United States Steel Stock (NYSE:X), Trade Ideas

United States Steel

United States Steel Corp operates primarily in the United States but also has a steelmaking capacity in Slovakia. The company's operating segments include North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment includes U. S. Steel's integrated steel plants and equity investees in North America involved in the production of slabs, strip mill plates, sheets, and tin mill products, as well as all iron ore and coke production facilities in the United States. It primarily serves North American customers in the service center, conversion, transportation, construction, container, and appliance, and electrical markets.

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Biden&#39;s tariff warnings indicate continuing U.S.-China tensions, leading to criticism from the Chinese embassy.

Chinese Embassy Condemns Proposed U.S. Tariffs As Examples Of Unilateralism And Protectionism, As Biden Seeks To Court Critical Voters

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President Biden to propose 25% tariffs on Chinese steel and aluminum, targeting unfair trade practices and protecting US manufacturing jobs.

Biden To Announce Tariff Hikes On Chinese Steel, Aluminum Imports: Another &#39;Hit To Real Income And Consumer Spending,&#39; Economist Cautions

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Top Stories: Piedmont Lithium gets mining permit, Senators urge Biden to block Nippon Steel&#39;s acquisition of U.S. Steel, Ioneer progresses towards construction, IperionX enters titanium supply agreement. Benzinga Mining connects mining companies with retail investors.

Piedmont Receives A Mining Permit; Senators Against US Steel Deal; Ioneer Closer To Rhyolite Ridge Construction And More: Monday&#39;s Top Mining Stories

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The Biden administration&#8217;s warning of additional tariffs on <a href="https://www.benzinga.com/topic/china" target="_blank" rel="noreferrer noopener">China</a> indicates that strained relations will continue, <a href="https://www.benzinga.com/topic/2024-election" target="_blank" rel="noreferrer noopener">regardless of the election outcome.</a>
Last week, President&nbsp;<a target="_blank" href="https://www.benzinga.com/topic/joe-biden" rel="noreferrer noopener">Joe Biden</a>&nbsp;visited Pennsylvania, urging for increased tariffs<a target="_blank" href="https://www.benzinga.com/markets/asia/24/04/38300977/biden-calls-for-triple-tariffs-on-chinese-steel-aluminum-if-proven-theyre-cheating" rel="noreferrer noopener">&nbsp;on Chinese steel and aluminum goods</a>.&nbsp;
Top officials suggest more actions against China are forthcoming this election season, Reuters reported.
Recently, the administration initiated an inquiry into China&#8217;s efforts to control the maritime, logistics and shipbuilding sectors. 
Experts anticipate the probe&#8217;s outcome, coupled with a review of Trump-era trade policies, will lead to additional tariffs on Chinese imports, the report read.
Liu Pengyu, a spokesperson for the Chinese embassy in Washington, criticized U.S. tariffs as examples of unilateralism and protectionism, Reuters stated.
&#8220;Many trading partners of the United States, including China, are strongly dissatisfied with the United States&#8217; frequent use of national security, non-market behavior, overcapacity and other reasons to impose restrictions and politicize trade issues,&#8221; Pengyu said in a statement.
The Biden administration&#8217;s move to increase tariffs this week indicates a tough stance on trade, aligning with Biden and Trump&#8217;s strategies for the 2024 election, especially in rust-belt states.
If Trump returns to the White House, he aims to implement 10% import tariffs and gradually phase out Chinese imports like electronics and steel over four years.&nbsp;
Additionally, he seeks to ban Chinese ownership of U.S. energy and tech infrastructure, the report added.
&#8220;China is inevitably getting drawn into what&#8217;s likely to be a little bit of a chaotic cycle. And I think really, right now, we&#8217;re just seeing the beginnings of that,&#8221; said Allen Carlson, a Cornell University professor and expert on U.S.-China relations, Reuters added.
White House officials have denied political motivations, though Biden emphasized steel tariffs in a speech targeting Trump at the United States Steel Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) union headquarters in Pennsylvania.
They cited concerns over China&#8217;s exports undermining U.S. industries like solar and electric vehicles, fueled by China&#8217;s surging manufacturing trade surplus due to its slowing economy, Reuters added.
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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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United States Steel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) has outperformed the market over the past 5 years by 7.91% on an annualized basis producing an average annual return of 19.2%. Currently, United States Steel has a market capitalization of $8.74 billion. 
Buying $100 In X: If an investor had bought $100 of X stock 5 years ago, it would be worth $241.28 today based on a price of $38.87 for X at the time of writing.
<h3>United States Steel's Performance Over Last 5 Years</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713535275_0.png" alt="comp_fig" />
Finally -- what's the point of all this? The key insight to take from this article is to note how much of a difference compounded returns can make in your cash growth over a period of time.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Trading Ideas

$100 Invested In This Stock 5 Years Ago Would Be Worth $200 Today

White House's Brainard Says U.S. National Security Review Will Proceed As Normal On U.S. Steel

White House's Brainard, Asked About U.S. Steel, Says Steel Has National Security, Economic Security, Supply Chain Consideration

Financial giants have made a conspicuous bullish move on United States Steel. Our analysis of options history for United States Steel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) revealed 10 unusual trades.
Delving into the details, we found 70% of traders were bullish, while 30% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $203,610, and 6 were calls, valued at $598,766.
<h3>Projected Price Targets</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $35.0 to $49.0 for United States Steel over the recent three months. 
<h3>Insights into Volume &amp; Open Interest</h3>
In today's trading context, the average open interest for options of United States Steel stands at 18063.5, with a total volume reaching 3,453.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in United States Steel, situated within the strike price corridor from $35.0 to $49.0, throughout the last 30 days.
<h3>United States Steel Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1713455304_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>X</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$0.86</td>
<td>$0.04</td>
<td>$0.86</td>
<td>$42.00</td>
<td>$430.0K</td>
<td>837</td>
<td style="text-align: right;">4</td>
</tr>
<tr>
<td>X</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>10/18/24</td>
<td>$9.7</td>
<td>$9.65</td>
<td>$9.7</td>
<td>$49.00</td>
<td>$96.9K</td>
<td>226</td>
<td style="text-align: right;">100</td>
</tr>
<tr>
<td>X</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$5.0</td>
<td>$4.8</td>
<td>$4.85</td>
<td>$40.00</td>
<td>$46.0K</td>
<td>126.1K</td>
<td style="text-align: right;">142</td>
</tr>
<tr>
<td>X</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$3.55</td>
<td>$3.45</td>
<td>$3.5</td>
<td>$45.00</td>
<td>$41.3K</td>
<td>12.0K</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>X</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>05/17/24</td>
<td>$1.4</td>
<td>$0.21</td>
<td>$1.4</td>
<td>$40.00</td>
<td>$35.0K</td>
<td>1.6K</td>
<td style="text-align: right;">609</td>
</tr>
</tbody>
</table>

