Another Trump kiss of death: US Steel Industry Has Plenty of Bad News for Trump

[Denizen]

Saving the US steel industry was one of Trump's reasons for imposing tariffs on steel.

But like all of Donald Trump's gut decisions, it went bust.

"US steel production and capacity utilization ratios have fallen"

"New investments have been put on hold".

Trump is clueless in the White House and his chaotic antics are damaging the USA and the world economy.

US Steel Industry Has Plenty of Bad News for Trump - Market Realist

US Steel Industry Has Plenty of Bad News for Trump
WRITTEN BY MOHIT OBEROI, CFA

The US steel industry might have plenty of bad news for President Trump. The US steel production and capacity utilization ratios have fallen. New investments have been put on hold. There have been some layoffs as well.

US steel stocks including U.S. Steel, AK Steel, and Nucor have fallen sharply in August.
US steel industry
Protecting the US steel industry was among the Trump administration’s key priorities. Last year, President Trump approved a 25% tariff on US steel imports. The administration hoped that the tariffs would give US steel companies a level playing field. Initially, the tariffs propelled US steel companies’ stock prices. There was a wave of new investments and restarts. Last year, US steel production also rose, while imports fell. Despite seemingly strong fundamentals, companies like U.S. Steel (X), AK Steel (AKS), and Nucor (NUE) closed with losses last year.
Things have changed this year
Last year, the US steel industry gave President Trump a lot of good news. President Trump visited U.S. Steel’s Granite City facility last year after the company announced a restart. However, over the last few months, the US steel industry hasn’t had much good news for President Trump. In June, U.S. Steel announced the partial closure of two of its US blast furnaces. In August, U.S. Steel’s regulatory filings showed that it plans to fire some workers in Michigan.
US steel industry and layoffs
U.S. Steel announced the closure of a tin mill. ArcelorMittal (MT) also announced the closure of a tin mill. Both of the closures would lead to more layoffs. Notably, the layoffs are coming shortly after President Trump claimed that the US steel industry is “thriving” under his administration.
US steel industry’s capacity utilization falls
According to the American Iron & Steel Association, the US steel industry’s capacity utilization fell to 79.8% in the week ending August 17. That week, US steel production fell on a weekly and yearly basis. Incidentally, the Department of Commerce intended to increase the US steel industry’s capacity utilization ratio above 80% through the Section 232 tariffs. While US steel production and capacity utilization ratios rose last year, they started to falter over the last few months.
Where are the new investments?
JSW Steel USA has also put a planned expansion on hold. On August 20, S&P Global Platts said, “While JSW USA is fully underway in modernizing the plate mill at Baytown, Texas, given the current market conditions and the prevailing policy environment, the company has for now decided to put on hold the backward integration project of installing an electric arc furnace and slab caster at Baytown.”
However, the steel industry isn’t all gloom and doom. JSW Steel is still ramping up operations at other sites. Recently, Australia’s BlueScope Steel committed $1 billion towards US operations. Australia was among the first countries to get a Section 232 exemption last year.
US steel stocks
US steel stocks are having a hard time in August. U.S. Steel (X), AK Steel (AKS), and Nucor (NUE) have fallen 25.3%, 23.0%, and 13.7%, respectively. All of these stocks are trading with a year-to-date loss. However, broader US market indices are still in the green for the year. Looking at US steel stocks’ price action, markets don’t seem to be buying President Trump’s belief that the US steel industry is “thriving.”

 

[Marion Morrison]

"might"

 

[BluesLegend]

 

[Denizen]

"might"

... if only Trump would read, or could read.

 

[Marion Morrison]

Thanks! This gives me an idea!

 

[Oddball]

"might"

 

[Denizen]

Thanks! This gives me an idea!

Keep it under your hat. You might be labeled the GOP think tank.

 

[Marion Morrison]

SassyIrishLass Whatcha think?

 

[jc456]

Thanks! This gives me an idea!

JSW Steel is still ramping up operations at other sites. Recently, Australia’s BlueScope Steel committed $1 billion towards US operations.

Can't make it up!!!

 

[Denizen]

Thanks! This gives me an idea!

JSW Steel is still ramping up operations at other sites. Recently, Australia’s BlueScope Steel committed $1 billion towards US operations.

Can't make it up!!!

"Looking at US steel stocks’ price action, markets don’t seem to be buying President Trump’s belief that the US steel industry is “thriving.”

 

[Claudette]

US Steele is doing great. Google is the Op's friend. God forbid the idiot actually researched before posting bull shit.

 

[Denizen]

US Steele is doing great. Google is the Op's friend. God forbid the idiot actually researched before posting bull shit.

"Looking at US steel stocks’ price action, markets don’t seem to be buying President Trump’s belief that the US steel industry is “thriving.”

