|Bid||6.03 x 2500|
|Ask||6.49 x 20000|
|Day's Range||6.16 - 6.50|
|52 Week Range||4.00 - 10.26|
|PE Ratio (TTM)||35.14|
|Earnings Date||Jan 30, 2018|
|Forward Dividend & Yield||0.00 (0.00%)|
|1y Target Est||6.75|
Cleveland-Cliffs (CLF) achieved US volumes of ~5.9 million tons in 3Q17, an increase of 11% year-over-year (or YoY). While the company achieved strong volume growth in 3Q17, its outlook for 4Q17 was weaker.
Steel prices are the key driver of steel companies’ profitability. For instance, steel prices tend to be strong in the first half of the year on strong domestic demand and inventory restocking. For instance, in 2015, steel prices were weak throughout the year.
Have US Steel Stocks Front-Loaded Their 2018 Gains? Last year, the Trump administration ordered a Section 232 investigation to assess whether steel imports threaten US national security. Now, the Commerce Department has submitted its findings to President Trump.
Steel stocks are having a strong month. Based on January 12 closing prices, U.S. Steel Corporation (X) and AK Steel (AKS) have respectively gained 11.2% and 9.3% this month. Nucor (NUE) and Steel Dynamics (STLD) have also seen upward price action of 8.5% and 9.0% so far this month, respectively.
The Zacks Analyst Blog Highlights: Guggenheim S&P SmallCap 600 Pure Value ETF, Guggenheim S&P MidCap 400 Pure Value ETF, Bill Barrett, AK Steel Holdings and Huntsman
US Steel Industry’s 2018 Outlook: Can the Momentum Continue? Higher Chinese steel exports have been blamed for the global steel industry’s woes. November was the 15th consecutive month in which Chinese steel exports registered a yearly decline.
US Steel Industry’s 2018 Outlook: Can the Momentum Continue? As we noted previously, the outlook for US steel demand (X) (AKS) seems fairly bullish this year. Since China is the world’s largest steel consumer (CLF), the country’s steel demand tends to impact global steel markets.
US Steel Industry’s 2018 Outlook: Can the Momentum Continue? In the previous part, we looked at the different factors that could deter the Trump administration from taking stringent action against steel imports. Although several economists have warned that import safeguards could do more harm than good, President Trump might not want to go back on a key electoral plank of protecting US manufacturing.
NEW YORK, NY / ACCESSWIRE / January 10, 2018 / Shares of AK Steel Holding Corporation tumbled on Tuesday with a dramatic increase in trading volume. Negative remarks from firm Jefferies sent shares into ...
Stocks with market capitalization between $2B and $10B, such as AK Steel Holding Corporation (NYSE:AKS) with a size of $2.09B, do not attract as much attention from the investing communityRead More...
US Steel Industry’s 2018 Outlook: Can the Momentum Continue? As we noted previously, US steel stocks had a somber 2017. The year would have been even more lackluster for US steel stocks without the rally in December.
According to the World Steel Association, 6.7 million tons of crude steel were produced in the US in November 2017 compared to 7.0 million tons in October 2017.