Spread Between U.S. Steel Prices and Marginal Cost Set to Contract After Volatile 1Q for Steelmakers
The March 1 announcement of a 25% tariff on steel imports has shaken up the U.S. steel industry, serving as a boon for U.S. producers. Every operator in the U.S. steel supply chain under our coverage saw its stock price rise when the tariff program was announced. Subsequently, however, the exclusion of certain key trade partners and the extension of negotiating deadlines related to those exclusions have moderated exuberance about how much upside the tariffs will provide. In the near term, the ta...Reliance Steel & Aluminum is a metals service center company. The company provides metals processing services and distributes a line of metal products, including alloy, aluminum, brass, copper, carbon steel, stainless steel, titanium and specialty steel products, to its customers in a range of industries, including general manufacturing, non-residential construction (including infrastructure), transportation (rail, truck trailer and shipbuilding), aerospace and defense, energy (oil and gas), electronics and semiconductor fabrication, and heavy industry (agricultural, construction and mining equipment). The company also services the auto industry, primarily through its toll processing operations.
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.
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