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U.S. Steel to Invest in Value-Added Steel as Part of Carnegie Way
Value-added steel products sell at higher prices compared to standard steel products. This is also part of the Carnegie Way plan.
US Service Center Steel Buying Continues to Sag
Lower steel demand from service centers is negatively impacting steel companies’ shipments. Almost all steel companies expressed concern over the lower service center buying activity.
Why Does 2016 Look Bleak for the US Steel Industry?
Falling spot steel prices negatively impacted steel companies. However, steel companies face another challenge next year in terms of their contracted sales.
Global Steel Production Falls in May for Fifth Consecutive Month
Year-to-date, global steel production has gone down 1.9%. Production has dropped for five consecutive months. This points to a slowdown in the global steel industry.
ArcelorMittal Posts a Net Loss of $205 Million in 1Q15
ArcelorMittal (MT) released its 1Q earnings on May 7, 2015. It posted a net loss of $205 million in 1Q 2015.
Cliffs’ US Iron Ore Division: What Led to the Volume Downtrend?
Due to the state of the US steel industry, Cliffs Natural Resources decreased the volume guidance for its US iron ore by 1.5 tons to 20.5 tons.
AK Steel Posts 1Q 2015 Loss but Gets Better Average Selling Price
AK Steel makes almost 75% of its sales with contracts. Revenues from contract customers is less vulnerable to volatility in the spot market.
Analyzing the US Steel Industry: What Can Investors Expect?
US Steel demand had double-digit growth last year. However, the World Steel Association expects US steel consumption to be lower this year.
US Steel’s 1Q Shipments Fall on Production Cutbacks
US Steel’s 1Q shipments dropped by almost a quarter on a year-over-year basis.
China’s March Steel Exports Decline to Lowest Level in 8 Months
China’s steel exports registered a year-over-year (or YoY) decline of 15% in March.
Would the Cut in Bank Reserves Help China’s Steel Industry?
In March, Chinese exports declined by 15% on a YoY basis. The latest cut in bank reserves is another step by China (FXI) to address its slowing economy.
Is There an End in Sight for Worsening Steel Industry Indicators?
The steel industry indicators in 4Q14 failed to instill any confidence among analysts. Most steel companies have delivered negative returns in the stock market.
Worthington Industries: Growth Via Mergers and Acquisitions
Mergers and acquisitions are an integral part of Worthington’s growth strategy. It has acquired 18 companies since 2009.
Worthington Engineered Cabs Segment Sees Less Demand
Higher operating costs at the Florence plant is one of the reasons why the Engineered Cabs segment was losing money. The plant is now closed.
Why U.S. Steel Will Benefit From Electric Arc Furnaces
There are two basic types of steel production processes: blast furnace (or BF) and electric arc furnace (or EAF).
Building Sales in China Witness Biggest Monthly Drop in 3 Years
Property prices have also been weak in China. New home prices have fallen in 66 out of 70 top Chinese cities and in January, prices had fallen in 64 cities.
U.S. Steel Extends Its Transformation Amid a Challenging Market
U.S. Steel has an iconic past, but it has lost a lot of its sheen in the last few years. However, it’s working on a transformation program.