|Bid||62.23 x 1200|
|Ask||65.50 x 800|
|Day's Range||63.66 - 64.47|
|52 Week Range||51.67 - 70.48|
|PE Ratio (TTM)||15.61|
|Earnings Date||Jul 18, 2018 - Jul 23, 2018|
|Forward Dividend & Yield||1.52 (2.42%)|
|1y Target Est||75.60|
After Donald Trump was elected president in 2016 on a pledge to "Make America Great Again" and revive the country's old industrial heartland, Dave Chrusciel hoped someday to return to his previous job at the steel mill here in this southern corner of Illinois. Chrusciel, 61, is one of around 500 workers United States Steel Corp is re-hiring or recruiting as it readies for production in mid-June at a blast furnace it idled in 2015. Chrusciel and Granite City are among the winners as the Trump administration fights a multi-front war to reshape U.S. trade policy.
Have President Trump’s Tariffs Failed US Steel Companies? On April 30, President Trump extended the Section 232 exemptions another month. As quoted by CNBC, the statement on the exemptions said, “The Administration is also extending negotiations with Canada, Mexico, and the European Union for a final 30 days.
As noted in the previous part, US steel imports have risen sharply in the last two months despite President Trump imposing the Section 232 tariffs. Looking at product specific action, rebar imports more than doubled last month. Nucor (NUE) is investing in new rebar capacity. Earlier this year, Commercial Metals Company (CMC) acquired some of Gerdau’s (GGB) US rebar mills.
According to preliminary data released by the United States Census Bureau, the country imported 3.4 million metric tons of steel products in April. In comparison, US steel imports stood at ~3.0 million metric tons in April 2017. Notably, steel imports rose on a yearly and a sequential basis last month. US steel imports have risen on a monthly basis for the second consecutive month.
As noted previously, US steel prices have settled at higher levels after rising sharply in the first quarter. However, the rises in US steel producers’ first-quarter earnings weren’t commensurate with the sharp gains in spot steel prices. The disconnect isn’t difficult to explain. There’s a lag between steel companies booking their sales and the steel getting shipped to the buyer.
Does the US Steel Industry Look Healthy This Month? President Donald Trump has exempted several regions from the stringent Section 232 tariffs that were imposed on national security grounds. While countries such as Canada, Mexico, Brazil, and Germany managed to get exemptions, Japan was a notable exception.
Does the US Steel Industry Look Healthy This Month? The Section 232 temporary exemptions that were extended by President Donald Trump on April 30 are set to expire by the end of this month. As quoted by CNBC, the statement on the exemptions said, “The Administration is also extending negotiations with Canada, Mexico, and the European Union for a final 30 days.” By stating the word “final,” the Trump administration seems to have put pressure on the exempted countries.
Steel demand is among the key indicators investors should track. The construction and automotive sectors are the two largest steel end consumers. In this article, we’ll discuss how US steel demand is shaping up.
Under observation today are these four equities: Gerdau S.A. (NYSE: GGB), India Globalization Capital Inc. (NYSE AMER: IGC), Nucor Corp. (NYSE: NUE), and Reliance Steel & Aluminum Co. (NYSE: RS). On Tuesday, shares in Sao Paulo, Brazil-based Gerdau S.A. saw a slight decline of 0.43%, ending the day at $4.62.
As noted previously, spot steel prices have risen sharply this year and are currently at their highest level since 2011. Steel companies including AK Steel (AKS), Nucor (NUE), and ArcelorMittal (MT) expect their second-quarter earnings to rise sequentially as higher steel prices flow into their spot sales. U.S. Steel (X) also expects its earnings to rise in the second quarter.
As noted previously, U.S. Steel (X) is trading flat for the year. To be sure, steel market conditions had set the stage for a smart rally in steel stocks. To put things in perspective, US steel prices are currently at their highest level since 2011.
U.S. Steel (X) is having a dismal run this year. The stock is trading roughly flat for the year based on May 21 closing prices. The picture also looks scary for AK Steel (AKS), which has seen a negative price action of 21.2% so far in the year. Nucor (NUE) and Steel Dynamics (STLD) are trading with year-to-date gains of 3.2% and 17.5%, respectively. The SPDR S&P Metals and Mining ETF (XME) has gained 3.5% so far in 2018.
US steel stocks (XME) U.S. Steel Corporation (X) and AK Steel (AKS) are trading sharply higher today. Nucor (NUE) and Steel Dynamics (STLD) are also in the green. We saw a selling spree in US steel stocks yesterday as markets feared that China could also be exempt from the Section 232 steel tariffs.
In this article, we’ll look at the weekly US steel production data released by the AISI (American Iron and Steel Institute). According to AISI data, US steel production rose 1.7% YoY (year-over-year) in the week that ended on May 12.
The first-quarter earnings season for US steel investors is largely over. Steel companies, including U.S. Steel Corporation (X), AK Steel (AKS), and Nucor (NUE), have released their first-quarter earnings results. U.S. Steel saw a selling spree after its earnings release, as its 2018 guidance and outlook didn’t go over well with the market.
The Zacks Analyst Blog Highlights: Western Digital, Magna International, Nucor, Sony and Caterpillar
The U.S. Commerce Department on Monday slapped steep import duties on steel products from Vietnam that originated in China after a final finding they evaded U.S. anti-dumping and anti-subsidy orders. The decision marked a victory for U.S. steelmakers, who won anti-dumping and anti-subsidy duties against Chinese steel in 2015 and 2016 only to see shipments flood in from elsewhere. U.S. customs authorities will collect anti-dumping duties of 199.76 percent and countervailing duties of 256.44 percent on imports of cold-rolled steel produced in Vietnam using Chinese-origin substrate, the Commerce Department said in a statement.
The U.S. Commerce Department on Monday slapped steep import duties on steel products from Vietnam that originated in China after a final finding they evaded U.S. anti-dumping and anti-subsidy orders. U.S. ...
US stocks are trading higher today following constructive US-China trade talks. Notably, US-China trade friction has been among the key factors driving markets lower this year. While broader market indices including the Dow Jones Industrial Average (DIA) are in the green today, steel stocks are taking a beating. U.S. Steel Corporation (X) and AK Steel (AKS) are down sharply. Nucor (NUE) and Steel Dynamics (STLD) are also trading lower.
In this final part of the series, we’ll see how the markets are valuing Cleveland-Cliffs (CLF) stock compared to its peers and the historical multiple.
Cleveland-Cliffs (CLF) stock has been on a roller coaster ride for most of 2018. While CLF stock has seen a lot of volatility in 2018, it’s making a strong upward move in the second quarter on strong fundamentals.
Zacks.com highlights: Nucor, Lithia Motors, Grand Canyon Education, Boeing and Marriott International