|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's Range||37.01 - 37.59|
|52 Week Range||27.86 - 39.62|
|PE Ratio (TTM)||N/A|
|Expense Ratio (net)||0.35%|
Iron ore prices in 2017 were characterized by elevated volatility. The iron ore price (XME) average in February up to February 21 was $76.8 per ton. Ahead of the holiday week in China, iron ore prices kept rallying on optimism about the global demand for raw materials.
On the 4Q17 earnings call, Kevin Bradley, U.S. Steel Corporation’s (X) CFO, said the company is “committed to strengthening the balance sheet.” He also talked about derisking the balance sheet and touched upon the redemption of $200 million of secured debt in 4Q17.
During their 4Q17 earnings call, Roger Newport, AK Steel’s (AKS) CEO, noted that in 2017 the company “took actions to strengthen our balance sheet by refinancing $680 million of our debt. The company also outlined a long-term strategic plan under which it would work toward generating an economic profit, assuming its weighted average cost of capital of 10.5%. Under its transformation strategy (XME), among other targets, U.S. Steel Corporation (X) is also working to generate an economic profit.
The Federal Reserve released its industrial production report for December on February 15. The report indicated that industrial production fell 0.1% in January as compared to a 0.9% increase in December. The Industrial Production Index tracks the manufacturing (XLI), gas and utilities (XLU), mining (XME), and electric sectors.
An exchange-traded fund tracking metal and mining companies rallied on Friday, after the Commerce Department recommended tariffs on major metal imports. The SPDR S&P Metals & Mining ETF jumped 3.1% and ...
In this article, we’ll see what leading steel companies had to say about their shipment guidance. Jaime Vasquez, AK Steel’s (AKS) CFO, said during the company’s 4Q17 earnings call, “We estimate that our first quarter flat-rolled steel shipments will be marginally higher compared to the fourth quarter of 2017.” While the company expects a 15% sequential increase in its automotive shipments, it expects its shipments in distributor markets to fall in 1Q18 as a result of an outage at its Middletown Works plant. Among other steel companies, U.S. Steel Corporation (X) expects its 2018 flat-rolled steel shipments to be flat compared to 2017 at ~10 million tons.
The “Job Openings and Labor Turnover Survey” (or JOLTS) data for December was reported on February 6 and contains information about job openings and total separations. The total number of separations include layoffs, retirements, and voluntary quits. As per the latest JOLTS report, total separations for December were 5.2 million, which is 3.6% of the total workforce.
Can Cleveland-Cliffs Reverse Its Underperformance in 2018? Iron ore prices showed a lot of volatility in 2017, which is continuing well into 2018. The Chinese iron ore futures market is also reflecting strength evident in spot prices.
Steel stocks haven’t been spared in the recent sell-off. Most steel stocks have pared their 2018 gains. Looking at individual names, U.S. Steel Corporation (X) and Nucor (NUE) are trading almost flat based on the closing prices on February 6.
For commodity producers like Alumina Limited (AWC) and South32 (S32), the macro outlook is equally if not more important than the company’s relative position in the industry. Along with trade action, any actionable thrust on infrastructure investments could boost US aluminum demand and potentially benefit US aluminum producers.
As noted in the previous article, Alcoa’s (AA) valuation multiples are on the lower side as compared to some of the other aluminum producers. In this article, we’ll see what analysts are projecting for Alcoa’s 2018 earnings and compare these estimates with the company’s guidance. According to the consensus estimates compiled by Thomson Reuters, analysts expect Alcoa to post adjusted EBITDA (earnings before interest, tax, depreciation, and amortization) of $2.5 billion in 2018.