<h3>About United States Steel</h3>
United States Steel Corp operates primarily in the United States but also has a steelmaking capacity in Slovakia. The company's operating segments include North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment includes U. S. Steel's integrated steel plants and equity investees in North America involved in the production of slabs, strip mill plates, sheets, and tin mill products, as well as all iron ore and coke production facilities in the United States. It primarily serves North American customers in the service center, conversion, transportation, construction, container, and appliance, and electrical markets.
<h3>Present Market Standing of United States Steel</h3>
<ul>
<li>Trading volume stands at 905,722, with X's price up by 0.88%, positioned at $39.48.</li>
<li>RSI indicators show the stock to be is currently neutral between overbought and oversold.</li>
<li>Earnings announcement expected in 14 days.</li>
</ul>
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for United States Steel, <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> gives you real-time options trades alerts.

Options

This Is What Whales Are Betting On United States Steel

President Biden Says U.S. Steel Should Remain American Owned, Operated; China Is Cheating Not Competing On Steel

<a href="https://www.youtube.com/watch?v=D7KXHS2jRus">https://www.youtube.com/watch?v=D7KXHS2jRus</a>
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LIVE: Watch "President Biden Delivers Remarks At United Steelworkers Headquarters In Pittsburgh — 4/17/2024"

President Biden Says 'Guaranteed' He'll Keep U.S. Steel Domestic

Macro Economic Events

U.S. Steel Applauds Biden Administration's Trade Enforcement Against China, Including Potentially Higher Tariff Rate On Chinese Steel Co's

STLD

Benzinga Morning Update: Oil Continues Lower, Semis Drop After ASML Earnings, Steel And Aluminum Rise On Reports Biden Wants To Triple China Tariffs

On Wednesday, President Joe Biden is set to propose a significant adjustment in the nation&#8217;s trade policy towards China, aimed at strengthening the domestic steel sector and <a href="https://www.benzinga.com/topic/china">addressing broader industrial concerns.</a>
In a visit to Pittsburgh, Biden is expected to announce new 25% tariffs on specific Chinese steel and aluminum imports and initiate a comprehensive investigation into China&#8217;s shipbuilding practices.
This move is part of an effort to protect American manufacturing jobs and counteract what the administration views as unfair trade practices related to China&#8217;s industrial expansion, as Bloomberg <a href="https://www.bloomberg.com/news/articles/2024-04-17/higher-tariffs-on-chinese-steel-aluminum-sought-by-biden-in-2024-election-push?srnd=homepage-americas&amp;sref=TBDibEcD">reported</a> Wednesday. 
Biden will also emphasize the importance of keeping United States Steel Corp. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) under American control, countering potential foreign acquisitions.
<h4 class="wp-block-heading">Detailed Actions and Economic Implications</h4>
The proposal includes elevating Section 301 tariffs on a variety of Chinese steel and aluminum items, which currently attract lower tariffs of 0% or 7.5%, to the uniform rate of 25%. Products already under a 25% tariff will see no change in their rates. 
This decision will ultimately be determined by U.S. Trade Representative Katherine Tai, following a comprehensive review of existing tariff policies.
<h4 class="wp-block-heading">Targeting a Narrow Market Segment</h4>
Although Chinese steel and aluminum imports represent a small fraction of the U.S. market, totaling approximately $1.7 billion in 2023, these measures aim to preempt a surge in these imports and protect U.S. producers from unfair competitive pressures. 
The goal of these measures is to shield American manufacturing investments and jobs from China&#8217;s industrial excesses, as Lael Brainard, director of the National Economic Council, explained. 
In addition to metal tariffs, Biden&#8217;s administration is set to review China's extensive activities in the maritime, logistics, and shipbuilding sectors. This investigation seeks to understand and counteract China&#8217;s aggressive interventions in these areas, potentially paving the way for future policy actions.
Another strategic move includes collaborating with Mexico to prevent Chinese steel from entering the U.S. market indirectly. While the possibility of imposing tariffs on Mexican imports was not disclosed, the focus remains on finding a bilateral solution to this trade challenge.
<h3 class="wp-block-heading">Negative economic effects of trade tariffs</h3>
Ronnie Walker, an economist at Goldman Sachs, has highlighted how past tariffs have led to noticeable increases in consumer prices in the sectors targeted by these tariffs. 
&#8220;Studies found that tariffs also enabled domestic producers to opportunistically raise their prices,&#8221; Walker said. 
By comparing the prices of a basket of tariff-impacted goods with other core goods, Goldman Sachs demonstrated the clear inflationary effects of such policies implemented during the US-China trade war. 
&#8220;The direct impact of higher tariffs on GDP is likely to be modestly negative, with the hit to real income and consumer spending from higher prices outweighing the decline in the trade deficit, especially if other countries retaliate,&#8221; Walker wrote. 
Specifically, Goldman Sachs estimates that every 1 percentage point increase in effective tariff rates could reduce GDP by 0.13% if no retaliation occurs, and by 0.15% with retaliation.
&#8220;Tariff increases could meaningfully boost government revenues. In 2023, the US imported $3.1tn worth of goods, meaning that every 1pp increase in the effective tariff rate could raise over $30bn per year (or 0.1% of GDP),&#8221; he added.
Walker also stresses that during the US-China trade war, numerous exclusions were granted—over 2,000—which allowed certain imports to avoid tariffs by being sourced from other countries. 
This kind of strategic trade rerouting helps mitigate the impact of tariffs but also underscores the complexity of enforcing such trade barriers effectively.
Read now: <a href="https://www.benzinga.com/etfs/broad-u-s-equity-etfs/24/04/38278182/powell-delays-fed-rate-cuts-we-need-greater-confidence-in-inflation-2-year-yields-spik">Powell Delays Fed Rate Cuts, Says &#8216;We Need Greater Confidence In Inflation&#8217;: 2-Year Yields Spike To 5%</a>
Photo: Shutterstock

