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
BREAKING NEWS: Trump says Section 232 tariff on steel, and aluminum to double to 50% at Pennsylvania rally celebrating Nippon-USS deal
At a rally celebrating a “planned partnership” between U.S. Steel and Nippon Steel, President Trump announced higher tariffs on steel and aluminum imports into the United States, and revealed few more details on Nippon’s investment in USS’ operations.
CRU: Trump hails a partnership of Nippon with USS
In a social media post, President Donald Trump said a planned partnership between Nippon Steel and U.S. Steel will add $14 billion to the US economy and ensure USS remains headquartered in Pittsburgh.
Trump approves $14B Nippon Steel-USS ‘partnership’
President Donald Trump on Friday gave his blessing to a $14-billion "partnership" between Nippon Steel and U.S. Steel.
Cliffs opens June spot order book at $910/ton HR
Cleveland-Cliffs opened its June order book for spot material at $910 per short ton (st).
Op-Ed: Ternium CEO Máximo Vedoya wants a fair future forged in steel
After recently receiving an industry honor on behalf of Ternium, I had the opportunity to reflect and share my vision on the state and future of our industry.