Friday, March 24, 2006

Steel stocks press on

Trading activity in Algoma Steel (TSX:AGA) was high this past week. Steel stocks continue to press north, with AGA out-performing the market by 32% over the past quarter. Industry consolidation factors into the market's buying pressure. Certainly, IPSCO Inc's (TSX:IPS) has set an impressive standard: it leads the S&P/TSX 60 stocks in 2006 performance and continues to reach new highs. Nevertheless, AGA traded much more actively this week in terms of Relative Volume and the Stock Trends Unusual Volume alert makes the stock especially interesting. Current price is $32.49.
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