When it comes to steel, traders know product price movement correlates with stock price movement. Steel mills know it, too. According to Axiom’s Gordon Johnson, this understanding drove ArcelorMittal SA (ADR) (NYSE: MT) to announce a $40- to $50-ton price increase. “These guys announce price hikes when there’s either real demand or things are very weak and they’re trying to stop prices from falling further,” Johnson told Benzinga. “I think in this case it’s the latter.” The timing is certainly suspect. By Johnson’s analysis, demand is weak, iron ore is down, scrap is down and falling, and inventories are high based on winter demand. A price surge “doesn’t make sense.” SourceThe price will go down to the lower edge of the rising wedge. $MT, Arcelor Mittal NY Registry Shares NEW / D