Biden To Announce Tariff Hikes On Chinese Steel, Aluminum Imports: Another 'Hit To Real Income And Consumer Spending,' Economist Cautions

Top Stories for April 15, 2024:
1. Piedmont Lithium (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PLL#NASDAQ">PLL</a>) received approval from the North Carolina Department of Environmental Quality for a mining permit for its <a href="https://www.benzinga.com/wiim/24/04/38245557/piedmont-lithium-shares-are-trading-higher-after-the-company-announced-that-it-received-mining-permi">Carolina Lithium project</a> in Gaston County. 
This permit, issued after a detailed review since August 2021, enables the construction, operation and reclamation of the site.&nbsp;
Piedmont&#8217;s CEO Keith Phillips highlighted the project&#8217;s potential as a low-cost, sustainable lithium operation crucial to the U.S. electric vehicle supply chain, expected to significantly boost Gaston County&#8217;s economy and create hundreds of jobs.
2. Two steel-state Democratic senators from Ohio and Pennsylvania are urging President Joe Biden to block Nippon Steel&#8217;s acquisition of U.S. Steel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>), citing national security and job concerns. 
Biden has publicly opposed the deal, emphasizing that the company should remain American-owned, and is putting the deal through a secretive national security review.&nbsp;
The transaction also faces an extended antitrust probe from the Justice Department, potentially delaying its completion.
Also Read:<a href="https://www.benzinga.com/topic/mining"> </a><a href="https://www.benzinga.com/news/24/04/38220578/canada-nickel-ramps-up-ontarios-crawford-project-we-are-confidently-moving-into-this-next-phase">Canada Nickel Ramps Up Ontario&#8217;s Crawford Project: &#8216;We Are Confidently Moving Into This Next Phase&#8217;</a>
3. Ioneer (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IONR#NASDAQ">IONR</a>) progresses toward construction at its Rhyolite Ridge Lithium-Boron site with the Bureau of Land Management&#8217;s upcoming release of a draft Environmental Impact Statement, marking a major milestone in the project's environmental review. 
This document is pivotal for advancing U.S. lithium production and includes measures to protect the endangered Tiehm&#8217;s buckwheat.&nbsp;
Public comment on the draft will begin on April 19, followed by a final review and decision expected by October 2024.&nbsp;
If approved, construction will start post-final investment decision, with production anticipated in 2027.
4. IperionX (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/IPX#NASDAQ">IPX</a>) entered a framework agreement with United Stars Holdings to potentially supply up to 80 metric tons of titanium products annually for 10 years. 
These products will serve the defense and advanced technology sectors, featuring uses in vehicle drivetrains, robotic motors and wind turbines.&nbsp;
IperionX is developing a comprehensive American titanium supply chain, incorporating U.S.-sourced titanium minerals, advanced refining technologies and extensive recycling capabilities to produce cost-effective, high-performance titanium alloys.
Now Read:<a href="https://www.benzinga.com/"> </a><a href="https://www.benzinga.com/news/24/04/38248505/us-uk-clamp-down-on-russian-metals-trade-due-to-its-brutal-ward-against-ukraine">US, UK Clamp Down On Russian Metals Trade Due To &#8216;Its Brutal War Against Ukraine&#8217;</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!
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Piedmont Receives A Mining Permit; Senators Against US Steel Deal; Ioneer Closer To Rhyolite Ridge Construction And More: Monday's Top Mining Stories

United States Steel Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/x#NYSE">X</a>) said that its shareholders have approved its proposed merger with Nippon Steel Corporation (&quot;NSC&quot;), marking a key milestone toward the completion of the transaction. 
More than 98% of the shares voted at the special meeting of stockholders held on Apr 12, 2024 were voted in favor of the proposal to adopt the merger agreement, based on the preliminary vote count. 
U.S. Steel stated that the overwhelming support from its shareholders is a clear recognition of the compelling rationale for the deal. The transaction will strengthen U.S. Steel and the domestic steel industry and enhance the legacy of steel that is made in America in the wake of unfair competition from China, X noted. 
U.S. Steel and NSC officially entered into a definitive agreement in December 2023, under which, NSC agreed to acquire U.S. Steel in an all-cash deal at $55 per share. The transaction is valued at roughly $14.1 billion-plus assumed debt, equating to a total enterprise value of $14.9 billion. The purchase price of $55 per share represents a substantial 40% premium over U.S. Steel&#39;s closing stock price as of Dec 15, 2023. 
NSC noted that the strategic move to acquire U.S. Steel is aimed at augmenting its global manufacturing and technology capabilities. The acquisition will facilitate an expansion of NSC&#39;s geographical reach, allowing it to better serve stakeholders, including customers and society at large. This strategic expansion will notably increase NSC&#39;s production in the United States, complementing its existing strongholds in Japan, ASEAN and India. 
With the acquisition, NSC&#39;s total annual crude steel capacity is expected to reach 86 million tons, aligning with its strategic objective of achieving 100 million tons of global crude steel capacity annually. NSC also underscored the synergies arising from the transaction, emphasizing the amalgamation of cutting-edge technologies and manufacturing capabilities. 
However, the deal has drawn significant opposition from the Biden administration on concerns about the implications on U.S. national security, supply chains and steel jobs. President Joe Biden, last month, said that U.S. Steel should remain American owned and operated. The U.S. Department of Justice has reportedly launched an extended antitrust investigation into the proposed merger. The United Steelworkers union has also expressed concerns of potential job losses from the transaction. 
U.S. Steel&#39;s shares have rallied 57.4% over the past year, outperforming the 11.3% rise of its industry.
<img alt="Zacks Investment Research" src="https://staticx-tuner.zacks.com/images/articles/charts/3d/64986.jpg?v=830857229" /> 
Image Source: Zacks Investment Research
<h3>Zacks Rank &amp; Key Picks</h3>
U.S. Steel currently carries a Zacks Rank #3 (Hold). 
Better-ranked stocks worth a look in the basic materials space include Denison Mines Corp. (AMEX:DNN), Carpenter Technology Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/crs#NYSE">CRS</a>) and Innospec Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/iosp#NASDAQ">IOSP</a>). 
Denison Mines beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 300%. The company&#39;s shares have soared roughly 105% in the past year. DNN carries a Zacks Rank #1 (Strong Buy). 
The Zacks Consensus Estimate for Carpenter Technology&#39;s current fiscal year earnings is pegged at $3.96, indicating a year-over-year surge of 247.4%. CRS beat the Zacks Consensus Estimate in three of the last four quarters while matching it once, with the average earnings surprise being 12.2%. The company&#39;s shares have rallied around 68% in the past year. CRS currently carries a Zacks Rank #2 (Buy). 
The consensus estimate for Innospec&#39;s current-year earnings is pegged at $6.72 per share, indicating a 10.3% year-over-year rise. IOSP, carrying a Zacks Rank #2, beat the consensus estimate in each of the last four quarters, with the average earnings surprise being 10.5%. The company&#39;s shares have gained around 14% in the past year.
<a href="https://www.zacks.com/stock/news/2255178/u-s-steel-x-shareholders-clear-transaction-with-nippon-steel?cid=CS-BENZ-FT-analyst_blog|company_news_-_corporate_actions-2255178">To read this article on Zacks.com click here.</a>

