International Steel Mills
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/US_Steel.png)
EU OKs Nippon buy of USS, hurdles remain in US
Written by Ethan Bernard
May 6, 2024
The European Union has approved Tokyo-based Nippon Steel Corp.’s (NSC) proposed buy of U.S. Steel, a report in Reuters said on Monday.
The Pittsburgh-based steelmaker’s European operations consists of the U.S. Steel Kosice integrated mill in Slovakia. The mill has 8,000 employees and an annual production capacity of 4.5 million short tons of steel, according to the company’s website.
Regarding the deal, the European Commission “concluded that the notified transaction would not raise competition concerns,” according to an article in Barron’s.
In the US, hurdles for the deal remain. As previously reported, the US Department of Justice has requested additional information from both USS and NSC in its antitrust investigation.
Subsequently, U.S. Steel and Nippon said the deal, valued at nearly $15 billion, is expected to close in the second half of this year, which means the closing could slip into the fourth quarter.
There is also an ongoing review by the Committee on Foreign Investment in the United States (CFIUS).
Finally, Cleveland-Cliffs and the United Steelworkers union oppose the deal, as well as President Biden and former President Trump.
When contacted by SMU, an NSC spokesman said the company had no comment at this time.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2024/02/SMU_EB_headshot.png.jpg-150x150.png)
Ethan Bernard
Read more from Ethan BernardLatest in International Steel Mills
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/SSAB.png)
SSAB adjusts output in weak Q3, readies for Q4 rebound
SSAB said lower plate prices in the US were the primary reason for reduced results in the second quarter. With a dismal Q3 outlook, the Swedish steelmaker is adjusting production across its facilities. That includes moving up its annual US mill outage in anticipation of a better Q4. SSAB Americas Revenues in the Americas segment […]
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/worldsteel_logo.png)
Global steel production dipped in June
Global steel output eased 2% in June following May’s 14-month high, according to World Steel Association’s (worldsteel) latest release.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/ArcelorMittal.png)
Union rejects proposal to end strike at ArcelorMittal Mexico
The local mining union has rejected a proposal to end the labor strike at ArcelorMittal Mexico’s Lazaro Cardenas mill and Las Truchas mine in Michoacán, Mexico.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/images/Featured_News_Icons/NLMK.png)
NLMK mill targeted in Ukrainian drone attack
Novolipetsk Steel’s (NLMK) mill in Lipetsk, Russia, was the target of a raid by Ukrainian drones on Sunday, according to a Reuters report.
![](https://www.steelmarketupdate.com/wp-content/uploads/sites/2/2024/06/USS-logo.png)
USS and Nippon clarify position on US trade case participation
U.S. Steel and Nippon Steel explained their position on USS’ participation in US trade cases should their proposed nearly $15-billion merger deal go through. The companies hope to close the deal by the end of the year.