US Steel Companies: Price Hikes amid COVID-19
U.S. Steel Corporation, Nucor, and ArcelorMittal announced a price hike earlier this month. US steel prices fell to multiyear lows amid COVID-19.
Could US Steel Prices Fall More amid COVID-19?
US steel prices have come under pressure this month following weakness in other industrial metals. The worst might not be over for industrial metals.
US Steel, COVID-19, and the Dichotomy of ‘Essential’
US steel production data reflect the impact of COVID-19. In the week ending April 4, production fell by 18.9% compared to the same period in 2019.
US Steel Industry Seeks More from ‘Tariff Man’ Trump
The US steel industry wants more tariff protection from the Trump administration. In 2018, President Trump imposed a 25% tariff on US steel imports.
Global Steel Production Tumbles Even as China Recovers
Today, the World Steel Association released its November global steel production data, which showed that production was down 1.0% year-over-year.
A Look at Analysts’ Top 5 US Steel Stocks
In this overview article, we’ll see how analysts are rating the leading steel stocks, and we’ll also compare performance from the top five steel companies.
CLF Acquires AKS: A Match Made in Heaven?
Yesterday, Cleveland-Cliffs (CLF) announced that it would acquire AK Steel (AKS) at a premium of 16% over both stocks’ December 2 closing prices.
Investments & Deals
CLF Buys AK Steel: A Win-Win Transaction?
Today, Cleveland-Cliffs (CLF) announced that it was buying AK Steel (AKS), a flat rolled steel producer that supplies mainly to the automotive sector.
Why Global Steel Production Fell in October
Yesterday, the World Steel Association released data that showed global steel production falling YoY (year-over-year) in October.
CLF Might Benefit, US Steel Imports Tumble
Cleveland-Cliffs (CLF) stock has risen 12.7% this month. The stock has risen 9.2% YTD (year-to-date) based on its closing prices on Tuesday.
US Steel Industry: Layoffs Mount despite Trump’s Tariffs
There have been reports of several layoffs in the US steel industry this year, in contrast to last year’s news of plant restarts and new plants.
Cleveland-Cliffs and U.S. Steel Await Another ‘Trump Effect’
Cleveland-Cliffs (CLF) and U.S. Steel (X) are in the red this year. As we head into the 2020 election, both companies desperately need another “Trump effect.”
CLF, U.S. Steel Corporation Read the Writing on the Wall
CLF and U.S. Steel Corporation are looking at electric arc furnaces, whose variable cost dynamics make them suitable for the cyclical steel industry.
Citi Has Some Bad News for CLF Stock and US Steel
Citi is bearish on iron ore and steel prices, expecting bad news for Cleveland-Cliffs (CLF) and US steel companies. This year, CLF stock is trading almost flat.
US Steel Companies Call a Bottom after Prices Plummet
Domestic prices have plunged to a three-year low. However, US steel companies are calling it a bottom now in terms of pricing.
Are Trump’s US Steel Tariffs Just a Pawn in the Game?
US steel tariffs have been a pawn in the broader game. In order to get a bigger trade deal, the US looked amenable to relaxing the tariffs.
US Steel Stocks: Trade Optimism Versus Reality Check
US steel stocks spiked on Friday as trade deal optimism lifted equity markets. Metals and mining stocks were the biggest gainers in Friday’s trade.
Trump Steel Tariffs: Will History Repeat Itself?
Will President Trump lift the steel tariffs like President Bush? President Trump’s steel tariffs will likely remain due to his support base.
‘Thriving’ US Steel Sector Could Face More Troubles in Q4
Trump has claimed that the US steel sector was “thriving” under his administration. However, steel stocks have looked weak.
US Steel Prices Fall, Plant Closures Follow
The bottom line is that steel prices are weaker due to global weakness and tepid US demand. President Trump’s trade war has impacted steel prices.