The Top 10 US Steel Producers
Of the top 10 US steel producers, S. Steel is the biggest, shipping 3.6 million tons to outside customers in Q3 of 2019. It was a close second, shipping 3.9 million tons in Q3 of 2018. Nucor and Steel Dynamics are both smaller companies that use mini-mills to add value to their products. These three companies are part of a broader cohort of American and global steelmakers that have been struggling for years. The 2008 and 2014 financial crises have hurt the industry and many have ceased operations.
U.S. Steel is one of the top steel producers in the world, and its roots date back to the Industrial Revolution. Founded in 1850 to mine iron ore, Cleveland-Cliffs later expanded into the production of steel and stamped finished products. In 2020, the company acquired ArcelorMittal’s U.S. operations, which has been a boon for investors and helped it compete against Nucor on its own turf.
U.S. Steel had a poor quarter last week, and the stock dropped from $31 to $22. Jim Cramer’s investment research uncovered that the underperformance wasn’t the steel itself. AK Steel has been down about four times as much as Nucor, which is up slightly this year and up 43 percent in 2017. With such a low growth outlook, investors should consider buying stocks that offer growth potential.
In the United States, domestic steel manufacturing companies offer standard sizes and shapes of steel stock, which can be utilized in fabrication processes. They can also provide different alloys of steel, which differ in their chemical composition and mechanical properties. This difference can be beneficial when the environment is challenging. And while a diversified portfolio of steel stocks is the best way to diversify an investment, high-quality steel is the foundation for long-term growth.
The largest US steel producer, Nucor, has the highest number of “buy” or higher recommendations among its peers. Moreover, Nucor is the only US steel producer with a high percentage of “strong buy” and other “buy” recommendations. It has a price target of $3.4 and is up 11.5% this year. The majority of investors recommend Nucor’s stock. But the question is whether it can maintain that performance over the next few years.
Although it is not possible to list all of the US steel producers, it is important to keep in mind that some are small and others are large. Some of the largest companies in the United States make steel for a variety of industries. AK Steel was one of the first companies to join the list in 2000. It has a total of $8.8 billion in assets. The other two companies on the list are JFE Holdings, Inc. and Baosteel.
Another South Korean company on the list is POSCO. This company is the largest of the top ten US steel producers. With assets of $47 billion, it employs over 130,000 people worldwide. JFE Holdings, Inc. is the largest private steel firm in China and employs around 1,600 people. The firm has headquarters in Shanghai, China, and India. A few of the US companies are part of a larger group.
In the USA, Nucor is the only US steel company among the top 20 global steelmakers. The decline in the US’s ranking is in line with the country’s position in the global market. Analysts have generally favored Nucor, based on its relatively stable profits and a strong balance sheet. However, analysts have also praised Steel Dynamics, which has become one of the best all-season US steel stocks.
Another steel company on the list is POSCO, with approximately $47 billion in assets and two main locations in Pohang and Gwangyang. The company was established in 1968 and has operations in the United States, India, and China. The company is the largest privately owned Chinese steel producer, with Shen Wenrong as Chairman and Liu Jian as its president. Listed below is a list of its top 10 US subsidiaries.