AK Steel Holding Corp
Latest AK Steel Holding Corp News and Updates
Why the capacity utilization rate came down at Steel Dynamics
One of the key metrics in the steel industry is the capacity utilization rate. It represents the actual production compared to the maximum possible production.
How to Counter China: Steel Could Show the Way
China (FXI) exported 5.56 million metric tons of steel in December, a yearly fall of 1.9%.
Analysts Still Hate Steel Stocks despite Bumper Earnings
Overall, it has been a mixed earnings season for steel companies.
US Steel Production Disappoints and Declines 7.2%
The AISI releases the weekly steel production figures. Steel production in the US has declined 7.2% YoY in the first five months of this year.
What Should You Expect from U.S. Steel’s 1Q18 Earnings?
1Q18 earnings season is in full swing. So what should you expect for U.S. Steel?
Why Cliffs Raised Guidance for US Volumes
US iron ore (or USIO) is the main driver for Cleveland-Cliffs’s (CLF) top and bottom lines.
AK Steel Could Face Challenges in Meeting Its Goals
AK Steel is working towards stable margins throughout the business cycle. AK Steel has deliberately lowered its exposure to spot markets (X) (CLF).
Steel Imports Reach Record Levels In October
Compared to the first ten months of last year, steel imports are up by more than 35%. This is an alarming situation.
Will President Trump’s Pressure Tactics Work Out?
In March 2018, President Donald Trump imposed a tariff of 25% on steel imports. What’s happened since?
Must-know: Key risks that AK Steel investors face
The increased use of aluminum in vehicles is a threat for AK Steel (AKS). The automotive industry accounts for ~26% of steel consumption in the U.S.
What Weighed down AK Steel’s 3Q17 Performance?
AK Steel (AKS) reported adjusted EBITDA of $69.2 million in 3Q17, compared with $142 million in 2Q17 and $157 million in 3Q16.
Nucor Looks to Contract Resets to Further Improve Performance
Nucor (NUE) expects its 3Q16 performance to improve as compared to 2Q16. The key driver of Nucor’s 3Q16 performance would be the reset of contracts.
U.S. Steel Faces A Tough Year With Rig Counts On A Downward Spiral
Let’s first consider why investors should monitor rig counts. Well, rig counts tell you how many rigs are currently active for drilling.
Why the outlook for US Steel’s tubular goods is positive
With the recent imposition of anti-dumping duties, imports of tubular goods will likely decrease, helping U.S. Steel’s revenue in the tubular segment to increase.
Inside AK Steel’s Valuation: Analyzing 2018 Drivers
U.S. Steel (X) has the lowest forward valuation multiple in our coverage of steel stocks. The stock is trading at 4.97x its 2018 consensus EBITDA.
Key takeaways from Nucor’s 3Q14 cost structure
Due to an increase in electricity costs, Nucor’s energy cost per ton of steel in 3Q14 went up by almost $1 from the corresponding quarter last year.
It’s Raining Cash for U.S. Steel amid Strong Markets
AK Steel (AKS) generated free cash flow of $147.0 million in 2Q17 compared to $3.8 million in 1Q17. It generated free cash flow of $111.0 million in 2Q16.
Can U.S. Steel’s Asset Revitalization Plan Spark Its Stock?
U.S. Steel (X) expects its slab production capacity to increase by 1.0 million tons by 2020 from the current level of 10.0 million tons.
Why US Steel Companies Could Benefit from Lag Pricing in 4Q16
Steel companies such as U.S. Steel (X), Nucor (NUE), and ArcelorMittal (MT) sell their products in the spot market or under contract sales.
Key Indicators US Steel Investors Should Track in 3Q17
Steel stocks have been consolidating for the last few trading sessions. But so far, they’re having a tepid year.
US Steel in Q2 2018: Guidance, Analysts’ Actions, and Trump
Despite President Trump’s tariffs on imported steel, US steel stocks—with the exception of Steel Dynamics—have sagged this year.
