• Skip to main content

    Canada

    February 9, 2025

    Trump says Nippon will 'invest heavily' in USS rather than buy it

    Written by Michael Cowden

    Nippon Steel has agreed to “invest heavily in U.S. Steel as opposed to own it,” President Donald Trump said on Friday during a press conference with Japanese Prime Minister Shigeru Ishiba.

    U.S. Steel is “a very important company” and was once “the greatest company in the world”. Of potential foreign ownership of the Pittsburgh-based steelmaker, Trump said, “the concept, psychologically, not good.”

    Michael Cowden

    Michael Cowden is editor-in-chief for Steel Market Update. Cowden has covered the steel industry since 2007. He specializes in flat-rolled steel but has also reported on steel long products, steel pipe and tube, and aluminum. Before joining SMU, Cowden held reporting jobs at Fastmarkets AMM in Chicago, the Associated Press in Pittsburgh, and the Cambodia Daily in Phnom Penh. He has also worked as a copy editor and in marketing at the University of Chicago Press. Cowden has a BA in English from the University of Chicago and an MSJ journalism from Northwestern University’s Medill School of Journalism. Contact him at michael@steelmarketupdate.com or 724-759-7872.

    Read more from Michael Cowden

    Latest in Canada

    USW president says trade conflict hurting workers in US, Canada

    United Steelworkers (USW) International President Roxanne Brown urged US and Canadian trade representatives to reach an agreement that puts working families first. Her words come as trade talks between the two nations remain at an impasse, and escalating tensions have led to new tariffs on both sides. “This conflict is hurting jobs. It’s hurting facilities. It’s hurting communities. And it’s creating uncertainty for workers and families in both countries,” Brown said at a press event on Tuesday.

    Galvanized buyers report severe supply strain

    Service centers and manufacturers on the Sept. 15 HARDI Sheet Metal and Air Handling Council call described a tight, seller-driven market. Lead times are long, deliveries are late, inventories are thin, imports are down, and demand is strong, causing a shortage of galvanized material. SMU regularly joins the council’s meetings to discuss the galvanized sheet market. Participants — members of Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) — are wholesalers, service centers, distributors, and manufacturers who buy or sell galvanized steel.