** Citigroup cuts price target of Steel Dynamics STLD.O to $145 from $160, Nucor NUE.N to $160 from $240 and Cleveland-Cliffs CLF.N to $11 from $12.5
** Citi says "2025 demand outlook is cloudy" and highlights whether U.S. steel demand will recover following three straight years of decline
** "Overall construction activity has improved, but steel demand appears to be more stable suggesting a less steel intensive mix," says Citi
** As of last close, the S&P 500 Steel Sub-Industry Index .SPLRCSTEEL had fallen 23.1% YTD
** Up to last close, CLF down 53%, NUE down 33%, while STLD slips 1.1% YTD
(Reporting by Rupali Chaudhary in Bengaluru)
((Rupali.Chaudhary@thomsonreuters.com))
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.