Steel Stocks Solid (X, SCHN, NUE)

The steel stocks are running today, as they have been since then Federal Reserve announced an additional $600 billion in quantitative easing last week, in an effort to boost economic growth. United States Steel Corporation X is up 95 cents this morning to $48.65, a gain of 2%. Volume is particualrly strong this morning, as it's already traded more than 7 million shares, just an hour into trading. The average volume is 12 million shares. Nucor Corporation NUE is up 1% this morning to $40.69, a gain of 41 cents. Volume isn't as heavy as it is in U.S. Steel, despite the strength in the sector. Schnitzer Steel Industries, Inc. SCHN is up 7 cents this morning to $52.90. Volume is slightly above average for this time of day, as it's traded just over 100,000 shares. Daily volume for the stock is just over 300,000 shares.