SLX - Global steelmakers face up to $518B in stranded asset risk - FT

Steelmakers stood out as one group of stocks that mostly missed out on Tuesday's broad rally, and a contributing factor may have been a report that the global steel industry could face writedowns of as much as $518B in stranded assets over the coming years because it is still building traditional blast furnaces, as reported by the Financial Times. Potentially relevant tickers include (NYSE:MT), (NYSE:X), (NYSE:CLF), (NUE), (STLD), (RS), (SLX) Countries have continued to announce new coal-based plants while at the same time setting tougher pledges to lower emissions, according to Global Energy Monitor, and as a result, coal-powered blast furnaces could become unnecessary or inoperable over time, leaving the sector with stranded assets worth $345B-$518B. The forecasts are well above previous estimates that see the stranded asset risk for the industry at as high as $70B. The global shift from traditional blast furnaces to electric arc furnaces is "too

For further details see:

Global steelmakers face up to $518B in stranded asset risk - FT