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ALSO READ: 6 Oil and Gas Stocks Analysts Want You to Buy Now. United States Steel Corp. (NYSE: X) saw its price target raised to $15 from $7 in the Barclays call. Merrill Lynch raised its price objective to $9 from $1 to reflect a sharp EBITDA recovery from higher selling prices and as valuations remain at a trough.
There is not much to report with regards to scrap metal pricing since our last update. Steel pricing we likely stay flat this month, but there is the possibility of a very small drop. Our current sheet iron price is $85/ton. There is still no certain answer as to if/when prices will start to climb again.