Demand for Steel Grows as a Result of Oil & Gas Drilling Boom
26 4월 2012 - 9:20PM
Marketwired
Despite posting some disappointing numbers for the first quarter
the Steel Industry remains optimistic for the rest of 2012. The
recent boom in drilling in the oil and gas industry, caused by
rising oil prices, as well as a rejuvenated demand for vehicles,
have been contributing factors for the soaring demand for steel.
"We haven't had this kind of expansion in steel since the 1980s,"
said Eric Burkland, the president of the Ohio Manufacturers'
Association. The Paragon Report examines investing opportunities in
the Steel Industry and provides equity research on United States
Steel Corporation (NYSE: X) and AK Steel Holding Corporation (NYSE:
AKS).
Access to full reports can be found at:
www.ParagonReport.com/X www.ParagonReport.com/AKS
Auto Manufacturers in the U.S. are one of the largest consumers
of steel. According to monthly sales figures and industry
estimates, automobile sales are expected to total 13.8 million cars
and light trucks, and could reach 15 million by 2014. Sales had
previously plunged to 10.9 million in 2009 as a result of the
recession. The surge in oil and gas drilling was the biggest
surprise for the steel industry. New drilling procedures have made
it practical to drill into the dense and deep hydrocarbon-rich
shale beneath the Great Plains, the Gulf Coast, the Rocky Mountain
West and the Mid-Atlantic States. Tapping into these reserves
requires large amounts of steel pipe as they generally lie a mile
or more beneath the surface.
"The need for specialty steel, much of it for oil and natural
gas producers, is high in the United States and around the world,"
said Salvatore J. Miraglia Jr., the president of Timken's steel
group. "We see demand in that market continuing to be healthy for
quite some time."
Paragon Report releases regular market updates on the Steel
Industry so investors can stay ahead of the crowd and make the best
investment decisions to maximize their returns. Take a few minutes
to register with us free at www.ParagonReport.com and get exclusive
access to our numerous stock reports and industry newsletters.
United States Steel Corporation recently announced that the
Board of Directors declared a dividend of five cents per share on
U. S. Steel Common Stock. The dividend is payable June 9, 2012, to
stockholders of record at the close of business May 9, 2012.
AK Steel reported a net loss of $11.8 million, or $0.11 per
diluted share of common stock, for the first quarter of 2012
compared to net income of $8.7 million, or $0.08 per diluted share,
for the first quarter of 2011 and a net loss of $193.9 million, or
$1.76 per share, for the fourth quarter of 2011. The fourth quarter
2011 loss included a non-cash pre-tax pension corridor charge of
$268.1 million, or $1.50 per diluted share.
Paragon Report provides Market Research focused on equities that
offer growth opportunities, value, and strong potential return. We
strive to provide the most up-to-date market activities. We
constantly create research reports and newsletters for our members.
The Paragon Report has not been compensated by any of the
above-mentioned companies. We act as independent research portal
and are aware that all investment entails inherent risks. Please
view the full disclaimer at: www.ParagonReport.com/disclaimer
Add to Digg Bookmark with del.icio.us Add to Newsvine
AK Steel (NYSE:AKS)
과거 데이터 주식 차트
부터 6월(6) 2024 으로 7월(7) 2024
AK Steel (NYSE:AKS)
과거 데이터 주식 차트
부터 7월(7) 2023 으로 7월(7) 2024