Coal news and updates

Shares of steel companies surged again Monday, after Morgan Stanley turned bullish on the sector, saying Donald Trump’s election win makes the sector investible for the first time in a decade.

 

Analyst Evan Kurtz said he believes President-elect Trump’s promises of increased infrastructure spending and trade protection could push the U.S. steel market into “meaningful undersupply” for the first time since the global financial crisis in 2008 to 2009.

 

While specificity and details are still scarce, “we believe Trump’s plans for infrastructure spending and trade protection, as two of the most digestible of his proposals, could be early in the queue,” Kurtz wrote in a note to clients. “These policies should benefit the U.S. steel industry by both adding to demand and curbing import supply.”

 

Source:marketwatch