Who's Right? Steel Companies Or Everyone Else? (X, MT)

Arcelor Mittal MT and U.S. Steel X both reported weak earnings this morning, saying that the economic recovery isn't as rosy as other sectors are making it appear. We've gotten strong earnings and guidance from companies like Caterpillar CAT, CSX CSX, and Eaton ETN. This seems to contradict what the steel companies said this morning, so this begs to question. Who's right? Steel is used in every factor of industry, from construction to automobiles. Ford F reported blowout earnings this morning, causing more confusion among investors. Nucor was weak after earnings last week, and X and MT are significantly weaker today. It remains to be seen which sector is right. Place your bets and time will tell us who's right, and who's wrong. Disclosure: long CAT, CSX