AKS - Nucor: American Steel At Its Finest
Investors seem to have an awful habit in the steel industry to go chasing levered firms with sketchy performance histories: AK Steel (AKS) and US Steel (X) being perennial favorites that exhibit those traits. While the chickens have come home to roost for AK Steel after its outlandish rally - US Steel should likely not be far behind in returning to more rational levels - that does not mean that all areas of publicly-traded steel are off limits. In fact, far from it. Quality smaller operators in this space like Steel