Why China Is Finding It Difficult to Export Its Steel Woes
China’s steel and aluminum overcapacity has earned it the ire of several countries.
ArcelorMittal’s 4Q17 Earnings versus U.S. Steel
Previously in this series, we’ve compared steel companies’ 4Q17 shipments and average selling prices (or ASPs).
New Probe Shows Fault Line in Trump’s Tariffs
After the imposition of Section 232 steel and aluminum tariffs last year, several observers warned that we could see a spike in downstream imports.
Outlook for Chinese Steel: Implications for US Steel
China is the world’s largest steel consumer, steel producer, and steel exporter. It dominates the global steel markets probably like no other country ever has.
Chinese Steel Production: Will We See Curtailments This Year?
Previously in this series, we looked at China’s steel demand indicators. It’s also important for investors to look at the supply side of the equation.
Can Falling Scrap Prices Drive US Steel Prices Lower?
Integrated miners like U.S. Steel and ArcelorMittal use primarily iron ore, whereas minimills like Nucor and Steel Dynamics rely more on steel scrap.
Why US Steelmakers’ Party Might Not Last Long
Due to trade cases, the US steel industry has turned into a virtual island largely immune to global steel prices—at least in the short term.
What Could Do the Trick for US Steel Prices
Bank of America Merrill Lynch has raised its 2017 hot rolled coil steel forecast to $700 per ton. The brokerage also upgraded U.S. Steel (X) from a “neutral” to “buy.”
What Do Current Market Dynamics Suggest for U.S. Steel’s Guidance?
Despite its cost headwinds, U.S. Steel (X) expects to post EBITDA of $1.3 billion in 2017.
January Steel Imports: Should We Cheer or Worry?
Steel executives have been regularly blaming the steep rise in US steel imports as the main reason for their woes. Last year, three companies presented their cases before members of Congress.
Must-know: The biggest risk US steel companies face
Strong steel demand should turn into higher revenues for U.S. steel companies. However, rising imports have impacted steel demand.
Steel Companies Tone Down Expectations after Steel Price Rout
U.S. Steel (X) lowered its 2018 EBITDA guidance due to the recent correction in spot steel prices.
AK Steel Hovers above 2015 Lows: Still among Steel’s Worst
AK Steel (AKS) is still marginally above its 2015 lows. But it’s still among the worst performing steel companies in 2015.
Iron Ore Pricing Pressures Likely to Persist
Almost all of the iron ore miners are cutting costs, which is driving the cost curve down. This will put additional pressure on prices.
Can AK Steel’s Second-Quarter Earnings Call Reassure Investors?
During AK Steel’s second-quarter earnings call, analysts could be closely watching the company’s ASP (average selling price) guidance.
US Steel Demand: 2018 Could Be a Strong Year
If the Trump administration moves forward on the proposed infrastructure investments, it could boost US steel demand.
What Could Lift U.S. Steel Corporation Stock from Its Slump?
Although global steel prices have weakened this year, steel bulls expect the probe into steel imports to provide some sort of relief for US steel plays.
Must-know: Does the slowdown in Europe impact your investments?
The GDP figures in the second quarter raised fears about the European Union’s sustainability growth. The ECB recognized the severity of the situation.
Weekly Roundup: Steel Stocks Saw Their Fortunes Reverse
Last week was mixed for steel stocks—they followed different trajectories. With gains of 6.6%, AK Steel (AKS) was the biggest gainer.
U.S. Steel or AKS: Which Is a Better Play on Spot Steel Prices?
Almost 60% of U.S. Steel’s US flat steel sales are either spot or have monthly or quarterly resets and would enjoy the benefits of higher spot steel prices.
How Analysts Are Rating Steel Dynamics ahead of Its 3Q17 Earnings
Steel Dynamics (STLD), the third largest US-based steel producer after Nucor (NUE) and U.S. Steel (X), is expected to release its 3Q17 earnings on October 18.
