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Steel Dynamics (STLD) Stock Slumps, KeyBanc Downgrades

NEW YORK (TheStreet) -- Shares of Steel Dynamics (STLD) were down early Friday afternoon after analysts at KeyBanc dropped their rating on the stock to "sector weight" from "'overweight."

The firm said it was "incrementally cautious" on the market prospects for U.S. carbon sheet.

KeyBanc sees risks in the upcoming months including slowing demand, stronger imports and a second new potential U.S. hot rolled coil steel producer.

In 2017, the firm anticipates a more competitive backdrop alongside added risks as a weakened prospective supply and demand balance pressures...