Will United States Steel Corporation Benefit From Rising Steel Prices?
Domestic steel markets have been strong lately, which is a nice respite after a long downturn. All of the major players in the industry should benefit, but United States Steel Corporation (NYSE: X) is facing some self-inflicted headwinds that mean it's not likely to participate in the upturn to the same degree as some peers. Here's what you need to know.
At the end of the 2007 to 2009 recession, the steel industry started to hit the skids. It was a painful downturn driven at first by reduced domestic demand. It got worse when foreign imports of low-priced steel products started to flood into the market, at what some claim are unfair prices. To give you an idea of how bad it's been, U.S. Steel has lost money in seven of the last eight years.
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Source: Fool.com