IOSP

U.S. Steel Shareholders Clear Transaction with Nippon Steel

Top Stories for April 12, 2024:
1. U.S. Steel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) and Nippon Steel are considering delaying the closure of their <a href="https://www.benzinga.com/m-a/24/04/38221500/us-steel-and-nippon-steel-mull-pushing-back-date-to-seal-deal-bloomberg">$14.1 billion deal</a> until the second half of 2024 due to political resistance and ongoing investigations. 
Initially expected to close by mid-2024, the deal faces opposition from the United Steelworkers and President Joe Biden, with a national security review potentially extending into 2025. 
Additionally, the Justice Department has launched an extended antitrust investigation into the acquisition.
2. Atlas Lithium (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ATLX#NASDAQ">ATLX</a>) secured investments and supply agreements with Chengxin Lithium Group and Yahua Industrial Group, key suppliers to Tesla (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TSLA#NASDAQ">TSLA</a>), BYD (OTC:<a class="ticker" href="https://www.benzinga.com/stock/BYDDF#OTC">BYDDF</a>) and LG (OTC:<a class="ticker" href="https://www.benzinga.com/stock/LGEIY#OTC">LGEIY</a>).
These partnerships achieved Atlas&#8217;s initial $49.5 million production costs.&nbsp;
The company will accelerate its production using modular DMS technology and outsourcing, with a Brazil-based phase 1 DMS plant set to start in Q4 2024.
Also Read:<a href="https://www.benzinga.com/topic/mining"> </a><a href="https://www.benzinga.com/markets/asia/24/04/38190070/iron-ore-surge-boosts-australian-dollar-as-rio-tinto-invests-in-innovation">Iron Ore Surge Boosts Australian Dollar As Rio Tinto Invests in Innovation</a>
3. ATI (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ATI#NYSE">ATI</a>) celebrated the completion of its advanced Vandergrift Operations expansion, marking a major step in transforming its Specialty Rolled Products to lead in titanium and nickel-based alloys. 
This consolidation will boost production of high-value materials, enhancing attributes like thickness and coil size with the world&#8217;s shortest lead times.&nbsp;
The facility features a new 200-foot tall bright anneal line with cutting-edge controls, enhancing ATI's capabilities in aerospace and defense material production.
4. Argan (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGX#NASDAQ">AGX</a>) reported fiscal 2024 results, with consolidated revenues rising 26% to $573.3 million and EBITDA up 7% to $51.3 million.
Argan is optimistic about new opportunities in renewable and natural gas projects, driven by growing energy demands from data centers and electric vehicles.&nbsp;
Despite challenges, including a $13.6 million loss related to the Kilroot Power Station project in Northern Ireland, the company remains positive about its market position and capabilities in energy facility construction and support.&nbsp;
Fourth quarter revenues grew 38.5% year-over-year to $164.6 million, with gross profit at $23.6 million, despite losses from nearing completion projects like Kilroot.&nbsp; The fourth quarter also saw project backlogs increase to $757 million.
Now Read:<a href="https://www.benzinga.com/"> </a><a href="https://www.benzinga.com/m-a/24/04/38201281/revival-gold-acquires-ensign-minerals-to-become-a-cash-flowing-mid-tier-us-gold-producer">Revival Gold Acquires Ensign Minerals &#8216;To Become A Cash-Flowing Mid-Tier US Gold Producer&#8217;</a>
Benzinga Mining is the bridge between mining companies and retail investors. Reach out to <a href="mailto:licensing@benzinga.com">licensing@benzinga.com</a> to get connected with the Benzinga community!
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ATLX

BYDDF

LGEIY

TSLA

US Steel Delays Deal With Nippon; Atlas Lithium Secures New Financing; ATI Completes Expansion And More: Friday's Top Mining Stories