United States Steel: 1Q17 Was Terrible, but Could 2Q17 Be Better?
Analysts expect United States Steel to post revenues of $2.98 billion in 2Q17. It posted revenues of $2.72 billion in 1Q17 and $2.58 billion in 2Q16.
Steel Stocks Recoup Losses after MT’s Earnings Lift Sentiments
Last week started on a positive note for most steel stocks, with most seeing upward price action on Monday. But sentiments were mostly negative after that.
Should the Fall in Chinese Steel Prices Worry AK Steel?
China is the world’s largest steel producer, consumer, and exporter. Last year, we saw a steep rally in Chinese steel prices.
AK Steel’s Outlook Looks Gloomy after Earnings Miss
AK Steel (AKS) reported its third-quarter earnings on October 25 after the markets closed. The company reported revenues of $1.74 billion.
China’s April Trade Data: What It Means for Metal Investors
China released its April trade data on May 8. The data weren’t received well by investors. Asian markets were trading lower in early trade.
What to Expect from Cleveland-Cliffs’ 3Q17 Earnings
Cleveland-Cliffs (CLF) is scheduled to release its 3Q17 results before the US market opens on October 20. In this series, we’ll look ahead to CLF’s earnings and management call.
Cleveland-Cliffs’ Q2 2018 Earnings: What to Look Forward To
Cleveland-Cliffs (CLF) will release its second-quarter results before the market opens on July 20.
Steel Companies’ Third-Quarter Guidance: Key Takeaways
During the second-quarter earnings call, U.S. Steel Corporation raised its 2018 EBITDA guidance to $1.85 billion–$1.90 billion.
Why the Chinese slowdown concerns steel plays the most
China is the biggest steel consumer. It accounts for almost half of global steel consumption. The slowdown in Chinese steel consumption isn’t a healthy sign for global steel markets.
Cash Flows Improve for US Steel Industry in Challenging Market
Of the three forms of cash flow, operating cash flow is the most important for a company. Let’s explore the trend in various steel companies’ cash flow metrics in 2Q15.
US Steel to China: Where Are the Capacity Cuts?
Earlier this year, China announced capacity cuts in order to curtail its excess steel. The same commitment has been reiterated by China several times.
What Makes Nucor Optimistic about Its Automotive Shipments?
Nucor has been increasing its presence in the automotive sector over the last couple of years.
Why U.S. Steel Investors Should Brace for Higher Input Costs
U.S. Steel Corporation (X) produces steel in blast furnaces and uses coking coal and iron ore (CLF) as raw material.
Inside Cliffs Natural Resources’ Solid 4Q16 Earnings, Big Stock Surge
Cliffs Natural Resources’ results for 4Q16 were hugely positive and beat the market expectations by a wide margin.
Must-Know: US HRC-CRC Spread Widens to Record Highs
During its 2Q16 call, AK Steel (AKS) pointed to a “significant rise” in CRC steel imports from Turkey, Vietnam, and Australia.
Falling Car Sales and Waning Trump Effect Spell Trouble for AKS
AK Steel (AKS) has been among the worst-performing steel stocks (MT) (STLD) in 2017 with year-to-date losses of more than 46% as of May 17.
US Steel Mills Maintain Supply Discipline: Will It Help?
According to data released by the American Iron and Steel Institute, US steel production fell 4.9% YoY (year-over-year) in the week ended September 24, 2016.
What’s Driving the Current Uptrend in US Steel Prices?
Spot steel prices in the US (DIA), especially in the flat-rolled segment, have risen over the last month.
AK Steel’s 1Q17 Earnings Call: What Really Spooked Investors
AK Steel expects its 2Q17 average selling prices to be “marginally higher” compared to 1Q17. However, AK Steel could witness higher costs in 2Q17.
How Do US Steel Industry Indicators Look amid 3Q16 Earnings?
By analyzing how steel industry indicators are shaping up, you can get a sense of how steel companies could perform beyond the current quarter.
