BlueScope Steel bull Jefferies expects the data-center buildout to help keep the U.S. steel market tight. Jefferies' assumptions for the infrastructure buildout point to an incremental 2 million metric tons of steel demand annually by FY 2030, or about 3.5% of U.S. steel production, says the bank. "This further underpins spreads, with upside potential given tighter balance, providing a [favorable] backdrop for North Star until at least FY30," Jefferies says. It reiterates a buy rating on BlueScope, with a A$36.00 target. Shares are down 0.2% at A$30.35. (rhiannon.hoyle@wsj.com; @RhiannonHoyle)
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BlueScope Steel Bull Expects Data-Center Tailwind — Market Talk
BlueScope Steel bull Jefferies expects the data-center buildout to help keep the U.S. steel market tight. Jefferies' assumptions for the infrastructure buildout point to an incremental 2 million metric tons of steel demand annually by FY 2030, or about 3.5% of U.S. steel production, says the bank…