Jefferies Financial stated that steel prices are near the bottom, and it is expected that infrastructure-related demand will rebound after the second half of 2024 or after the U.S. presidential election in 2025. It is expected that the outlook comments for the third quarter will be cautious. The preferred options are still ArcelorMittal, Cleveland-Cliffs, and United States Steel, with all rated as 'buy'. The report stated that ArcelorMittal is in a favorable position and will benefit from the demand, restocking, and steel price increases in 2025, while negative factors such as the Mexican strike and recent market weakness are reflected in the stock price.
杰富瑞：钢铁价格已接近底部 需求复苏可能会推迟至2025年
Jefferies Financial: Steel prices are near the bottom, and demand recovery may be delayed until 2025.
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