Market Segment
December 18, 2023
Written by Michael Cowden
Japanese steelmaker Nippon Steel Corp. (NSC) will acquire U.S. Steel in an all-cash, $14.9-billion deal, the two companies announced on Monday morning.
The agreement values Pittsburgh-based U.S. Steel at $55 per share, or 40% higher than its closing stock price on Friday, Dec. 15.
Iron ore shipments from US ports on the Great Lakes slipped in September from a year earlier, according to the Lake Carriers Association (LCA).
The Department of Commerce thinks revoking the anti-dumping duty (AD) orders on cut-to-length carbon steel plate from China and Russia would lead to the recurrence of dumping at significant margins.
Algoma Steel Group Inc. expects the first heat from its second electric-arc furnace (EAF) in the coming days, even as it forecasts a quarterly EBITDA loss and a 20% decline in shipments.
Nucor said on Thursday evening it plans to increase plate prices by $60 per short ton (st) as it opens its November order book.
The results of the latest Steel Market Update (SMU) flat-rolled market survey are now available on our website to all premium members.