Quarterly financial reports play a vital role on Wall Street, as they help investors see how a company has performed and what might be coming down the road in the near-term. And out of all of the metrics and results to consider, earnings is one of the most important.
We know earnings results are vital, but how a company performs compared to bottom line expectations can be even more important when it comes to stock prices, especially in the near-term. This means that investors might want to take advantage of these earnings surprises.
The ability to identify stocks that are likely to top quarterly earnings expectations can be profitable, but it&#39;s no simple task. Here at Zacks, our Earnings ESP filter helps make things easier.
The Zacks Earnings ESP, Explained
The Zacks Earnings ESP is more formally known as the Expected Surprise Prediction, and it aims to grab the inside track on the latest analyst estimate revisions ahead of a company&#39;s report. The idea is relatively intuitive as a newer projection might be based on more complete information.
The core of the ESP model is comparing the Most Accurate Estimate to the Zacks Consensus Estimate, where the resulting percentage difference between the two equals the Expected Surprise Prediction. The Zacks Rank is also factored into the ESP metric to better help find companies that appear poised to top their next bottom-line consensus estimate, which will hopefully help lift the stock price.
In fact, when we combined a Zacks Rank #3 (Hold) or better and a positive Earnings ESP, stocks produced a positive surprise 70% of the time. Perhaps most importantly, using these parameters has helped produce 28.3% annual returns on average, according to our 10 year backtest.
Most stocks, about 60%, fall into the #3 (Hold) category, and they are expected to perform in-line with the broader market. Stocks with a #2 (Buy) and #1 (Strong Buy) rating, or the top 15% and top 5% of stocks, respectively, should outperform the market, with Strong Buy stocks outperforming more than any other rank.
Should You Consider Cleveland-Cliffs?
Now that we understand what the ESP is and how beneficial it can be, let&#39;s dive into a stock that currently fits the bill. Cleveland-Cliffs (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/clf#NYSE">CLF</a>) earns a #3 (Hold) right now and its Most Accurate Estimate sits at $0.21 a share, just 10 days from its upcoming earnings release on April 22, 2024.
By taking the percentage difference between the $0.21 Most Accurate Estimate and the $0.19 Zacks Consensus Estimate, Cleveland-Cliffs has an Earnings ESP of +12%. Investors should also know that CLF is one of a large group of stocks with positive ESPs. Make sure to utilize our Earnings ESP Filter to uncover the best stocks to buy or sell before they&#39;ve reported.
CLF is just one of a large group of Basic Materials stocks with a positive ESP figure. United States Steel (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/x#NYSE">X</a>) is another qualifying stock you may want to consider.
Slated to report earnings on April 25, 2024, United States Steel holds a #3 (Hold) ranking on the Zacks Rank, and it&#39;s Most Accurate Estimate is $0.89 a share 13 days from its next quarterly update.
United States Steel&#39;s Earnings ESP figure currently stands at +11.94% after taking the percentage difference between its Most Accurate Estimate and its Zacks Consensus Estimate of $0.79.
CLF and X&#39;s positive ESP metrics may signal that a positive earnings surprise for both stocks is on the horizon.
Find Stocks to Buy or Sell Before They&#39;re Reported
Use the Zacks Earnings ESP Filter to turn up stocks with the highest probability of positively, or negatively, surprising to buy or sell before they&#39;re reported for profitable earnings season trading.
Highest Returns for Any Asset Class
It&#39;s not even close. Despite ups and downs, Bitcoin has been more profitable for investors than any other decentralized, borderless form of money.
No guarantees for the future, but in the past three presidential election years, Bitcoin&#39;s returns were as follows: 2012 +272.4%, 2016 +161.1%, and 2020 +302.8%. Zacks predicts another significant surge in months to come.
<a href="https://www.zacks.com/stock/news/2254305/how-to-find-strong-basic-materials-stocks-slated-for-positive-earnings-surprises?cid=CS-BENZ-FT-tale_of_the_tape|zacks_education_earnings_esp-2254305">To read this article on Zacks.com click here.</a>

How to Find Strong Basic Materials Stocks Slated for Positive Earnings Surprises

Whales with a lot of money to spend have taken a noticeably bearish stance on United States Steel.
Looking at options history for United States Steel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) we detected 9 trades.
If we consider the specifics of each trade, it is accurate to state that 44% of the investors opened trades with bullish expectations and 55% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $147,740 and 6, calls, for a total amount of $248,320.
<h3>Expected Price Movements</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $35.0 to $45.0 for United States Steel during the past quarter. 
<h3>Insights into Volume &amp; Open Interest</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for United States Steel's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of United States Steel's whale activity within a strike price range from $35.0 to $45.0 in the last 30 days. 
<h3>United States Steel Option Activity Analysis: Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1712942218_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th>Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>X</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$4.9</td>
<td>$4.6</td>
<td>$4.9</td>
<td>$45.00</td>
<td>$78.4K</td>
<td>4.5K</td>
<td>0</td>
</tr>
<tr>
<td>X</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/17/25</td>
<td>$6.3</td>
<td>$4.75</td>
<td>$6.3</td>
<td>$42.00</td>
<td>$56.0K</td>
<td>817</td>
<td>0</td>
</tr>
<tr>
<td>X</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>04/19/24</td>
<td>$1.0</td>
<td>$0.8</td>
<td>$1.0</td>
<td>$42.00</td>
<td>$53.8K</td>
<td>11.1K</td>
<td>1.6K</td>
</tr>
<tr>
<td>X</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>07/19/24</td>
<td>$3.5</td>
<td>$3.2</td>
<td>$3.5</td>
<td>$42.00</td>
<td>$42.7K</td>
<td>200</td>
<td>122</td>
</tr>
<tr>
<td>X</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$13.8</td>
<td>$11.3</td>
<td>$12.7</td>
<td>$35.00</td>
<td>$40.6K</td>
<td>833</td>
<td>18</td>
</tr>
</tbody>
</table>

<h3>About United States Steel</h3>
United States Steel Corp operates primarily in the United States but also has a steelmaking capacity in Slovakia. The company's operating segments include North American Flat-Rolled (Flat-Rolled), Mini Mill, U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-Rolled segment includes U. S. Steel's integrated steel plants and equity investees in North America involved in the production of slabs, strip mill plates, sheets, and tin mill products, as well as all iron ore and coke production facilities in the United States. It primarily serves North American customers in the service center, conversion, transportation, construction, container, and appliance, and electrical markets.
In light of the recent options history for United States Steel, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Where Is United States Steel Standing Right Now?</h3>
<ul>
<li>With a trading volume of 1,898,748, the price of X is down by -2.32%, reaching $41.25.</li>
<li>Current RSI values indicate that the stock is may be approaching overbought.</li>
<li>Next earnings report is scheduled for 13 days from now.</li>
</ul>
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for United States Steel with <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Spotlight on United States Steel: Analyzing the Surge in Options Activity

Management

NPSCY

U.S. Steel Shareholders Approve Nippon Steel's Takeover Offer

<a href="https://www.bloomberg.com/news/articles/2024-04-12/us-steel-and-nippon-steel-mull-pushing-back-date-to-seal-deal" title="https://www.bloomberg.com/news/articles/2024-04-12/us-steel-and-nippon-steel-mull-pushing-back-date-to-seal-deal">https://www.bloomberg.com/news/articles/2024-04-12/us-steel-and-nippon-steel-mull-pushing-back-date-to-seal-deal</a>

