| U.S. Steel (X) May Consolidate Flat-Rolled Operations | |
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United States Steel Corp. X declared that it is examining a potential consolidation of its North American Flat-Rolled operations and may idle its Granite City Works steelmaking operations and most finishing operations in Granite City, Ill, on a temporary basis.
U.S. Steel usually adjusts its production to changing market conditions. This consolidation is a part of the same process and reflects continued challenging global market conditions, like volatility in oil prices, lower rig counts, dampened steel prices and unfairly traded imports.
The steel industry is struggling to cope with a surfeit of low-priced imports. Surging steel imports and oversupply in the industry are pressurizing prices, thereby hurting margins of American steel producers. Domestic steel makers are struggling to defend their turf from a flood of cheap imports from foreign manufacturers.
These macroeconomic conditions continue to have significant impact on U.S. Steel’s business, which calls for this adjustment to align production with customer demands. Moreover, owing to this possible consolidation, notices have been issued to 2,000 employees at Granite City Works under the Worker Adjustment and Retraining Notification (WARN) Act. These notices are separate from the earlier issued notices.
Amid a difficult operating environment, U.S. Steel is aggressively pursuing actions to improve its cost structure through its Carnegie Way program. The Carnegie Way initiative is expected to generate meaningful benefits in 2015, allowing the company to somewhat offset the operational challenges through the year.
Zacks Rank
U.S. Steel currently carries a Zacks Rank #4 (Sell).
Some better-ranked companies in the basic materials sector include ThyssenKrupp AG TYEKF, Ryerson Holding Corporation Com RYI and Primero Mining Corp. PPP. While ThyssenKrupp sports a Zacks rank #1 (Strong Buy), Ryerson Holding Corporation and Primero Mining carry a Zacks Rank #2 (Buy).
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United States Steel Corporation
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CODE : X |
ISIN : US9129091081 |
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ProfilIndicateurs de MarchéVALEUR : Projets & res.Communiqués de PresseRapport annuelRISQUE : Profile actifsContactez la cie |
United States Steel est une société de production minière de fer et de étain basée aux Etats-Unis D'Amerique. United States Steel est cotée aux Etats-Unis D'Amerique. Sa capitalisation boursière aujourd'hui est 6,5 milliards US$ (5,8 milliards €). La valeur de son action a atteint son plus bas niveau récent le 28 mars 2003 à 10,01 US$, et son plus haut niveau récent le 30 novembre 2007 à 98,85 US$. United States Steel possède 176 184 431 actions en circulation. |