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Options traders bet on U.S. steel stocks ahead of tariffs decision

FILE PHOTO - Iron workers install steel beams during a hot summer day in New York, July 17, 2013.

Traders in the options market are betting that shares of U.S. steel makers will get a boost when the U.S. Commerce Department unveils findings from its investigation into cheap steel imports, according to data and analysts on Friday.

The investigation was ordered by President Donald Trump in April under the rarely used section 232 of the Trade Expansion Act of 1962 and could clear the way for restrictions on steel imports.

U.S. Secretary of Commerce Wilbur Ross is expected to announce the outcome of the steel inquiry after Trump has spoken with G20 leaders at the July 7-8 summit in Germany.

A decision that results in a material reduction in the current level of domestic steel imports...