U.S. Steelmakers Trade Lower Due To Turkey Tariff Cut and Removal of Tariffs For Canada and Mexico
U.S. steelmaker shares traded lower on May 17, as reports indicated that U.S. government-imposed Turkish steel import tariffs would be reduced while those for Canada and Mexico would be lifted. Our outlook for the U.S. steel industry already assumed a gradual softening of trade protection over our explicit five-year forecast period, resulting in a decreasing premium for U.S. steel prices above world export prices. Therefore, our steel price deck and U.S. steelmaker fair values are unchanged. We ...United States Steel is a steel producer of flat-rolled and tubular products with production operations in the United States and Europe. The company is also engaged in railroad services and real estate operations. The company's segments are: North American Flat-Rolled, which produces slabs, strip mill plates, sheets and tin mill products; U. S. Steel Europe, which produces and sells slabs, strip mill plate, sheet, tin mill products and spiral welded pipe, as well as heating radiators and refractory ceramic materials; and Tubular Products, which produces and sells electric resistance welded steel casing and tubing (known as oil country tubular goods), and standard and line pipe and mechanical tubing.
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