Steel and Aluminum Tariffs Levied on Canada, Mexico, and EU; Raising U.S. Price Decks and FVEs
With 25% steel tariffs and 10% aluminum tariffs now set to take hold for imports from Canada, Mexico, and the European Union, we've raised our steel and aluminum pricing outlook. Previously, we expected that these key trading partners would remain exempt from the Trump administration's tariff program and instead be subject only to import quotas.We expect to raise our fair value estimates for the U.S. steel and aluminum companies we cover as a result of our more favorable pricing outlook. The ma...
Schnitzer Steel Industries is engaged as a recycler of ferrous and nonferrous scrap metal, including end-of-life vehicles, and a manufacturer of finished steel products. The company has two segments: Auto and Metals Recycling, which acquires and recycles ferrous and nonferrous scrap metal for sale to foreign and domestic metal producers, processors and brokers, and procures salvaged vehicles and sells serviceable used auto parts from these vehicles through a network of self-service auto parts stores; and Cascade Steel and Scrap, which produces a range of finished steel long products using ferrous recycled scrap metal and other raw materials.
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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