Russia's Severstal said it would sell two U.S. steel plants for $2.3 billion, withdrawing from the U.S. market at a time of rising tension between Russia and the West and turning its focus to its domestic business.Severstal will sell its Columbus unit in Mississippi and Dearborn unit in Michigan to Steel Dynamics and AK Steel Corp respectively, a sale that may allow the Russian company pay an extra dividend and reduce debt.Shares in Steel Dynamics, which outbid United States Steel Corp for the plant with a $1.63 billion offer, rose 8 percent to a three-and-a-half year high.AK Steel's stock initially rose 4 percent to a two-year high, but later gave up all gains to trade down 4 percent, suggesting investors were unhappy with the $700 million paid for a plant that has weighed on Severstal's North American results.
Steel Dynamics, Inc. is a steel producer and metals recycler in the United States. Shares of STLD traded higher by 7.4% or $1.375/share to $19.96. In the past year, the shares have traded as low as $15.05 and as high as $19.74. On average, 2592970 shares of STLD exchange hands on a given day and today's volume is recorded at 9991890.
United States Steel Corporation (U. S. Steel) is an integrated steel producer of flat-rolled and tubular products with production ope. Shares of X fell by 1.5% or $-0.41/share to $26.97. In the past year, the shares have traded as low as $16.86 and as high as $31.15. On average, 6015230 shares of X exchange hands on a given day and today's volume is recorded at 5296966.
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