United States Steel Corp
Latest United States Steel Corp News and Updates
Factors Driving Analysts’ Forecast of a Drop in CLF’s Net Debt in 2017
According to consensus estimates, CLF’s net debt should fall 42% by the end of 2017 compared to 2016.
Can Cleveland-Cliffs’ Realized Prices in the US See an Uptick in 3Q17?
Cleveland-Cliffs’ (CLF) average realized prices increased 24% year-over-year and 22% quarter-over-quarter to $97 per ton in 2Q17.
The Outlook for US Steel Prices in 4Q17
Steel prices Along with steel production, steel prices are among the most important drivers of US steelmakers’ earnings. Therefore, steel and iron ore investors should track US steel prices (SLX). After being depressed for a long period, US steel prices started their upward march in 2016 after high anti-dumping duties were levied on imported steel. Prices also […]
A Look at Trends in US Steel Production
US steel production As US (DIA) (DOW) steel production is US steelmakers’ major revenue driver, it’s very important to track it. In this part, we’ll discuss domestic production and capacity utilization. According to the World Steel Association, the United States produced 7.1 million tons of steel in August 2017, an increase of 6.3% YoY (year-over-year). Production rose 5.6% in […]
How Owning the Tilden Mine Fits Into Cleveland-Cliffs’s Strategy
Cleveland-Cliffs now fully owns Tilden On October 2, 2017, Cleveland-Cliffs (CLF) announced its acquisition of U.S. Steel Corporation’s (X) 15% equity interest in the Tilden mine for $105 million. Cleveland-Cliffs already owned the other 85% of the joint venture. This transaction will provide 1.2 million tons of annual pellet production capacity to Cleveland-Cliffs, taking its capacity to ~20 million […]
How the US Steel Industry’s Supply and Demand Looks before 4Q17
Steel stocks have recouped some of their losses in the last two trading sessions. However, U.S. Steel Corporation (X) and AK Steel (AKS) have lost 5.3% and 4.1%, respectively, month-to-date based on their September 27 closing prices.
US Steel Producers Are Complaining about Higher Input Costs
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.
Top 10 Steel Consumers: Where Does the United States Stand?
China was the largest steel consumer last year, with the mainland’s ASC at 681.0 million metric tons.
Size Matters: Which Are the Top 10 Steel-Producing Companies?
In this series, we’ll look at the top ten companies in the global steel industry based on steel production, steel consumption, and steel imports.
These Variables Could Drive Cleveland-Cliffs Higher
After experiencing a great 2016, US steel stocks are having a tepid 2017.
A Comparative Analysis of Steel Companies’ Leverage
Steel companies have high sensitivity to steel prices and their earnings tend to be volatile. Spot steel prices have been volatile in the last few years.
Will China’s Disappointing July Trade Deflate Metal Bulls?
On August 8, China released its trade data for July. The country’s exports in dollar terms rose 7.2% compared to July 2016 while imports rose 11%.
US Steel Prices: The Outlook for Cliffs Natural Resources
Cliffs Natural Resources (CLF) downgraded its EBITDA and net earnings guidance for 2017 due to weaker-than-expected YTD averages of US HRC and seaborne iron ore prices.
Cliffs Natural Resources: What Will Drive Performance after 2Q17?
The 2Q17 earnings season for US-based steel companies is now over. Cliffs Natural Resources (CLF) released its 2Q17 results on July 27, 2017, before the market opened.
Key Highlights from Cliffs Natural Resources’ 2Q17 Results
Cliffs Natural Resources (CLF) achieved revenues of $569 million for 2Q17, an increase of 15% year-over-year (or YoY).
Why Cliffs Natural Resources’ Stock Fell despite an Earnings Beat
Cliffs Natural Resources (CLF) released its 2Q17 results on July 27, 2017, before the market opened. Here’s what you need to know.
Analysts’ Views: What Iron Ore Price Could Bring Balance?
While iron ore prices have rebounded recently, analysts are still skeptical about the long term. Morgan Stanley has reduced its iron ore price forecast for 3Q17 by 23% to $50 per ton.
Jefferies Recommends a ‘Buy’ for CLF—What Do Other Analysts Think?
According to the consensus compiled by Thomson Reuters, 22% of the analysts covering Cliffs Natural Resources (CLF) recommended a “sell” for the stock, 33% recommend a “buy,” and 44% recommend a “hold” for the stock.
Can CLF’s Realized Prices See an Uptick in the US Segment?
Compared to 1Q16, Cliffs Natural Resources’ average realized prices fell 5% year-over-year to $79.30 per ton in 1Q17.
How’s the Industry Outlook for Cliffs for the Rest of 2017?
May 2017 was quite a volatile month for Cliffs Natural Resources (CLF) and its peers. Cliffs fell 12.4% in May alone, bringing its year-to-date losses to 30%.
Why US Steel Bears Could Have a Valid Point
US steel prices have held their ground in 2017 and have built on last year’s gains. However, the bears (SDS) also have some valid points. Let’s discuss them in perspective.
Key Updates Markets Are Waiting for in U.S. Steel’s 1Q17 Call
In this article, we’ll analyze the key updates the markets are waiting for in U.S. Steel’s 1Q17 earnings call.
Can AK Steel Regain Its Lost Mojo in 1Q17?
Previously, we looked at AK Steel’s (AKS) 1Q17 earnings estimates. In this article, we’ll look at some key updates the markets could be anticipating in the company’s 1Q17 earnings call.
