Debt LevelsNet debt for US Steel increased to $3.56bn, which is more than three times the trailing twelve months EBITDA, due to elevated capital expenditures and a large working capital build.
M&A UncertaintySignificant uncertainty remains regarding the Nippon/US Steel transaction, as former President Trump's stance on foreign ownership is unpredictable.
Steel ProductionThe potential consequence of more steel production could lead to lower steel prices, which is a longer-term negative for other US steel companies.