FRANKFURT (dpa-AFX Broker) - Following a buy recommendation from the Metzler bank, shares in Klockner & Co initially jumped to 6.62 euros on Friday. However, at the highest level since mid-October, some investors said goodbye to the steel trader's shares again. By midday, they were only up 1.8 percent at 6.36 euros. This threatens a false breakout in the price chart.

Fundamentally, however, analyst Thomas Schulte-Vorwick currently sees potential up to EUR 8.70. "The improved US price outlook is a price driver," he wrote in his latest study. In recent weeks, there has been an increasingly positive trend in prices for hot-rolled steel (HRC), which have already risen by more than a third on the spot market since mid-September. Scarce supplies and robust demand in North America are likely to fuel the trend further./ag/mis

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