Steel Mills
CSN to Sell U.S. Operations to SDI?
Written by Sandy Williams
April 29, 2018
A deal may be in the works for Brazilian steelmaker Cia Siderugica Nacional (CSN) to sell its U.S. operations to Steel Dynamics (SDI).
Brazilian media reported that the sale price would be at least $250 million, and probably more, for CSN’s cold rolling and galvanizing facility in Terre Haute, Ind. American Metal Market suggests the value of the operation could be considerably higher based on HRC prices, which have jumped by more than 34 percent since the Section 232 investigation was launched in April 2018.
Acquisition of the facility would benefit SDI’s cold-rolling and coating operations and provide a guaranteed outlet for HRC from the company’s Butler, Ind., and Columbus, Miss., mills. The Terre Haute facility has a galvanized rolling capacity of 350,000 metric tons per year (a small portion of the tons are sold as cold rolled).
Neither company is confirming that negotiations are under way.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
CMC Q4 profits rise on improved market conditions
CMC reported higher net earnings in its fiscal fourth quarter on "better market conditions" across its segments.
AISI: Raw steel production drops to multi-month low
After being historically strong for more than four months, US raw steel production fell for a second week.
U.S. Steel sues Algoma over iron pellet shipments
U.S. Steel is suing Algoma over the Canadian flat-rolled producer's rejection of iron pellet shipments, arguing it has breached its contract.
August US mill shipments slip but still higher than last year
The American Iron and Steel Institute reported a decline in the monthly shipments of US mills from July to August.
TransPod, Algoma, Supreme Steel linkup anchors Canadian steel in high-speed transit build
The three Canadian companies have announced a strategic partnership to support the development of an ultra-high-speed transit line from Edmonton to Calgary.