Market Segment
April 3, 2024
Written by Laura Miller
A prominent US senator has asked the White House to investigate Nippon Steel Corp.’s (NSC) ties to China on national security grounds as the Japanese steelmaker seeks to acquire U.S. Steel.
In a letter to President Joe Biden this week, Senator Sherrod Brown (D-OH) referenced a report also released this week that examines the relationship between Nippon Steel and the Chinese steel industry.
SMU’s latest Flat-Rolled Steel Buyers Survey shows that in a tight US market marked by long lead times, low inventories, and rising prices, foreign products continue to gain the interest of domestic buyers.
Domestic raw steel output fell to a six-month low last week after hitting a multi-year high one week earlier, according to the latest American Iron and Steel Institute (AISI) figures.
The proposed Hyundai-POSCO steel mill in Louisiana has been approved for up to $1.3 billion in bond financing, according to state records and local media reports.
The United Steelworkers (USW) union plans to extend its current labor contract with U.S. Steel and Cleveland-Cliffs by 48-hours on a rolling basis, the union told SMU on Monday.
Nucor said on Monday, Sept. 21, that its consumer spot price (CSP) for hot-rolled (HR) coil will be $1,210 per short ton (st) this week, a $10/st increase from a week earlier.