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Steel Dynamics Could Set A New All-Time High, Soon

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Steel Dynamics (NASDAQ: STLD) received a downgrade from Morgan Stanley just hours before the company released its fiscal Q3 earnings report. In hindsight, it seems as though Morgan Stanley may have acted hastily with the downgrade because, in our view, this stock is going to new all-time highs very soon. Morgan Stanley’s reason for the downgrade is because of steel pricing, pricing that they think has peaked although Steel Dynamics still sees a favorable environment. According to Steel Dynamics outlook, the company sees a fundamentally strong year ahead and one supported by high demand and strong pricing.

"Current market conditions are in place to support solid domestic steel demand for the fourth quarter and into 2022," said Millett. "Order entry activity continues to be robust across our businesses. We........

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