U.S. Steel Corporation Investors Should Look at Iron Ore Prices
Iron ore prices have been weak this month. U.S. Steel Corporation produces iron ore from captive mines in its US operations (NUE).
Steel companies like U.S. Steel Corporation (X), ArcelorMittal (MT), and AK Steel (AKS) use coking coal as an input for their blast furnaces.
Recently, the Indian Steel Ministry expressed concern about rising steel prices. It said that steelmakers shouldn’t be allowed to “exploit the country.”
The US is the world’s largest steel importer. The country’s steel imports totaled 30.9 million metric tons last year.
US steel imports have risen on a year-over-year basis for nine consecutive months. Nucor (NUE) lamented the steep increase in US steel imports.
Steel production is raw material–intensive in nature. Iron ore, steel scrap, and coking coal are the key raw materials that go into steel production.
Although HRC prices have historically been the benchmark for other grades of steel products, we have started to see some dislocation in US steel markets.
Steel prices are a key driver of steelmakers’ earnings. Investors in companies like Nucor and ArcelorMittal should keep track of spot steel prices.
The US steel industry is having a weak year despite a presumably supportive Trump Administration. There are doubts about the US steel industry’s health.
If China succeeds in manufacturing DRAM and NAND, it could flood the market with cheap memory chips and negatively impact Micron (MU), SK Hynix, and Samsung (SSNLF).
Micron Technology (MU) stock has increased 7% in the last six days and could cross its all-time high of $36.49 in the coming few days, as investors’ optimism has overshadowed their concerns.
Micron Technology’s (MU) stock price has been facing resistance at $32.00 due to investors’ concerns regarding the memory market’s cyclicality.
According to Weber’s report for week 37, the strong rise in VLCC demand evaporated. The September program seems to have come to an abrupt end.
In week 37, most of the crude tanker stocks traded in green. Only, Tsakos Energy Navigation and Euronav traded in red.
Cisco Systems’ (CSCO) EBITDA (earnings before interest, tax, depreciation, and amortization) in the last fiscal year were $15.1 billion, indicating that Cisco has an EBITDA margin of 31%. Analysts expect…
Cisco Systems’ (CSCO) current-year PE (price-to-earnings) ratio is 13.4x, and for the next year, this figure stands at 12.7x. Its price-to-sales ratio is 3.4x, and its price-to-EBITDA (earnings before interest,…
Cisco Systems (CSCO) currently has a dividend yield of 3.6%, or $0.29, which indicates an annualized dividend payout of $1.16. Cisco has a dividend payout ratio of 53.2%, and its…
In fiscal 2017, Cisco Systems (CSCO) reported revenue of $48.0 billion. Analysts expect the company’s revenue to rise 0.3% YoY (year-over-year) in fiscal 2018 to $48.2 billion and 1.8% YoY…
Cisco Systems (CSCO) has returned 6.5% since the start of 2017, and 5.5% in the trailing-12-month period. Cisco stock has risen 7.1% in the last month, and 1% in the…
Of the 27 analysts covering Cisco Systems (CSCO) stock, 18 have recommended “buy,” none recommended “sell,” and nine have recommended “hold.” Cisco’s average one-year stock price estimate is $35.73, and…