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Comparing Steel Companies’ 4Q17 Performance

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Part 4
Comparing Steel Companies’ 4Q17 Performance PART 4 OF 7

How U.S. Steel’s 4Q17 Average Selling Prices Compare with AKS

4Q17 average selling prices

ASPs (average selling prices) are a key metric that steel investors watch closely. In this part of our series, we’ll look at steel companies’ 4Q17 ASPs.

How U.S. Steel’s 4Q17 Average Selling Prices Compare with AKS

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Comparative analysis

  • Steel Dynamics’ (STLD) ASP rose from $680 per ton in 4Q16 to $761 per ton in 4Q17. However, its 4Q17 ASP was lower than the sequential quarter.
  • AK Steel (AKS) reported an average realized flat-rolled steel price of $1,024 per ton in 4Q17, compared to $1,021 per ton in 3Q17 and $987 per ton in 4Q16. The company’s ASP tends to be less volatile than some of the other steel companies. Notably, AK Steel sells the majority of its steel on a contract basis, and the automotive sector accounts for roughly two-thirds of its shipments.
  • U.S. Steel Corporation’s (X) Flat Rolled segment reported an ASP of $717 per ton in 4Q17, compared to $728 per ton in 3Q17 and $692 per ton in 4Q16. In Europe, U.S. Steel Corporation’s ASP in dollar terms fell from $639 per ton in 3Q17 to $634 per ton in 4Q17.
  • Nucor (NUE) reported ASPs of $778 per ton in 4Q17. The company reported ASP of $781 per ton in 3Q17 and $680 per ton in 4Q16.
  • ArcelorMittal (MT) reported an ASP of $709 per metric ton in 4Q17, compared to $690 per metric ton in 3Q17 and $589 per metric ton in 4Q16. All of ArcelorMittal’s segments reported a sequential increase in their 4Q17 ASPs, and its 4Q17 ASP was the highest since 4Q14.

ASPs tend to impact steel companies’ earnings, too. In the next part of this series, we’ll compare steel companies’ 4Q17 profitability.

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