Nue, MTL, RIO were all down 2-3% PLUS. The market was down 200 points. The split probably did confuse and scare some sellers. There is no dilution in a split. Its worth half as much but you have twice as many shares now. The float is unchanged. The price of steel is going up fast. The recovery will be soon and upward from there. You are so right that the fundamentals are OK. It really would be a good dip to add more shares as this drop has no long term foundation.
Any split is more dilutive(as it always is) however more important is ROIC and P/E. EPS is always relative. ROIC and P/E figures remain the same. I'm looking for a bounce back Monday absent any other news.