 

[jc456]

Thanks! This gives me an idea!

JSW Steel is still ramping up operations at other sites. Recently, Australia’s BlueScope Steel committed $1 billion towards US operations.

Can't make it up!!!

"Looking at US steel stocks’ price action, markets don’t seem to be buying President Trump’s belief that the US steel industry is “thriving.”

JSW Steel is still ramping up operations at other sites. Recently, Australia’s BlueScope Steel committed $1 billion towards US operations.

 

[Cellblock2429]

Saving the US steel industry was one of Trump's reasons for imposing tariffs on steel.

But like all of Donald Trump's gut decisions, it went bust.

"US steel production and capacity utilization ratios have fallen"

"New investments have been put on hold".

Trump is clueless in the White House and his chaotic antics are damaging the USA and the world economy.

US Steel Industry Has Plenty of Bad News for Trump - Market Realist

US Steel Industry Has Plenty of Bad News for Trump
WRITTEN BY MOHIT OBEROI, CFA

The US steel industry might have plenty of bad news for President Trump. The US steel production and capacity utilization ratios have fallen. New investments have been put on hold. There have been some layoffs as well.

US steel stocks including U.S. Steel, AK Steel, and Nucor have fallen sharply in August.
US steel industry
Protecting the US steel industry was among the Trump administration’s key priorities. Last year, President Trump approved a 25% tariff on US steel imports. The administration hoped that the tariffs would give US steel companies a level playing field. Initially, the tariffs propelled US steel companies’ stock prices. There was a wave of new investments and restarts. Last year, US steel production also rose, while imports fell. Despite seemingly strong fundamentals, companies like U.S. Steel (X), AK Steel (AKS), and Nucor (NUE) closed with losses last year.
Things have changed this year
Last year, the US steel industry gave President Trump a lot of good news. President Trump visited U.S. Steel’s Granite City facility last year after the company announced a restart. However, over the last few months, the US steel industry hasn’t had much good news for President Trump. In June, U.S. Steel announced the partial closure of two of its US blast furnaces. In August, U.S. Steel’s regulatory filings showed that it plans to fire some workers in Michigan.
US steel industry and layoffs
U.S. Steel announced the closure of a tin mill. ArcelorMittal (MT) also announced the closure of a tin mill. Both of the closures would lead to more layoffs. Notably, the layoffs are coming shortly after President Trump claimed that the US steel industry is “thriving” under his administration.
US steel industry’s capacity utilization falls
According to the American Iron & Steel Association, the US steel industry’s capacity utilization fell to 79.8% in the week ending August 17. That week, US steel production fell on a weekly and yearly basis. Incidentally, the Department of Commerce intended to increase the US steel industry’s capacity utilization ratio above 80% through the Section 232 tariffs. While US steel production and capacity utilization ratios rose last year, they started to falter over the last few months.
Where are the new investments?
JSW Steel USA has also put a planned expansion on hold. On August 20, S&P Global Platts said, “While JSW USA is fully underway in modernizing the plate mill at Baytown, Texas, given the current market conditions and the prevailing policy environment, the company has for now decided to put on hold the backward integration project of installing an electric arc furnace and slab caster at Baytown.”
However, the steel industry isn’t all gloom and doom. JSW Steel is still ramping up operations at other sites. Recently, Australia’s BlueScope Steel committed $1 billion towards US operations. Australia was among the first countries to get a Section 232 exemption last year.
US steel stocks
US steel stocks are having a hard time in August. U.S. Steel (X), AK Steel (AKS), and Nucor (NUE) have fallen 25.3%, 23.0%, and 13.7%, respectively. All of these stocks are trading with a year-to-date loss. However, broader US market indices are still in the green for the year. Looking at US steel stocks’ price action, markets don’t seem to be buying President Trump’s belief that the US steel industry is “thriving.”

/——-/ From your link. “However, the steel industry isn’t all gloom and doom. JSW Steel is still ramping up operations at other sites. Recently, Australia’s BlueScope Steel committed $1 billion towards US operations. Australia was among the first countries to get a Section 232 exemption last year.”
BTW, what would Hildabeast have done to protect US Steel jobs? Crazy Bernie? Old Joe — this must be Vermont?

 

[SassyIrishLass]

SassyIrishLass Whatcha think?

US Steel's cash flow is the tell tale sign. It's about half of capital investments. They beat earnings but that's why the stock has tanked. No way that can continue

 

[Denizen]

Saving the US steel industry was one of Trump's reasons for imposing tariffs on steel.

But like all of Donald Trump's gut decisions, it went bust.

"US steel production and capacity utilization ratios have fallen"

"New investments have been put on hold".

Trump is clueless in the White House and his chaotic antics are damaging the USA and the world economy.