What Can Investors Expect from Steel Companies’ 2Q15 Earnings?
AK Steel and U.S. Steel are expected to post a loss in 2Q15. U.S. Steel’s earnings have been hit because its tubular segment hasn’t been doing well.
How Will Steel Prices in the US Impact Cliffs’ Realized Revenues?
US steel has seen a change in fortunes this year. Trump’s win has been a positive catalyst for the industry.
Revisiting the Case: How Does Cleveland-Cliffs Look Now?
Cleveland-Cliffs (CLF) has witnessed a turnaround of sorts in the last four years.
What to Watch for in ArcelorMittal’s 3Q16 Earnings Call
During the 3Q16 earnings call, markets will wait for updates from ArcelorMittal on its negotiations with automotive customers.
Analysts Maintain the Status Quo on Steel Stocks
Overall, the third quarter has been a subdued earnings season for steel companies (SPY). Nucor’s earnings fell short of analysts’ expectations.
Can ArcelorMittal’s 3Q17 Earnings Boost Steel Market Sentiments?
AK Steel (AKS), which released its earnings on October 31, fell 21.5% after its 3Q17 earnings release.
U.S. Steel Corporation: Its Earnings Beat Might Impress You
U.S. Steel Corporation (X) released its second-quarter earnings on August 1 after the market closed. Its revenues were $3.6 billion.
What Could Hamper the Momentum in US Steel Prices?
Due to a seasonal uptick in steel demand and better-than-expected demand from the construction sector, Chinese steel prices got a boost.
Inside Cliff’s Earnings in 2017: What Will Drive Analysts’ Earnings Estimates?
In the past year, analysts have raised their revenue projections for Cliffs from ~$1.8 billion to ~$2.0 billion for the year.
Why investors need to understand the correction in metal shares
Metal shares have had a dream run since mid-2013. Specifically, steel companies’ shares have been defying all the laws of gravity.
Will Falling Steel Production in Europe Affect ArcelorMittal?
The EU saw the biggest decline in steel production in February as compared to other major steel-producing countries.
CLF Cautions: How Are Analysts Leading after the Recent Run-Up?
Cliff’s Natural Resources has long-term contracts with US steelmakers and is thus affected more by what’s happening in US steel than in seaborne iron ore.
What Does Cliffs Natural Resources’s Valuation Multiple Suggest?
Cliffs Natural Resources (CLF) is trading at a forward EV-to-EBITDA multiple of 13.2x, compared to its last-five-year average of 9.6x. Its stock price has risen 40% in the last month.
Why ArcelorMittal Stock Is Popular among Analysts
On July 6, Macquarie initiated coverage on ArcelorMittal with a “outperform” rating and target price of 30 euros.
How U.S. Steel’s 2Q17 Performance Stacks Up against Its Peers
It’s been a mixed earnings season for steel investors. Nucor and Steel Dynamics missed consensus earnings estimates. AK Steel and U.S. Steel posted better-than-expected earnings.
Nucor’s Strong Position in the Challenging Steel Market
The steel market has been challenging in 2015—prices crashed due to Chinese exports. But Nucor’s financial strength and high profit margins helped it cope.
What Might Cliffs’ Valuation Catalysts Be in 2017?
Cliffs Natural Resources (CLF) is trading at a forward EV-to-EBITDA multiple of 12.9x, compared to its trailing-five-year average of 9.6x.
Iron Ore and Steel Scrap Prices Diverge after Section 232 Tariffs
Iron ore and steel scrap are the key steelmaking raw materials. In the United States, steel prices and scrap prices tend to move in tandem.
Cliffs’ Recommendations after 4Q16: Why Analysts Have Turned Bullish
Cliffs has “buy” and “sell” recommendations from 22% of analysts each, while 56% of the analysts are recommending a “hold.”
What’s the Real Issue Plaguing the US Steel Industry?
The US steel industry (X) (AKS) (NUE) lists “unfairly traded steel products” as its biggest woe.