'US Steel And Nippon Steel Mull Pushing Back Date To Seal Deal' - Bloomberg

In a recent Reddit post, user SunsetKittens shares insights on why Petrobras Brasileiro (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PBR#NYSE">PBR</a>) stock presents a compelling investment opportunity. Known for previous successful stock picks like United States Steel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) and Teledyne Technologies (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TDY#NYSE">TDY</a>), SunsetKittens now focuses on Petrobras, a state-owned oil <a href="https://www.benzinga.com/topic/brazil">company in Brazil</a>.
The iShares Inc iShares MSCI Brazil ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EWZ#NYSE">EWZ</a>) offers exposure to Brazil equity markets. Petrobras stock holds second place in EWZ in terms of allocation, at 9.36% of the portfolio.
<figure class="wp-block-embed is-type-rich is-provider-reddit wp-block-embed-reddit"> 
<div class="wp-block-embed__wrapper">
<blockquote class="reddit-embed-bq" style="height:316px" ><a href="https://www.reddit.com/r/stocks/comments/1bzo8pr/pbr_petrobras_a_great_value_stock/">PBR Petrobras &#8211; a great Value Stock</a> by<a href="https://www.reddit.com/user/SunsetKittens/">u/SunsetKittens</a> in<a href="https://www.reddit.com/r/stocks/">stocks</a></blockquote>
<script async src="https://embed.reddit.com/widgets.js" charset="UTF-8"></script></div>
</figure>
<h2 class="wp-block-heading">Petrobras As A Value Investment</h2>
SunsetKittens points out that Petrobras is currently trading at around $15.50, offering a market cap of over $100 billion. With strong financial metrics, including $4.80 per share in free cash flow in 2023 and a break-even oil price of $20 per barrel, Petrobras appears undervalued in the market.
Also Read: <a href="https://www.benzinga.com/news/earnings/24/03/37626987/petrobras-reportedly-pulls-back-on-dividends">Petrobras Reportedly Pulls Back On Dividends</a>
<h2 class="wp-block-heading">Assessing Risks Under President Lula&#8217;s Administration</h2>
Despite a decrease in dividend yield, SunsetKittens sees potential for future growth, although acknowledges uncertainty regarding government policies under President Lula Da Silva&#8216;s administration. Lula&#8217;s focus on green energy initiatives raises questions about potential interference in Petrobras&#8217; operations, reminiscent of similar concerns faced by other companies like Meta Platforms in 2023.
&#8220;Now like Zuck chasing the Metaverse Lula will be chasing green energy a tad. But will he kill the golden goose that funds his government?&#8221; Sunsetkittens said.
However, SunsetKittens remains optimistic, drawing parallels between Petrobras and successful investments like Meta. With only 30% of its oil sold internationally, Petrobras benefits from domestic price controls, ensuring stable profits even amid global market fluctuations.
<h2 class="wp-block-heading">Responses from the Investment Community</h2>
Responses from fellow Redditors offer mixed opinions, reflecting ongoing debates within the investment community. While some highlight risks associated with government intervention and market volatility, others see Petrobras as an attractive long-term investment opportunity, especially considering its strong position in the oil market.
<figure class="wp-block-embed is-type-rich is-provider-reddit wp-block-embed-reddit"> 
<div class="wp-block-embed__wrapper">
<blockquote class="reddit-embed-bq" ><a href="https://www.reddit.com/r/stocks/comments/1bzo8pr/comment/kytgl7u/">Comment</a> by<a href="https://www.reddit.com/user/SunsetKittens/">u/SunsetKittens</a> from discussion<a href="https://www.reddit.com/r/stocks/comments/1bzo8pr/pbr_petrobras_a_great_value_stock/"><no value></no></a> in<a href="https://www.reddit.com/r/stocks/">stocks</a></blockquote>
<script async src="https://embed.reddit.com/widgets.js" charset="UTF-8"></script></div>
</figure>
<h2 class="wp-block-heading">Petrobras &#8211; A Value Proposition in Flux</h2>
Petrobras offers a unique value proposition for investors willing to navigate potential risks. As the debate continues, it remains to be seen whether Petrobras will maintain its status as a lucrative investment or face challenges under changing government policies.
Read Next: <a href="https://www.benzinga.com/news/24/04/38136952/marjorie-taylor-greene-issues-warning-whats-happening-in-brazil-could-happen-in-america-amid-elon-mu">Marjorie Taylor Greene Issues Warning: &#8216;What&#8217;s Happening In Brazil Could Happen In America&#8217; Amid Elon Musk&#8217;s X Account Blocking Controversy</a>
Photo: Shutterstock

Long Ideas

Social Media

Emerging Markets

Opinion

Will Brazil's President 'Kill The Golden Goose That Funds His Government?': Redditor Argues Petrobras Stock Offers Great Value

Japan's Kishida On Nippon-U.S. Steel Deal, Says Japan Believes Appropriate Procedures Based On U.S. Law Are Being Implemented By U.S. Government; Hope To Cement Win-Win Relationship

The wagons are circling, and with an election just a few months out, a unified front is going up across incumbent Washington, even on some of the s...

Treasury Secretary Yellen Backs Biden on U.S. Steel (NYSE:X) Deal

Biden trip to Pennsylvania to include trip to USW headquarters - report

Biden administration calls for tripling China tariffs on steel, aluminum imports

US Steel falls as Biden says company will remain American owned

U.S. Steel (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/X#NYSE">X</a>) finished almost 3% lower in today's trading after President Joe Biden claimed that the company will remain American despite Jap...

U.S. Steel (NYSE:X) Slides as Biden Continues Opposing Nippon Merger

Cleveland-Cliffs Q1 2024 Earnings: Capital Allocation And Costs Are In The Spotlight

U.S. Steel: Staying Positive

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Things seemed to be slowing down after interest rates were raised eleven times in the previous 18 months, but according to the most recent data, the inflation rate <a href="https://www.investopedia.com/inflation-heated-up-in-march-8629363">for the last 12 months as of March is 3.5%</a>, which has many people searching for steel stocks to sell from their portfolio.



The logic is straightforward. Steel stocks are closely linked to the overall economy and are part of a very cyclical sector. Because markets were anticipating at least three rate decreases in 2024, the first quarter was favorable. With January and February 2024 <a href="https://www.cnbc.com/2024/03/12/cpi-inflation-report-february-2024-.html">inflation rates of 3.1% and 3.2%</a>, respectively, the most recent inflation data contrasts poorly, which changes the mood and warns of peril for steel businesses with heavy debt loads and premium values.



<h2>ArcelorMittal (MT)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/08/mt-stock-1-300x169.jpg" alt="The logo for ArcelorMittal SA (MT) is displayed on a large sign on a blue wall."><div>Source: Massimo Todaro / Shutterstock.com</div></div>ArcelorMittal (NYSE:<a href="https://investorplace.com/stock-quotes/mt-stock-quote/">MT</a>) enjoys the benefits of scale and a global footprint, but a heavy debt load lands it on this list of steel stocks to sell.