US Steel Industry Has Plenty of Bad News for Trump - Market Realist

US Steel Industry Has Plenty of Bad News for Trump
WRITTEN BY MOHIT OBEROI, CFA

The US steel industry might have plenty of bad news for President Trump. The US steel production and capacity utilization ratios have fallen. New investments have been put on hold. There have been some layoffs as well.

US steel stocks including U.S. Steel, AK Steel, and Nucor have fallen sharply in August.
US steel industry
Protecting the US steel industry was among the Trump administration’s key priorities. Last year, President Trump approved a 25% tariff on US steel imports. The administration hoped that the tariffs would give US steel companies a level playing field. Initially, the tariffs propelled US steel companies’ stock prices. There was a wave of new investments and restarts. Last year, US steel production also rose, while imports fell. Despite seemingly strong fundamentals, companies like U.S. Steel (X), AK Steel (AKS), and Nucor (NUE) closed with losses last year.
Things have changed this year
Last year, the US steel industry gave President Trump a lot of good news. President Trump visited U.S. Steel’s Granite City facility last year after the company announced a restart. However, over the last few months, the US steel industry hasn’t had much good news for President Trump. In June, U.S. Steel announced the partial closure of two of its US blast furnaces. In August, U.S. Steel’s regulatory filings showed that it plans to fire some workers in Michigan.
US steel industry and layoffs
U.S. Steel announced the closure of a tin mill. ArcelorMittal (MT) also announced the closure of a tin mill. Both of the closures would lead to more layoffs. Notably, the layoffs are coming shortly after President Trump claimed that the US steel industry is “thriving” under his administration.
US steel industry’s capacity utilization falls
According to the American Iron & Steel Association, the US steel industry’s capacity utilization fell to 79.8% in the week ending August 17. That week, US steel production fell on a weekly and yearly basis. Incidentally, the Department of Commerce intended to increase the US steel industry’s capacity utilization ratio above 80% through the Section 232 tariffs. While US steel production and capacity utilization ratios rose last year, they started to falter over the last few months.
Where are the new investments?
JSW Steel USA has also put a planned expansion on hold. On August 20, S&P Global Platts said, “While JSW USA is fully underway in modernizing the plate mill at Baytown, Texas, given the current market conditions and the prevailing policy environment, the company has for now decided to put on hold the backward integration project of installing an electric arc furnace and slab caster at Baytown.”
However, the steel industry isn’t all gloom and doom. JSW Steel is still ramping up operations at other sites. Recently, Australia’s BlueScope Steel committed $1 billion towards US operations. Australia was among the first countries to get a Section 232 exemption last year.
US steel stocks
US steel stocks are having a hard time in August. U.S. Steel (X), AK Steel (AKS), and Nucor (NUE) have fallen 25.3%, 23.0%, and 13.7%, respectively. All of these stocks are trading with a year-to-date loss. However, broader US market indices are still in the green for the year. Looking at US steel stocks’ price action, markets don’t seem to be buying President Trump’s belief that the US steel industry is “thriving.”

/——-/ From your link. “However, the steel industry isn’t all gloom and doom. JSW Steel is still ramping up operations at other sites. Recently, Australia’s BlueScope Steel committed $1 billion towards US operations. Australia was among the first countries to get a Section 232 exemption last year.”
BTW, what would Hildabeast have done to protect US Steel jobs? Crazy Bernie? Old Joe — this must be Vermont?

Bankrupts are being attracted to Trump's favorite sunset industries like flies to rotting corpses.

Bluescope does appear to be suffering some gloom and doom.

Australia's BlueScope Steel forecasts weak first-half, shares drop - Reuters

Australia's BlueScope Steel forecasts weak first-half, shares drop
2 MIN READ
Aug 19 (Reuters) - Australia’s BlueScope Steel Ltd warned lower sales margins would crimp first half earnings as it posted a fall in full-year profit on Monday, prompting the biggest drop in the company’s shares in two years.
Bluescope said its underlying earnings before interest and tax (EBIT) for the current half would be about 45% lower than the A$499 million it reported in the second half of fiscal 2019, dragged down by weaker commodity steel spreads in its Australia and U.S. steel businesses.
Bluescope’s shares fell as much as 10.8%, the biggest intraday drop since August 2017, to their lowest since June 18, compared with a 0.8% jump in the broader market.

 

[Erinwltr]

Thanks! This gives me an idea!

JSW Steel is still ramping up operations at other sites. Recently, Australia’s BlueScope Steel committed $1 billion towards US operations.

Can't make it up!!!

"Notably, the layoffs are coming shortly after President Trump claimed that the US steel industry is “thriving” under his administration."

 

[SassyIrishLass]

Saving the US steel industry was one of Trump's reasons for imposing tariffs on steel.

But like all of Donald Trump's gut decisions, it went bust.

