Shares of steel manufacturers are getting a boost Wednesday morning following Tuesday night's earnings beat from United States Steel Corporation (NYSE: X), as revenues and sales growth handily beat expectations.
Sales came in at $4.59 billion versus estimates of $4.54 billion, while shipments rose 8 percent. Operating income of $479 million was the highest since 2008.
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Shares were trading higher by 6.7 percent at $40.79.
Other steel stocks, such as Nucor Corporation (NYSE: NUE) and BHP Billiton (NYSE: BHP) were also trending higher.