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$X United States Steel gets its Mojo back.

NYSE:X   UNITED STATES STEEL CORP
P/E ratio a ridiculous 2.4
Short interest a very high 33.20% may help fuel a rally.
China trade a big issue for X, a resolution could ignite a massive recovery.

U.S. Steel (X +16.6%) surges to its highest level in three months following Q3 results that were not as bad as feared and the company offers a fairly optimistic take in its earnings conference call.
Margins remain under significant pressure but "signs of life are emerging," as the GM labor deal removes a gap, lead times have extended, flat-rolled order rates have materially improved and scrap prices are expected to improve - boosting the company's confidence that the market will improve from here.
CEO Dave Burritt says U.S. Steel will scale back investments in repairs and upgrades to its existing mills and the construction of a new sheet steel rolling line at its Mon Valley Works to focus on the company's "number one strategic priority" of acquiring the remaining 50.1% stake in Big River Steel in Arkansas.
U.S. Steel expects to spend $950M on mill improvements and equipment in 2020, down from $1.5B analysts had forecast.
"We're in a difficult market environment," Burritt said. "We will remain flexible to manage the pace of our other strategic investments."
Source Seeking Alpha


Company profile
United States Steel Corp. engages in the manufacturing and selling of steel products. It operates through the following business segments: Flat-Rolled Products, U.S. Steel Europe, and Tubular Products. The Flat-Rolled Products segment includes managing steel plants and production facilities that manufactures steel slabs, rounds, strip mill plates, sheets, tin mill, iron ore, and coke. The U.S. Steel Europe segment offers producing and marketsing strip mill plates, spiral welded pipe, heating radiators, refractory ceramic materials. The Tubular Products segment involves in manufacturing and trading seamless and electric resistance welded steel casing and tubing. line pipe, and mechanical tubing. The company was founded in 1901 by Andrew Carnegie, John Pierpont Morgan, Charles Michael Schwab and Elbert Henry Gary and is headquartered in Pittsburgh, PA.
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