BUZZ-US steelmakers rise after Trump claims victory

reuters11-06
BUZZ-US steelmakers rise after Trump claims victory

** Shares of U.S. steelmakers jump premarket after Donald Trump claims victory in U.S. presidential election

** Cleveland-Cliffs CLF.N up 12%, Nucor NUE.N and U.S. Steel X.N up 8%; Steel Dynamics STLD.O up 6% in low volumes

** Some analysts have noted in the run-up to the election that a Trump presidency may mean rising protections for the domestic steel industry

** U.S. Steel X.N rises despite Trump opposition to its $14.9 bln merger with Japan's Nippon Steel 5401.T

** Shares of steel companies in the United States have fallen this year on a sluggish pricing environment due to oversupply

** Alumina refiner Alcoa AA.N also up 2.7%

(Reporting by Abhijith Ganapavaram in Bengaluru)

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