Economic downturns or global steel demand drops might disproportionately affect such enterprises, particularly if loan rates remain high and show little indication of change.



In December 2021, the global steel corporation spent $357 million in interest charges and, recently, $715 million. Additionally, U.S. metal sheet costs are falling. For February 28, <a href="https://www.ryerson.com/resource/the-gauge/are-steel-prices-coming-down">spot pricing was roughly $800/ton</a>. When interest rates are rising, dropping steel prices is bad news for the corporation.



Yet another reason to avoid buying the stock now is its recent surge. Steel firm shares rose 12% in six months. ArcelorMittal&rsquo;s P/E ratio is 25.11x, worse than approximately 75% of the 459 steel firms. This makes it more pricey than most rivals. This price is far higher than the 10-year average of 5.5x.



To be fair, optimism is justified. ArcelorMittal reported a 153% profit beat in its latest quarterly results. It&rsquo;s also entering India, a fast-growing steel market. ArcelorMittal develops in India&rsquo;s fast-growing steel business. Notably, <a href="https://corporate.arcelormittal.com/media/press-releases/arcelormittal-and-nippon-steel-complete-acquisition/">it bought Essar Steel India</a> Limited alongside Nippon Steel.



Hence, there are reasons to applaud the stock. However, the macroeconomic climate, heavy debt, and recent surge make it a steel stock to sell now.



<h2>United States Steel Corporation (X)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2019/07/steel1600-300x169.jpg" alt="steel stocks: several sheets of steel in a stack. CLF is a steelmaker."><div>Source: Shutterstock</div></div>Despite recovery efforts, US Steel (NYSE:<a href="https://investorplace.com/stock-quotes/x-stock-quote/">X</a>) has had high expenses and debt. US Steel, like other companies with more debt and costs, is more vulnerable to market declines and steel price drops.



From December 2017 to the current report, the company&rsquo;s long-term debt rose from $2.7 billion to $3.9 billion. Meanwhile, steel company estimates remain low. The expected 3- to 5-year revenue <a href="https://www.gurufocus.com/stock/X/summary">growth rate for X is -5.5%</a>. This marks substantial underperformance compared to 82.5% of 80 steel manufacturers.



High interest rates restrict EPS growth. Inflation <a href="https://www.bloomberg.com/news/articles/2024-04-16/powell-signals-high-rates-for-longer-due-to-persistent-inflation">may prolong high interest rates</a>, says Fed chairman Jerome Powell. As the economy suffers, the Fed may defer rate reduction until later this year.



Older U.S. steel mills, particularly EAF-equipped ones, are less efficient and costlier to renovate, making it difficult to compete with newer, more nimbler competitors. Additionally, stopping big projects like Mon Valley Works rehabilitation is concerning as well.



Finally, decreased production costs allow foreign steelmakers to compete with American Steel. China and India&rsquo;s expanding steel production influences global prices, and there&rsquo;s a lot of talk about <a href="https://investorplace.com/2024/04/3-u-s-industries-that-could-be-slammed-by-another-bout-of-china-shock/">&ldquo;China Shock 2.0&rdquo;</a> and how the U.S. has to create strong trade barriers. However, steel tariffs may help U.S. steelmakers but also provoke retaliation and reduce exports&mdash;a tightrope to walk.



X stock is highly valued after a 46% one-year return. Many say its market capitalization and four straight earnings beatings justify its price performance. However, external variables and a heavy debt burden make me think it&rsquo;s time to sell certain X assets.



<h2>Cleveland-Cliffs (CLF)</h2>



<div><img width="300" height="169" src="https://investorplace.com/wp-content/uploads/2020/02/shutterstock_1463050103-min-300x169.jpg" alt="the Cleveland-Cliffs stock) logo displayed on a web browser and magnified by a magnifying glass"><div>Source: Pavel Kapysh / Shutterstock.com</div></div>With the <a href="https://www.clevelandcliffs.com/news/news-releases/detail/600/cleveland-cliffs-proposes-to-acquire-u-s-steel">possible acquisition of U.S. Steel</a>, Cleveland-Cliffs (NYSE:<a href="https://investorplace.com/stock-quotes/clf-stock-quote/">CLF</a>) could have significantly grown its business. Cleveland-Cliffs made a bid to buy U.S. Steel in a big transaction that was initially valued at $7.3 billion but ended up reaching about $9 billion. But the <a href="https://www.reuters.com/markets/commodities/us-steel-explore-strategic-alternatives-company-2023-08-13/">43% premium</a> was not enough to seal the deal.



The market&rsquo;s mistrust of the acquisition&rsquo;s performance caused Cleveland-Cliffs&rsquo; stock price to swing. Investors continued to be apprehensive about Cleveland-Cliffs&rsquo; ability to integrate smoothly in the event of a merger due to volatility. Nippon Steel ultimately prevailed, and because a transaction <a href="https://www.reuters.com/markets/deals/cleveland-cliffs-argued-its-us-steel-bid-was-worth-more-than-nippon-steels-2024-01-24/">would have greatly consolidated</a> the U.S. steel industry, we will never know what type of synergies a potential tie-up between US Steel and CLF could have created.



On a brighter note, in difficult market circumstances, the firm posted mixed full-year and Q4 financial results. Revenue <a href="https://finance.yahoo.com/news/cleveland-cliffs-inc-clf-reports-221456948.html">fell to $22.0 billion</a> from $23.0 billion in the prior year. Cleveland-Cliffs reduced its net debt and created considerable free cash flow, showing strong operational success, especially with a record 16.4 million net tons of steel exports.&#8203;



However, Cleveland-Cliffs <a href="https://www.clevelandcliffs.com/investors/news-events/press-releases/detail/626/cleveland-cliffs-announces-upsizing-and-pricing-of-825#:~:text=(NYSE%3A%20CLF)%20announced%20today,the%20%E2%80%9CSecurities%20Act%E2%80%9D).">upsized and priced $825 million</a> in senior unsecured guaranteed notes and took on more debt. If the economy worsens, high debt levels will strain financial resources; there is already roughly $3 billion in debt on the books, a sharp rise from $2 billion in 2018, making it one of the steel stocks to sell.