"US steel production and capacity utilization ratios have fallen"

"New investments have been put on hold".

Trump is clueless in the White House and his chaotic antics are damaging the USA and the world economy.

US Steel Industry Has Plenty of Bad News for Trump - Market Realist

US Steel Industry Has Plenty of Bad News for Trump
WRITTEN BY MOHIT OBEROI, CFA

The US steel industry might have plenty of bad news for President Trump. The US steel production and capacity utilization ratios have fallen. New investments have been put on hold. There have been some layoffs as well.

US steel stocks including U.S. Steel, AK Steel, and Nucor have fallen sharply in August.
US steel industry
Protecting the US steel industry was among the Trump administration’s key priorities. Last year, President Trump approved a 25% tariff on US steel imports. The administration hoped that the tariffs would give US steel companies a level playing field. Initially, the tariffs propelled US steel companies’ stock prices. There was a wave of new investments and restarts. Last year, US steel production also rose, while imports fell. Despite seemingly strong fundamentals, companies like U.S. Steel (X), AK Steel (AKS), and Nucor (NUE) closed with losses last year.
Things have changed this year
Last year, the US steel industry gave President Trump a lot of good news. President Trump visited U.S. Steel’s Granite City facility last year after the company announced a restart. However, over the last few months, the US steel industry hasn’t had much good news for President Trump. In June, U.S. Steel announced the partial closure of two of its US blast furnaces. In August, U.S. Steel’s regulatory filings showed that it plans to fire some workers in Michigan.
US steel industry and layoffs
U.S. Steel announced the closure of a tin mill. ArcelorMittal (MT) also announced the closure of a tin mill. Both of the closures would lead to more layoffs. Notably, the layoffs are coming shortly after President Trump claimed that the US steel industry is “thriving” under his administration.
US steel industry’s capacity utilization falls
According to the American Iron & Steel Association, the US steel industry’s capacity utilization fell to 79.8% in the week ending August 17. That week, US steel production fell on a weekly and yearly basis. Incidentally, the Department of Commerce intended to increase the US steel industry’s capacity utilization ratio above 80% through the Section 232 tariffs. While US steel production and capacity utilization ratios rose last year, they started to falter over the last few months.
Where are the new investments?
JSW Steel USA has also put a planned expansion on hold. On August 20, S&P Global Platts said, “While JSW USA is fully underway in modernizing the plate mill at Baytown, Texas, given the current market conditions and the prevailing policy environment, the company has for now decided to put on hold the backward integration project of installing an electric arc furnace and slab caster at Baytown.”
However, the steel industry isn’t all gloom and doom. JSW Steel is still ramping up operations at other sites. Recently, Australia’s BlueScope Steel committed $1 billion towards US operations. Australia was among the first countries to get a Section 232 exemption last year.
US steel stocks
US steel stocks are having a hard time in August. U.S. Steel (X), AK Steel (AKS), and Nucor (NUE) have fallen 25.3%, 23.0%, and 13.7%, respectively. All of these stocks are trading with a year-to-date loss. However, broader US market indices are still in the green for the year. Looking at US steel stocks’ price action, markets don’t seem to be buying President Trump’s belief that the US steel industry is “thriving.”

/——-/ From your link. “However, the steel industry isn’t all gloom and doom. JSW Steel is still ramping up operations at other sites. Recently, Australia’s BlueScope Steel committed $1 billion towards US operations. Australia was among the first countries to get a Section 232 exemption last year.”
BTW, what would Hildabeast have done to protect US Steel jobs? Crazy Bernie? Old Joe — this must be Vermont?

Bankrupts are being attracted to Trump's favorite sunset industries like flies to rotting corpses.

Bluescope does appear to be suffering some gloom and doom.

Australia's BlueScope Steel forecasts weak first-half, shares drop - Reuters

Australia's BlueScope Steel forecasts weak first-half, shares drop
2 MIN READ
Aug 19 (Reuters) - Australia’s BlueScope Steel Ltd warned lower sales margins would crimp first half earnings as it posted a fall in full-year profit on Monday, prompting the biggest drop in the company’s shares in two years.
Bluescope said its underlying earnings before interest and tax (EBIT) for the current half would be about 45% lower than the A$499 million it reported in the second half of fiscal 2019, dragged down by weaker commodity steel spreads in its Australia and U.S. steel businesses.
Bluescope’s shares fell as much as 10.8%, the biggest intraday drop since August 2017, to their lowest since June 18, compared with a 0.8% jump in the broader market.

Fail. Bluescope is making a one billion dollar US expansion due to cheap energy costs

 

[rightwinger]

But...but

What about global tariffs?

 

[Agit8r]

Certainly, closing us off from the world is bad for every export industry.

Tariffs are the Wrong Approach