Steel Mills
It's Official, USS-POSCO Industries Now USS-UPI LLC
Written by Michael Cowden
June 20, 2021
USS-POSCO Industries has officially changed its name to USS-UPI, LLC.
The West Coast subsidiary of Pittsburgh-based U.S. Steel said the change means its email domain is switching from ussposco.com to ussupi.com.
“This transition period will occur over the next few months,” the company said in a letter to customers on Friday, June 18.
USS-UPI also has a new website: www.ussupi.com.
Based in Pittsburg, Calif., USS-UPI is one of the major flat-rolled steel suppliers on the West Coast. The company converts hot band supplied by U.S. Steel into hot-rolled pickled-and-oiled (P&O), cold-rolled, and hot-dipped-galvanized sheet. It also makes tinplate, which is widely used in the region’s agricultural industry for applications such as canning.
USS-UPI was previously a 50-50 joint venture between U.S. Steel and South Korean steelmaker POSCO, which had in the past provided much of the substrate consumed at USS-UPI.
That arrangement became less tenable following a 2016 trade case that resulted in hefty countervailing duties – 57.04% – on hot-rolled coil from POSCO.
U.S. Steel purchased POSCO’s 50% stake in UPI in a deal that closed on Feb. 29, 2020.
By Michael Cowden, Michael@SteelMarketUpdate.com
Michael Cowden
Read more from Michael CowdenLatest in Steel Mills
Cliffs idles Steelton, Riverdale, and Conshohocken operations
Cliffs has idled facilities in Riverdale, Ill., and Conshohocken and Steelton, Pa.
Radius loss narrows, volumes climb in ‘healthy’ West Coast market
Stronger steel demand in the Western US, rising scrap flows, and improved rolling mill utilization drove sequential gains for Portland, Ore.-based Radius Recycling.
AISI: Raw steel production backs off multi-year high
US raw steel output edged lower last week after hitting a multi-year high in mid-June, according to the American Iron and Steel Institute (AISI).
Private equity firm Atlas Holdings to acquire Evraz North America
Atlas Holdings said it has signed a definitive agreement to acquire Evraz North America (Evraz NA). The Greenwich, Conn.-based private equity firm said it expects the deal for the Chicago-based steelmaker to close in the second quarter of 2025 subject to various closing condition.
Granite City Works must remain open and other terms of the Nippon-USS deal
SEC documents also name Trump specifically as having veto power certain decisions are part of the “Golden Share” provision.