On the date of publication, Faizan Farooque did not have (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com&nbsp;<a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/">Publishing Guidelines</a>.
<div>Faizan Farooque is a contributing author for InvestorPlace.com and numerous other financial sites. Faizan has several years of experience in analyzing the stock market and was a former data journalist at S&amp;P Global Market Intelligence. His passion is to help the average investor make more informed decisions regarding their portfolio.</div><h3>More From InvestorPlace</h3>
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The post <a href="https://investorplace.com/2024/04/3-steel-stocks-to-sell-now-on-rising-input-costs-and-interest-rate-fears/">3 Steel Stocks to Sell Now on Rising Input Costs and Interest Rate Fears</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.

3 Steel Stocks to Sell Now on Rising Input Costs and Interest Rate Fears

<a href="https://investorplace.com">InvestorPlace - Stock Market News, Stock Advice &amp; Trading Tips</a>
Steel stocks have been in focus this week as President Joe Biden has shifted focus to the industry. On April 17, the White House announced plans to enact further tariffs on Chinese-imported steel. 



In a move intended to safeguard domestic steel and shipbuilding interests from Chinese competitors, Biden is planning to triple the tariffs levied against steel and aluminum imported from China. He recently traveled to Pittsburgh and spoke at the United Steelworkers headquarters, laying out his plans for spurring growth for U.S. steel producers. Biden also vowed to ensure that Japan&rsquo;s Nippon Steel is <a href="https://apnews.com/article/biden-china-steel-tariffs-union-workers-0399b0450b67086ca86edc43ac45e5e9">not able</a> to acquire United States Steel (NYSE:<a href="https://investorplace.com/stock-quotes/x-stock-quote/">X</a>). 



The White House issued the <a href="https://www.whitehouse.gov/briefing-room/statements-releases/2024/04/17/fact-sheet-biden-harris-administration-announces-new-actions-to-protect-u-s-steel-and-shipbuilding-industry-from-chinas-unfair-practices/">following statement </a>on the necessity of Biden&rsquo;s proposed steel tariffs:




&ldquo;Chinese policies and subsidies for their domestic steel and aluminum industries means high-quality U.S. products are undercut by artificially low-priced Chinese alternatives produced with higher emissions. To the extent consistent with the United States Trade Representative&rsquo;s (USTR) review of Section 301 tariffs and findings of her investigation, President Biden is calling for USTR to consider enhancing the effectiveness of tariffs on Chinese steel and aluminum products by tripling them.&rdquo;




This type of economic measure has the potential to significantly strengthen the U.S. steel and aluminum industry. As Axios reports, it <a href="https://www.axios.com/2024/04/17/biden-triple-tariffs-china-steel-aluminum">won&rsquo;t happen</a> overnight. However, Biden is making clear what he sees as the best course of action to safeguard one of the American industries that has suffered as Chinese competition has intensified. 



As Pennsylvania is a key swing state, it is likely that Biden will prioritize protecting the jobs of its workers. But this focus will likely benefit the entire industry, creating positive momentum for steel stocks. 



<h2>The Best Steel Stocks to Buy</h2>



U.S. Steel: Biden&rsquo;s stance against Nippon Steel&rsquo;s acquisition of this pillar of American industry may have <a href="https://investorplace.com/2024/03/x-stock-alert-why-joe-biden-is-sending-u-s-steel-plummeting-today/">sent shares down</a> for U.S. Steel. But any time there is positive momentum for steel stocks, X will be among the winners. The company has demonstrated impressive growth over the past six months, demonstrating a clear resilience in a volatile market. &ldquo;If the deal falls through based on government meddling,&rdquo; <a href="https://investorplace.com/2024/02/3-top-steel-stocks-providing-portfolio-strength/">speculates</a> InvestorPlace contributor Jeremy Flint, &ldquo;it&rsquo;ll prove US Steel is essential to national stability &ndash; making it a top steel stock to hold for the long run.&rdquo;



Alcoa (NYSE:<a href="https://investorplace.com/stock-quotes/aa-stock-quote/">AA</a>): This aluminum producer will likely have a clear advantage if Biden&rsquo;s tariffs are implemented. Carlos De Albea, an analyst at Morgan Stanley, recently noted that the Wall Street firms expects to see domestic aluminum companies benefit more than their steelmaking peers as their sensitivity to metal prices is higher. If that proves to be true, Alcoa will be in an excellent position to continue growing, after gaining nearly 50% over the past six months. This is likely why AA stock <a href="https://investorplace.com/2024/04/alcoa-aa-stock-pops-as-biden-threatens-to-triple-steel-tariffs/">rose on the news</a> of Biden&rsquo;s proposed tariffs. 



Steel Dynamics (NASDAQ:<a href="https://investorplace.com/stock-quotes/stld-stock-quote/">STLD</a>): Any list of steel stocks to buy should also include this U.S. Steel rival. The company is based in Fort Wayne, Indiana, and shares are up 40% over the past six months. While commodity stocks are sometimes seen as risky, Steel Dynamics has successfully combined industry-leading manufacturing with sustainability, showing everyone what the future of the industry may look like. As Flint <a href="https://investorplace.com/2024/03/april-showers-bring-market-powers-7-stocks-to-snatch-up-this-spring/">reports</a>:




&ldquo;As America&rsquo;s third-largest steel producer, Steel Dynamics distinguishes itself not just through its scale but also via its commitment to sustainable manufacturing. The company&rsquo;s emphasis on&nbsp;<a href="https://www.steeldynamics.com/recycled-metals/">metal recycling</a>&nbsp;not only bolsters its profitability by ensuring high-quality metals remain in circulation within global value chains but also supports wider environmental objectives.&rdquo;




On the date of publication, Samuel O&rsquo;Brient&nbsp;did not hold (either directly or indirectly) any positions in the securities mentioned in this article.&nbsp;The opinions expressed in this article are those of the writer, subject to the&nbsp;InvestorPlace.com <a href="https://investorplace.com/corporate/investorplace-publishing-guidelines/" target="_blank">Publishing Guidelines</a>.
<div>Samuel O&rsquo;Brient is a Reporter for InvestorPlace, where his work focuses primarily on financial markets, global economic trends, and public policy. O&rsquo;Brient writes a weekly column on recent political news that investors should be following.</div><h3>More From InvestorPlace</h3>
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	The post <a href="https://investorplace.com/2024/04/the-3-best-steel-stocks-to-buy-as-biden-talks-tripling-tariffs/">The 3 Best Steel Stocks to Buy as Biden Talks Tripling Tariffs</a> appeared first on <a href="https://investorplace.com">InvestorPlace</a>.