The ArcelorMittal Nippon Steel India (AM/NS India) joint venture (JV) aims to have 24 Mt/y of crude steel capacity by 2029, making the Hazira works in Gujarat the planet’s largest single-site integrated steel complex, says ArcelorMittal chairman Lakshmi Mittal. A first-phase expansion to 15 Mt/y of crude steel capacity is on schedule to be finished […]
The International Trade Commission (ITC) held a hearing on Thursday, Jan. 4, to consider arguments for and against the imposition of antidumping and countervailing duties (AD/CVDs) on tin mill products from a handful of countries. Both sides made compelling arguments.
I was asked to do an interview for a cable news channel in Ohio about Nippon Steel’s planned acquisition of U.S. Steel for more than $14 billion.
Nippon Steel will acquire U.S. Steel in a deal valued at $14.9 billion, or $55 per share, the two companies announced on Monday morning. The Japanese steelmaker will keep U.S. Steel's iconic logo and its Pittsburgh headquarters, the companies said.
As 2023 draws to a close, I wanted to look back on some of the key events and themes of the year. But I’m going to hold off on that idea because we were – as of Sunday afternoon - still waiting on news about arguably the biggest event of the year, the potential sale of U.S. Steel.
The 2024 Tampa Steel Conference is coming up soon after the kickoff of 2024. One of the premier steel conferences in the US, it will be a great complement to our record-breaking SMU Steel Summit this past August.
SMU’s Community Chat on Wednesday, Dec. 13, featured Bank of America SVP Ira Kreft.
U.S. Steel has received multiple bids valuing the company at more than $40 per share, CNBC reported on Wednesday.
We have seen a wave of service center transactions announced since the beginning of the month.
A group of organizations and stakeholders introduced a set of Steel Standards Principles at the COP28 UN Climate Change Conference.
The 2024 Tampa Steel Conference is less than two months away. It is one of the premier domestic steel conferences and a great compliment to our record-breaking SMU Steel Summit this past August.
The Canadian government has given ArcelorMittal-linked Baffinland Iron Mines permission to dispatch up to 6 million metric tons per year from its Mary River mine in Nunavut territory, higher than the 4.2 million metric tons per year previously permitted. The approval from northern affairs minister Dan Vandal allows Baffinland to make the extra shipments if […]
There has been almost an assumption that US mills would get the $950-1,000 per ton ($47.50-50 per cwt) they were seeking on HR base and $1,150-2,000 per ton ($57.50-60 per cwt) for cold-rolled and coated base. Recall that Cliffs initially announced an increase and said it was seeking $1,000 per minimum for hot-rolled coil. Nucor […]
We’re just 12 weeks from Tampa Steel Conference 2024, one of the premier North American steel community events.
The historically significant Sparrows Points steel mill site in Baltimore is set to live another life as a wind turbine factory under the name “Sparrows Point Steel.”
There seems to be a consensus that US sheet prices have nowhere to go but up in the short term, in part because offshore material ordered now won’t arrive until late March or even April.
ArcelorMittal’s earnings declined in the third quarter of 2023 both sequentially and on-year.
You could make a case that Nov. 1 was April Fool’s Day for steel – or at least for the widespread rumor that Cliffs would announce a $10-billion deal for U.S. Steel on that date. I’m not going to endorse any precise date or price tag. But I’d be surprised if a deal – or […]
It’s time to register for the Tampa Steel Conference 2024, easily one of the premiere North American steel events. It’s a can't-miss steel industry conference, especially following the record-breaking attendance at SMU’s Steel Summit 2023 this past August.
ArcelorMittal joins U.S. Steel and Cleveland-Cliffs, pushing sheet prices higher, according to an internal commercial memo on Oct. 31.
I wrote on Sunday that it could be a busy week for steel. It has been.
Canadian steelmaker ArcelorMittal Dofasco could be impacted by a strike on the St. Lawrence Seaway, a company spokeswoman said.
The St. Lawrence Seaway is shut down after members of Canada’s Unifor union went on strike against the St. Lawrence Seaway Management Corp. (SLSMC) this past weekend.
Sheet prices rose for a fourth consecutive week following a second wave of price hikes announced by domestic mills.
On the company’s third-quarter earnings call with analysts on Tuesday, Oct. 24, Cleveland-Cliffs executives were careful not to disclose anything about their talks with U.S. Steel on a potential acquisition.
ArcelorMittal and Stelco joined last week’s move by domestic mills to push sheet prices higher.
This week could be a big one for steel, or at least for the steel rumor mill. For starters, there is renewed speculation that an announcement about the U.S. Steel sales process could be in the works. The rumor mill is also churning fast when it comes to the duration of the UAW strike and […]
ArcelorMittal said it expects to produce less steel than previously forecast in Brazil. Gerdau has hinted at potential layoffs as imports surge. The Brazil Steel Institute is asking the government to raise import levies to 25% from the existing 9.6%. Meanwhile, Mexico has applied levies to some steel imports.
We’ve been busier than usual lately covering two major events (in addition to our pricing and data services) – the potential sale of U.S. Steel and the United Auto Workers (UAW) union strike. Let’s review some possible developments in each. U.S. Steel Sale – Back in the Headlines We learned last week that Stelco had […]
Luxembourg-headquartered ArcelorMittal has placed the contract for a reversible 6-high cold rolling mill to produce high-grade, non-oriented silicon steel strip (NGO) for use in electric motors. The unit will be installed at the group’s Mardyck plant near Dunkirk in northeastern France where it is adding a 200,000 t/y rolling mill to produce electrical steels for electric vehicles […]