
or ETF I see as a good pick.


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