AK Steel (AKS)

[detearing]

03:20 PM EDT, 08/16/2016 (MT Newswires) -- Steelmaker stocks including U.S. Steel (X), Cliffs Natural Resources(CLF) , AK Steel(AKS) and Nucor(NUE) were lower Tuesday after Axiom Capital warned that iron-ore prices could crash as soon as the next four to eight weeks, Barron's reported.

Axiom Capital cited four reasons to justify its claim: a growing iron ore supply, record high speculation in China's iron ore futures market, a peak in China's port stocks and declining demand for iron ore.

The firm said it expects iron ore prices to fall to below $40 per metric ton and eclipse lows set earlier this year.

Price: 21.73, Change: -0.57, Percent Change: -2.57

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