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U.S. Steel business headlines & news reports

Donnelly pushes for trade protections for steel industry - nwitimes.com
Tue, 26 May 2015 03:53:14 +0100
As a record surge of foreign imports has flooded in, the U.S. steel industry has laid off thousands nationwide, including at ArcelorMittal's Long Carbon and U.S. Steel's Gary Works and East Chicago Tin. U.S. Sen. Joe Donnelly, D-Ind., has been pushing ...

US Steel to file 'several' anti-dumping complaints - STLtoday.com
Fri, 22 May 2015 18:23:23 +0100
About 15 percent of U.S. Steel's output involves making steel tubes, known as oil country tubular goods (OCTG), for the oil and gas industry, but the OCTG unit is fully supplied with raw product by another U.S. Steel unit. 'For us its a double whammy ...

Don't Bet on US Steel Rallying Around the Flag - Wall Street Journal
Sun, 17 May 2015 17:27:55 +0100
The number of rigs operating in the U.S. has fallen by more than half, year over year, according to Baker Hughes. As oil companies cut back on drilling, demand for higher-margin steel pipe and tubes follows suit. And fewer orders mean U.S. Steel's ...

Morgan Stanley Offers 4 Reasons To Buy U.S. Steel - Benzinga
Tue, 12 May 2015 15:54:26 +0100
According to Kurtz, flat-rolled steel prices are bottoming, imports are falling, industry capacity utilization is rising, and service centers are closer to ending destocking. With that said, the industry is 'inflecting positively,' and U.S. Steel will ...

Fewer layoffs than expected coming to Minntac plant - TwinCities.com-Pioneer ...
Sat, 09 May 2015 00:08:33 +0100
... and more details about layoffs by department are expected Friday. U.S. Steel has cited high steel imports, dumping of foreign steel and low steel prices in trimming Minntac's production. The Pittsburgh-based company has said the layoffs are temporary.

Moody's Lowers Outlook on U.S. Steel Industry to Negative (X) (WOR) ...
Fri, 08 May 2015 15:38:33 +0100
The outlook for the US steel industry has been lowered to negative from stable, Moody's Investors Service says in a new report. Prices have collapsed across all grades of steel and capacity utilization rates remain weak. For the US steel industry, the ...

U.S. Steel reducing number of layoffs with idling of Minntac plant
Thu, 07 May 2015 17:37:18 +0100
Thanks to an agreement with the union, only 400 instead of 700 workers will be laid off when U.S. Steel cuts back work at its Minntac taconite plant in Mountain Iron. To reduce the layoffs when the plant partially idles on June 1, Minntac will adopt a 32-hour work week.

U.S. steel companies want Russian trade deal axed
Wed, 06 May 2015 06:13:36 +0100
U.S. steel producers on Tuesday demanded the Department of Commerce scrap a trade deal sparing Russian producers of carbon steel plate from import duties. Nucor Corp, SSAB Enterprises LLC and Arcelor Mittal USA said a flood of cheap cut-to-length carbon steel plate was hurting the local industry.

US steel companies want Russian trade deal axed - Yahoo Finance UK
Wed, 06 May 2015 04:25:59 +0100
The Moscow Times - Yahoo Finance UKU.S. steelmakers last year succeeded in overturning a suspension agreement on Russian hot-rolled, flat-rolled, carbon quality steel, which had set a cap on imports and a minimum price. If this second agreement is also revoked, Russia's Severstal will ...

U.S. Steel: It's A Bloodbath - Seeking Alpha
Thu, 30 Apr 2015 15:25:29 +0100
X is facing numerous macro headwinds, including collapsing steel prices, high levels of imports, strong USD, which makes imports cheaper for the U.S. buyer, and energy market pullback due to lower oil prices. U.S. Steel imports are at their ...

Will U.S. Steel Deliver EPS Growth Experts & Crowd Disagree
Wed, 29 Apr 2015 05:54:56 +0100
Shares of United States Steel Corporation were up on Tuesday as the company prepares to report its first quarter financial results after the market closes. According to Estimize , there is a big divergence between experts' expectations and the crowd's expectations.

US Steel Swings to Loss, Cuts Guidance - Wall Street Journal
Tue, 28 Apr 2015 22:15:36 +0100
Oil prices have fallen more than 40% in the past year to less than $60 a barrel, leading to a pullback by energy producers and lower demand for steel pipe for drilling. Under Mr. Longhi, who took over as CEO in 2013, U.S. Steel has been aggressive ...

Other View: US steel industry needs level playing field - Duluth ...
Sat, 25 Apr 2015 04:06:03 +0100
Idling plants in Minnesota is a symptom of the larger, vexing woes of the United States steel industry. A steel glut on the world market has dramatically driven down prices and led to surging imports. Excess global capacity was estimated by a 2014 ...

Will Lower Oil Prices Weigh on U.S. Steels (X) Earnings - Zacks.com
Fri, 24 Apr 2015 22:15:46 +0100
Zacks.comOversupply in the steel industry has put pressure on steel prices as Chinese steel production outpaced demand. In addition, China's leading position in steel production may give the Chinese players a better control over pricing. The low costs of ...

How U.S. Steel Fares In A SWOT Analysis (X) - Seeking Alpha
Thu, 23 Apr 2015 16:55:06 +0100
In addition, U.S. Steel also will construct a tubular products coupling facility at Fairfield, which will make couplings for its customers in the oil and gas industry, strengthening its oil country tubular goods (OCTG) segment. These operational ...

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