
Cliffs, Nucor could buy U.S. Steel: Report
Cleveland-Cliffs could be teaming up with Nucor to make a play for U.S. Steel, according to an article at CNBC.
Cleveland-Cliffs could be teaming up with Nucor to make a play for U.S. Steel, according to an article at CNBC.
The Biden administration has pushed back until June the date for which Nippon Steel must unwind its $14.9-billion dollar deal for Pittsburgh-based U.S. Steel, the companies said on Saturday.
The steelmaker is completing construction of two such production facilities in Alabama and Indiana.
Hyundai Motor Group is reportedly considering building a sheet steel mill just south of Baton Rouge, La.
Nippon Steel and U.S. Steel have filed two lawsuits, one against the US government and the other against Cleveland-Cliffs and the United Steelworkers (USW) union's leader.
Slow construction activity and low steel prices weighed down profits for Commercial Metals Company.
As one of my university professors once said (and it’s stuck with me for half a century), “Change is the only permanency.” On Friday, President Biden acted to block the acquisition of United States Steel by Nippon Steel Corp. of Japan, without acknowledging the changes that have already occurred in the steel industry, and which are likely to increase. After more than a year of raging debate, it seems that nobody was convinced by arguments. Nippon’s worker-centered concessions, including safeguarding the jobs of U.S. Steel’s unionized workers and committing to more than $2 billion in investments for the aging plants at Gary, Ind., and the Mon Valley complex in Pennsylvania, were not mentioned in the president’s announcement on Friday.
The chief executive of U.S. Steel has come out against President Biden’s decision to block the USS/Nippon Steel deal, calling it “corrupt.”
“We continue to make significant progress in our strategic transformation to become one of North America's leading low-carbon steel producers, setting the stage for an exciting 2025,” CEO Michael Garcia said.
“Responsible management will continue to invest in those facilities,” McCall stated.
President Joe Biden has blocked Nippon Steel's proposed buy of Pittsburgh-based U.S. Steel, citing national security reasons.
The Biden administration is facing a deadline on the Nippon Steel/U.S. Steel deal by Tuesday, Jan. 7, according to a Dec. 31 article in The Washington Post.
Domestic steel production has modestly recovered since bottoming out in October but is significantly less than levels recorded earlier in the year.
Nucor said on Monday, Dec. 30, that it was keeping its spot base price for hot-rolled sheet this week at $750 per short ton (st).
Nippon Steel's purchase of U.S. Steel could lead to lower steel output domestically, and that presents “a national security risk," the Washington Post reported.
Will Santa bring gifts for the leadership, employees, and shareholders of U.S. Steel and Nippon Steel, and lumps of coal for USW leadership and politicians opposed to the deal?
A trustee has formally taken over AHMSA and begun the liquidation process of the bankrupt Mexican steelmaker.
Nippon Steel and a Japanese trading company have entered an agreement to buy a 49% interest in a Champion Iron ore project in Canada.
Amid a challenging pricing and demand environment, and with the ongoing ramp-up of the Big River 2 mill, USS is anticipating a loss for the fourth quarter.
Nucor cited decreased volumes and prices in it steel mills segment as the key driver of its lower guidance for the fourth quarter.
The Fort Wayne, Ind.-based steelmaker and metal recycler expects Q4'24 earnings guidance in the range of $1.26 to $1.30 per diluted share.
The steelmaker has kept its weekly consumer spot price for hot-rolled steel sheet unchanged since Nov. 12.
Nippon Steel addressed a host of objections by the United Steelworkers (USW) related to the Japanese steelmaker’s proposed buy of Pittsburgh-based U.S. Steel.
Since sharply falling in September and October, weekly production has marginally trended higher for the past two months, but remains significantly low compared to levels recorded earlier this year
Domestic steel shipments were down month over month and on-year in October.
A trustee will lead AHMSA through the liquidation stage of its bankruptcy.
After a career in steel spanning four decades, Chuck Schmitt, head of SSAB Americas, will retire next year.
“I am totally against the once great and powerful U.S. Steel being bought by a foreign company, in this case Nippon Steel of Japan,” Trump said in a post on Truth Social on Monday.
Weekly raw steel production has hovered in this territory for the last two months, now at the sixth lowest rate of the year.
For the fourth week in a row, Nucor will keep its published spot price for hot-rolled (HR) coil unchanged.