How Does Cliffs’s Competition Look Post-ArcelorMittal Contract?
Cliffs Natural Resources (CLF) is the largest and lowest-cost supplier of iron ore pellets in the United States.
3 Things That Will Affect Steel Imports In 2015
The growth in steel imports in 2015 could be less spectacular. There are several reasons for this outlook. Let’s discuss them in detail.
Behind ArcelorMittal’s 1Q17 Call: What the Market Is Eager to Hear
During its 1Q17 earnings call, the market will look for ArcelorMittal’s commentary on the steel price outlook.
Why the Outlook for US Steel Prices Is Bright beyond 4Q17
While US steel prices rose to a high of $660 per ton in March 2017, they fell to $580 per ton in June.
How Analysts Are Rating ArcelorMittal Ahead of Its 2Q17 Results
ArcelorMittal’s 2Q17 earnings ArcelorMittal (MT), the world’s largest steelmaker, is scheduled to release its 2Q17 earnings on July 27. Analysts polled by Thomson Reuters expect the company to post revenue of $17.4 billion in 2Q17. ArcelorMittal posted revenue of $16.0 billion in 1Q17 and $14.7 billion in 2Q16. ArcelorMittal’s 2Q17 EBITDA (earnings before interest, tax, […]
Analyzing China’s Steel Demand Indicators
China’s automotive sales fell in July. According to the China Association of Automobile Manufacturers, China’s vehicle sales stood at ~1.89 million vehicle units.
U.S. Steel Corporation’s 1st-Quarter Conundrum Continues
U.S. Steel Corporation released its 1Q18 results yesterday after markets closed.
What Analysts See in Cliffs Natural Resources under Trump’s Presidency
US steel prices and order books for customers are the major revenue drivers for Cliffs Natural Resources’s (CLF) US division.
ArcelorMittal’s 3Q16 Earnings: What’s the Word on Wall Street?
ArcelorMittal (MT), the world’s largest steelmaker, will release its 3Q16 earnings on November 8. It has been a remarkable year for the company.
Wall Street’s Steel View: Which Steel Stocks Analysts Are Eyeing
U.S. Steel (X) has received a “buy” rating from 51% of its analysts, while 13% analyst recommend a “sell.”
US Steel Stocks in Line of Fire as Trump Takes on China
President Trump has hardened his stance on trade issues, threatening tariffs on billions of dollars of Chinese goods.
How Does ArcelorMittal’s Valuation Look ahead of 2Q17 Earnings?
In this article, we’ll look at ArcelorMittal’s (MT) valuation multiples ahead of its 2Q17 earnings.
Understanding Cliffs’ New Estimates: Why Are Iron Ore Analysts Second-Guessing?
Most of Cliffs Natural Resources’ (CLF) revenues and earnings are derived from its US steel division. This makes its drivers unique among peers.
Does U.S. Steel’s Turnaround Look Real This Time?
China exported 8.1 million metric tons of steel in November 2016, a fall of 16.0% YoY (year-over-year). Its exports fell 14.6% YoY in October.
US Steel Stocks Pop after China Tariff Scare
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.
3Q16 Earnings: Are Analysts Losing Patience with U.S. Steel?
3Q16 earnings Wall Street analysts update their target prices after a company’s quarterly earnings release. After U.S. Steel Corporation’s (X) 3Q16 earnings release, several leading brokerages slashed the company’s target price. Target price cut For instance, Credit Suisse, which was among the bullish brokerages on U.S. Steel, cut the company’s target price from $29 to […]
US Steel Industry’s Woes Are Far from Over
Most steel stocks continue to trade near 52-week lows. U.S. Steel Corporation (X) has fallen more than 70% year-to-date.
Does U.S. Steel Look Oversold after the Recent Sell-Off?
Based on its September 16, 2016, closing price, U.S. Steel has a 14-day RSI of 27.5, which means it looks oversold, similar to other US steelmakers.