35.39 0.00 (0.00%)
After hours: 7:12PM EDT
|Bid||0.00 x 800|
|Ask||0.00 x 3000|
|Day's Range||35.06 - 35.86|
|52 Week Range||19.52 - 47.64|
|PE Ratio (TTM)||10.76|
|Earnings Date||Jul 23, 2018 - Jul 27, 2018|
|Forward Dividend & Yield||0.20 (0.55%)|
|1y Target Est||45.93|
U.S. steel prices won’t stop breaking away from those in Asia and Europe, in a rally driven by confusion about what Washington’s import tariffs will look like. The rise in U.S. prices has come ahead of the June 1 deadline for many major exporting countries to negotiate deals that would at least partially exempt them from the Trump administration's decision to impose steel import tariffs of 25%. This week, the benchmark U.S. Midwest price for hot-rolled coil broke above $890 a short ton for the first time since October 2008.
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.
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 (X.N) 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.
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.
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.
Zacks.com featured highlights include: United States Steel, Cleveland-Cliffs, KB Home and Banco Bilbao
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.
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.
Trade War Back On Already? Yesterday, futures were way up in the early morning and strength followed through for the whole day, with the S&P 500 (^GSPC) ending up 20 points and the Dow Jones (^DJI) up almost 300 on the back of news that the trade war between the United States and China was […] The post Market Rundown – Mixed Trade War Signals, Starbucks Clarifies, Comcast Going British, Italy Exasperates Brussels appeared first on Market Exclusive.
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. ...
As we learned in the previous article, last week, the United States and China held their second round of trade discussions. There seems to have been some progress—if only in principle—in addressing the widening trade deficit between the two countries. This year, China has also talked about opening up its financial (C) and automotive sectors (TSLA).
If you are looking to invest in United States Steel Corporation’s (NYSE:X), or currently own the stock, then you need to understand its beta in order to understand how itRead More...
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.
Shares of U.S. Steel Corp. dropped 1.1% and AK Steel Holding Corp. shed 2.6% in premarket trade Monday, after the Treasury Secretary Steven Mnuchin said over the weekend that the Trump administration would ...
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.
PITTSBURGH, May 18, 2018-- Today, United States Steel Corporation issued the following statement in response to the Department of Commerce's ruling on circumvention petitions filed by American steel producers ...
NEW YORK, NY / ACCESSWIRE / May 17, 2018 / U.S. markets closed up on Wednesday, as investors appear to shrug off fears of increasing interest rate and bond yields. The Dow Jones Industrial Average gained ...