Nucor Corp

NYSE:NUEUnited States

1145 ET - Prices for hot-rolled coil steel have fallen roughly 18% in the past six months -- and have stayed relatively flat in the past month as the market waits for developments on several fronts, Jefferies says in a note. "Global steel markets seem to be in a holding pattern, waiting on U.S. elections, the details on China stimulus measures, and the lagged benefit of lower rates feeding through to construction, where sentiment is still poor," analysts say. China's economic stimulus plans have only given steel prices there temporary spikes, and in the U.S. producers like Nucor are treading cautiously ahead of what's seen as a deadlocked Presidential election -- despite neither candidate being expected to notably affect U.S. steel industry fundamentals, Jefferies says. (kirk.maltais@wsj.com)