Analysts Might Take a Fresh Look at U.S. Steel Corporation
U.S. Steel Corporation will release its 1Q17 earnings on April 24 after the market closes. The company’s earnings conference call will be on April 25.
What the Divergence in Flat Rolled Steel Imports Tells Us
In this article, we’ll look at February 2017’s flat rolled steel imports and study whether there’s a divergence in the imports of these products.
How Raw Material Prices Could Impact U.S. Steel’s Performance
ArcelorMittal’s mining operations generated an operating income of $203 million in 4Q16, almost double what they generated in 3Q16.
Are Rising Chinese Steel Inventories a Risk for Steel Investors?
With higher steel production and subdued demand, one would expect a tsunami of Chinese steel exports, but this wasn’t the case last month. So what did China want with so much steel?
What Rising OCTG Imports Mean for U.S. Steel
U.S. Steel Corporation has three segments: Flat Rolled, Europe, and Tubular. The company’s Tubular segment produces OCTG (oil country tubular goods) that are used in the energy sector.
ArcelorMittal’s Expected 4Q16 Revenues: The Word on Wall Street
Analysts expect ArcelorMittal (MT) to post revenues of $14.6 billion in 4Q16. The company posted revenues of $14.5 billion in 3Q16 and $13.9 billion in 4Q15.
What Could Affect Iron Ore Prices in 2017?
Chinese demand is the key driver of iron ore prices, as the country accounts for more than two-thirds of seaborne demand (CLF) (BHP).
Can Cliffs Natural Resources Scale Greater Heights in 2017?
Cliffs Natural Resources (CLF) was trading at $8.85 on December 23, 2016, which represents a 46% rise since Donald Trump’s win in the US presidential election. That brings the year-to-date rise to a whopping 430.0%.
Why U.S. Steel Investors Should Look at Steel Price Spreads
The United States is the largest steel importer globally. Steel companies such as U.S. Steel Corporation frequently blame steel imports for the US steel industry’s woes.
What Factors Are Supporting Steel Prices?
According to data compiled by Metal Bulletin, spot HRC (hot rolled coil) prices rose from $380 per short ton to $640 per short ton between January 2016 and June 2016.
Revenue Miss Was a Hallmark of Steel Companies’ 3Q16 Earnings
One of the key features of steel companies’ 3Q16 financial performance was lower-than-expected revenues.
U.S. Steel Bulls Left Heartbroken After 3Q16 Earnings Miss
U.S. Steel Corporation (X) released its 3Q16 financial results on November 1 after the market closed, and it held its earnings conference call on November 2.
Analyzing the Bullish Argument for U.S. Steel
The bulls and bears have their own sets of arguments about U.S. Steel. U.S. Steel (X) and AK Steel (AKS) mainly use iron ore as a raw material.
What’s Driving the Record Spread Between HRC and CRC Prices?
US Spot hot rolled coil prices have risen in the ballpark of $200 per short ton in 2016. Spot cold rolled coil prices have risen by ~$300 per short ton.
What’s Been Driving Cliffs Natural Resources’ Valuation
Valuations Valuation multiples are key metrics that investors consider carefully. With the help of relative valuations, we can compare a company’s valuation with its closest peers’ valuations. There are several valuation metrics that we can use. For companies in cyclical industries such as steel and mining, the EV/EBITDA (enterprise value to earnings before interest, taxes, depreciation, and amortization) […]
Could Brexit Shake the European Steel Industry?
The EU hasn’t been able to act decisively against higher Chinese steel imports. European steel production has fallen much steeper this year.
Brexit or No Brexit, the European Steel Industry Is in Shambles
In May, ~14.5 million metric tons of steel were produced in the European Union. That was a YoY decline of 5.5%.
A Comparative Analysis of Steel Companies’ Relative Valuations
In this article, we’ll look at steel companies’ forward EV-to-EBITDA multiples to see if there are some underpriced or overpriced bets in the sector.
What Slowdown? US Steel Prices Rose 50% This Year
Steel companies’ earnings are sensitive to changes in steel prices. In recent quarters, their earnings have been negatively impacted by falling steel prices.
Will Global Overcapacity Weigh Heavy on Steel Prices?
The excess global steel capacity will take a lot of time to balance out. The capacity closures in China, if they happen at all, will be gradual.
What to Look for in Cliffs Natural Resources’ 4Q15 Results
In its 4Q15 earnings release on January 27, 2016, Cliffs Natural Resources (CLF) may provide a further update on its venture into a direct reduced iron business.
It’s Beginning to Look a Lot like a US Steel Consumption Cool Down
If the Fed continues to raise rates in 2016, we could see the impact on the housing and automotive sectors, which would only add to steel’s woes.
Is there More Downside to Cliffs’s USIO Division Volume Guidance?
In its 2Q15 results, Cliffs Natural Resources (CLF) downgraded its volume guidance for the USIO division for 2015, from 20.5 million tons to 19 million tons.
Cliffs to Announce 3Q15 Results on October 29
Cliffs Natural Resources (CLF) will release its 3Q15 results before the US market opens on October 29, 2015. A conference call will occur at 10:00 AM ET on October 29.
The Importance of Diversified End Market Exposure
Steel companies’ product portfolios and end market exposures can have significant impacts on company performance.
How Geographical Exposure Varies Between Steel Companies
A look at the geographical exposure of different steel companies, which are exposed to the overall economic activity of the regions in which they operate.
The Hows and Whys of Nucor’s Recent Falling Revenues
Nucor’s net revenues fell ~18% in 2Q15, compared to the corresponding quarter last year. Most steel companies have reported lesser revenues in 2Q15 as well.
