Euro Steel Demand On Rise? (X)
United States Steel Corporation (NYSE: X) is already signaling that things are better. You will have to decide whether it buckled to pressure from workers on your own or not, but the report is that things are already getting better…
United States Steel Corporation (NYSE: X) is already signaling that things are better. You will have to decide whether it buckled to pressure from workers on your own or not, but the report is that things are already getting better for the company in its European operations. The company’s Slovakia operations have been on a four-day work week this month, but now the steel giant (which is said to be Slovakia’s largest corporate employer) is going to restart a five-day work week starting in February. Management has apparently agreed trade unions on this matter which has been in effect in January. The move is expected to take the outfit in Slovakia back to full output, again supposedly to meet customer demand, although it has the caveat that it will monitor economic developments and that it may adjust plans based upon the developments (if any).
US Steel shares are up 2.9% at $29.80 on the day after shares took off after the FOMC comments.
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Jon Ogg has been a financial news analyst since 1997. Mr. Ogg set up one of the first audio squawk box services for traders called TTN, which he sold in 2003. He has previously worked as a licensed broker to some of the top U.S. and E.U. financial institutions, managed capital, and has raised private capital at the seed and venture stage. He has lived in Copenhagen, Denmark, as well as New York and Chicago, and he now lives in Houston, Texas. Jon received a Bachelor of Business Administration in finance at University of Houston in 1992. www.247wallst.com.
