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United States Steel Corporation

5/25/2013, 2:42 AM ET

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Friday, May 24, 2:57 PM Recent price increases announced by AK Steel (AKS -1.4%), US Steel (X -0.3%) and ArcelorMittal (MT -0.9%) are unlikely to stick, Credit Suisse believes, as the sector's fundamentals suggest steel stocks are likely to remain range bound this summer. However, the firm predicts stronger demand trends are likely to drive steel stocks higher by fall. Comment! [Commodities]
Thursday, May 23, 5:55 PM Serious overcapacity in China's steel industry is unlikely to ease in 2013, which could continue to hamper steel prices (SLX), analysts say at Platts Steel Market Europe conference. China is set to produce ~750M metric tons of crude steel in 2013 while capacity will rise to 950M, putting heavy pressure on steel prices in Europe and in the world steel industry as a whole. 7 Comments [Commodities, Global & FX]
Monday, May 13, 3:59 PM The rest of the top 25 heavily shorted S&P 1500 stocks: ESI, GTAT, DGIT, LQDT, WRLD, JCP, GME, FRAN, SVU, ONE, AKS, CRR, EBIX, DDD, SPF, DMND, DECK, BKS, COCO, X. 7 Comments
Wednesday, May 1, 9:59 AM CLSA sees more tough times ahead for U.S. Steel (X -3.6%) after disappointing Q1 results, cutting its target price to a Street-low $12/share and significantly lowering its 2014-15 earnings estimates. Comment! [Commodities, Quick Ideas, On the Move]
Tuesday, April 30, 1:30 PM United States Steel Corporation (X) declares $0.05/share quarterly dividend, in line with previous. Forward yield 1.15%. For shareholders of record May 14. Payable June 10. Ex-div date May 10. (PR) Comment! [Dividends]
Tuesday, April 30, 9:04 AM More on U.S. Steel's (X) Q1 results: Tubular segment improved Q/Q due to decreased operating costs and increased shipments partially offset by lower average realized prices. Flat-rolled segment results were slightly lower due to higher operating costs, shipments rose slightly, average realized prices were comparable. Expects Q2 tubular results comparable with Q1 but lower flat-rolled results. Shares -4.5% premarket. Comment! [Commodities, Earnings, On the Move]
Tuesday, April 30, 8:11 AM U.S. Steel (X): Q1 EPS of -$0.35 misses by $0.15. Revenue of $4.59B misses by $0.07B. (PR) Comment! [Earnings, Breaking News]
Monday, April 22, 5:41 PM Caterpillar gained today because its weak Q1 report was no worse than expected, but there's little chance of a snapack in global metals and mining later in 2013, 24/7's Jon Ogg writes. Bottoming out may take much longer than expected now, he warns, and sector investors may see more volatility and timing pain than in the past. (also) Today: CAT +2.8%, FCX +1.1%, JOY +0.5%, DE +0.4%, X -0.6%. 1 Comment [Global & FX]
Monday, April 15, 7:00 PM The list of 52-week lows reached today is littered with miners and resource names: ABX, ACI, AG, AKS, ANV, AU, AUQ, AUY, CDE, CLF, CVE, EGO, EXK, EXXI, FCX, FNV, FST, GFI, GG, GOLD, HL, HMY, IAG, IPI, KGC, MHR, MT, MTL, NEM, NFX, NG, NGD, NOG, PAAS, PWE, RGLD, RIC, SA, SAND, SGY, SSRI, SVM, TCK, TGB, TRQ, WLT, WTI, X. 5 Comments [Commodities, Energy]
Wednesday, April 3, 5:43 PM Steel imports fell 17.1% Y/Y in March and are down 11.7% YTD, and Wells Fargo says the decline is a negative for U.S. Steel (X) and AK Steel (AKS) since it is "driven by weak domestic steel prices that have made foreign steel less attractive to U.S. buyers, as well as softer than seasonal end demand." The firm remains cautious on the steel sector until fundamentals improve in Europe and China. 4 Comments [Commodities]
Tuesday, April 2, 3:30 PM BAML analysts expect U.S. Steel (X -5.8%) to see its margins squeezed as iron ore prices fall and costs remain fixed, so the firm cuts its earnings estimates and price target to $14. Shares hit a new 52-week low at $17.60 and are -26% YTD. Comment! [Commodities, Quick Ideas, On the Move]
Tuesday, March 26, 8:15 AM U.S. Steel (X) agrees to keep its operations running in Slovakia for at least another five years after the government offered environmental and energy-related incentives to stay. U.S. Steel had said it might sell the unit, its sole operation in Europe, where slowing demand is weighing on prices and shipments. Comment! [Commodities, Global & FX]
Monday, March 18, 6:56 PM Cheap energy from the U.S. shale gas boom is often touted as a "game changer" for manufacturing, but despite the cost benefits, the game hasn't changed dramatically. International Paper's (IP) strategy illustrates the thinking of many global firms: "Our investments are really driven by demand, not costs." Trade figures also don't yet show an overall improvement in U.S. competitiveness. 4 Comments [Energy, U.S. Economy]
Wednesday, February 13, 5:53 PM Steel manufacturers including U.S. Steel (X) will suffer as China's appetite for iron ore slows, with high pension costs also a cause for concern, Blue Mountain hedge fund manager Andrew Feldstein says. He recommends shorting the company by being long its equity and short its credit by a ratio of one to six; he also promotes shorting Japan's JFE and Australia's Fortescue. Comment! [Commodities]
Friday, February 1, 5:33 PM Nucor's (NUE) Louisiana plant shows how the abundance of natural gas has made some manufacturing processes, recently seen as uneconomical, feasible. When complete, the plant will process 2.5M tons/year of direct-reduced iron pellets; at current gas prices, DRI can generate iron pellets at $260-$280/ton, while scrap steel trades at ~$390/ton. U.S. Steel (X) also says it is studying options for building a DRI plant. 3 Comments [Energy, Commodities]
Tuesday, January 29, 3:59 PM U.S. Steel (X -2%) and AK Steel (AKS -1.8%) (I, II) continue to contend with oversupply in the U.S. industry, pressuring steel prices, but both companies expect results to improve in the current quarter as the global economy improves. "Recent increases in our daily order entry rates suggest increased spot market demand as the quarter progresses," U.S. Steel says, also seeing lower coal costs for 2013. Comment! [Commodities, On the Move]

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