TimkenSteel Corp

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  • uploads///tubular
    Company & Industry Overviews

    U.S. Steel’s Tubular Segment Is a New Achilles Heel

    The current year has been a dismal year for U.S. Steel’s Tubular segment, which generated a negative per ton EBITDA of $533 and $234 in 2Q15 and 3Q15, respectively.

    By Mohit Oberoi, CFA
  • uploads///part  steel imports
    Company & Industry Overviews

    Will the Downtrend in US Steel Imports Continue in 2016?

    In November 2015, the United States imported 2.1 million metric tons of steel products—a YoY decline of 36%. What’s more, in November, US steel imports fell to a four-year low.

    By Mohit Oberoi, CFA
  • uploads///part
    Macroeconomic Analysis

    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.

    By Mohit Oberoi, CFA
  • uploads///leverage ratios
    Company & Industry Overviews

    Worthington Industries Enjoys Comfortable Leverage Ratios

    Lower leverage ratios give Worthington a lot of opportunities to expand its business. The company’s cash flow is also in good shape.

    By Mohit Oberoi, CFA
  • uploads///last
    Miscellaneous

    Will Alcoa Suffer the Same Fate as US Steel Companies?

    If China doesn’t cut its aluminum smelting capacity meaningfully, aluminum might suffer the same fate as steel. US steel companies have been reeling under the impact of steel imports for quite some time.

    By Mohit Oberoi, CFA
  • uploads///us seteel
    Fund Managers

    Bridgewater Associates Opens Position in US Steel Corporation

    In 4Q14, Bridgewater Associates started a position in US Steel Corporation (X). X accounted for 0.12% of the fund’s total fourth-quarter portfolio.

    By Samantha Nielson
  • uploads///last
    Company & Industry Overviews

    ArcelorMittal’s Outlook in 4Q15: Steeling Itself for the Worst?

    ArcelorMittal is planning to “structurally improve” its EBITDA by $1 billion in 2016. It expects to realize one-third of these improvements in 1H16.

    By Mohit Oberoi, CFA
  • uploads///housing permit europe steel demand
    Macroeconomic Analysis

    How Europe’s Steel Demand Is Shaping Up in 2015

    A sustained recovery in the EU housing market should boost the European steel industry. However, the housing industry has been giving mixed signals.

    By Mohit Oberoi, CFA
  • uploads///Recommendations
    Basic Materials

    What Analysts Recommend for CLF ahead of 4Q17 Results

    Out of the nine analysts covering Cleveland-Cliffs (CLF) stock, 55.6% rate it as a “hold.”

    By Anuradha Garg
  • uploads///Performance YTD
    Earnings Report

    Cliffs Natural Resources: Fighting All Odds to Soar in 1Q16

    On a relative basis, Cliffs Natural Resources (CLF) has outperformed other iron ore miners by a wide margin. It had a YTD rise of 182% as of April 19, 2016.

    By Anuradha Garg
  • uploads///scrap
    Company & Industry Overviews

    Scrap or Iron Ore: What Drives US Steel Prices?

    Even the recent uptick in US steel prices has been accompanied by strength in steel scrap prices.

    By Mohit Oberoi, CFA
  • uploads///imports
    Macroeconomic Analysis

    Are US Steel Imports Rising or Falling in 2016?

    US steel imports have been falling gradually since the beginning of 2015. The downtrend continued in January 2016, when US steel imports fell more than 41% YoY.

    By Mohit Oberoi, CFA
  • uploads///steel part  china export
    Company & Industry Overviews

    Will China’s Capacity Cuts Be Enough to Restore Global Balance?

    China plans to curtail its excess steel capacity. However, even if China actually cuts the excess steel capacity, it could be in a very gradual way.

    By Mohit Oberoi, CFA
  • uploads///ebitda
    Company & Industry Overviews

    Will AK Steel Be Able to Maintain Its EBITDA Going Forward?

    An encouraging development in AK Steel’s 3Q15 financial performance was strong EBITDA of $120 million. This is the highest quarterly EBITDA in more than six years.

    By Mohit Oberoi, CFA
  • uploads///us steel demand real estate
    Macroeconomic Analysis

    US Steel Demand Indicators Have Been Mixed

    Looking at steel demand indicators, we see that construction activity has generally been strong in 2015, with spending in the United States exceeding $1 trillion for seven consecutive months.

    By Mohit Oberoi, CFA
  • uploads///part  real estate
    Macroeconomic Analysis

    Chinese Steel Demand Indicators Have Faltered

    If you’re an investor in any of the steel companies (XME), you should explore how the Chinese (FXI) steel demand is playing out.

    By Mohit Oberoi, CFA
  • uploads///steel inventory
    Company & Industry Overviews

    What Factors Derailed the Steel Industry’s Expected 2H15 Recovery?

    The steel industry was banking on a possible 2H15 recovery. However, the operating environment has become even more challenging.

    By Mohit Oberoi, CFA
  • uploads///part  steel imports HRC ray of hope
    Macroeconomic Analysis

    Why July Import Data Offers a Ray of Hope to US Steel Companies

    US steel imports have now fallen on a yearly basis for four consecutive months.

    By Mohit Oberoi, CFA
  • uploads///construction spending
    Macroeconomic Analysis

    Construction Spending Surges past the $1 Trillion Mark

    May construction spending data, released on June 1, came in at a SAAR of $1.04 trillion. This is the second straight month where construction spending has passed $1 trillion SAAR.

    By Mohit Oberoi, CFA
  • uploads///part  real estate climate index
    Macroeconomic Analysis

    China’s Real Estate Climate Index Hits New Multiyear Low in May

    The decline in the real estate climate index is another indication that construction activity has slowed down in China.

    By Mohit Oberoi, CFA
  • uploads///part
    Company & Industry Overviews

    Worthington Steel Segment Relies on Automotive Sector

    Steel is Worthington Industries’ biggest segment, accounting for more than half of the company’s operating profits.

    By Mohit Oberoi, CFA
  • uploads///steel imports
    Company & Industry Overviews

    U.S. Steel Brings Steel Industry Woes to Congresspeople

    A massive increase in steel imports has been the single biggest risk for the US steel industry. U.S. Steel faces challenges in its tubular segment also.

    By Mohit Oberoi, CFA
  • uploads///china building sales
    Macroeconomic Analysis

    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.

    By Mohit Oberoi, CFA
  • uploads///part
    Company & Industry Overviews

    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.

    By Mohit Oberoi, CFA
  • uploads///global steel production
    Macroeconomic Analysis

    Global Steel Production Increased 0.6% in February

    A low capacity utilization rate increases competition between existing industry players. This pressures steel prices as producers try to increase sales.

    By Mohit Oberoi, CFA
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