** J.P.Morgan cuts PTs on shares of Steel Dynamics STLD.O to $132 from $134, Nucor NUE.N to $152 from $168 and United States Steel X.N to $40 from $44
** Brokerage expects downbeat market commentary from steel companies during Q4 earnings as weak midquarter guides and inflation uncertainty have also weighed on shares during the quarter
** "With expectations already low, investors will be focused on signs of any green shoots for demand/pricing such as lead times/scrap costs as well as progress on growth initiatives" - JPM
** Brokerage says steel buyers who have remained on sidelines during quarter owing to excess inventory and seasonally weak demand, now await clarity on trade policy under the incoming Trump administration
** In 2024, NUE fell 32.9%, STLD fell 3.4% and X fell 30.1%
(Reporting by Aatreyee Dasgupta)
((Aatreyee.Dasgupta@thomsonreuters.com))
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