Steel Mills

Nippon's Mori meets with Pa. Gov. Shapiro: Report
Written by Ethan Bernard
November 21, 2024
Nippon Steel Vice Chairman and EVP Takahiro Mori met on Tuesday with Pennsylvania Gov. Josh Shapiro, a Democrat, according to a report in Bloomberg.
The article, posted on Tuesday before the meeting, said Mori was going to discuss the ramifications of Nippon’s proposed deal to buy U.S. Steel, as well as its effect on unions. (The United Steelworkers union has been vehemently opposed to the merger.)
The meeting was important, according to the report, because Shapiro is close to President Biden (who is opposed to the deal). The article added that Shapiro hasn’t publicly expressed support or opposition to the deal.
A spokesman for Nippon declined to comment on the meeting with SMU on Thursday.
In a separate article on Wednesday, the Pittsburgh-Gazette reported on a leaked letter from Pennsylvania Senate President Pro Tempore Kim Ward (R-Greensburg) to Gov. Shapiro.
In it, she said, “Your engagement as governor is critical to ensuring the federal government understands the stakes for Pennsylvania. Equally important, the people whose jobs depend on the success of U.S. Steel need to hear from you.”
This comes as we near a decision from the US Committee on Foreign Investment’s (CFIUS) national security review, which will decide on the deal’s fate. Recall that Nippon has said a decision is expected by the end of December on its $14.9-billion offer for Pittsburgh-based U.S. Steel.

Ethan Bernard
Read more from Ethan BernardLatest in Steel Mills

Hot-rolled coil market remains slow, market participants say
Hot rolled spot market participants reported another week of moderate demand and ample supply, with no strong signs that conditions will change next week.

CRU: Blackout knocks out ArcelorMittal mill ‘for months’
Truchas works in Lazaro Cadenas, Michoacan, western Mexico. Repairs may take up to six months.

Nippon Steel posts quarterly loss on cost to buy U.S. Steel
Nippon Steel earnings take hit from buy of U.S. Steel.

Atlas completes Evraz NA deal, renames firm, and hires former USS exec as CEO
Atlas Holdings has completed its acquisition of Evraz North America (Evraz NA) and its subsidiaries.

ArcelorMittal: As tariffs slow global growth, Calvert could be a bright spot
ArcelorMittal expects less demand growth across most of the markets it operates in, including the US, because of President Donald Trump’s tariffs. But the Luxembourg-based steelmaker also thinks it stands to benefit from an increasingly regionalized world thanks to investments like the new EAF at its mill in Calvert, Ala.