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Cliffs sees close of Stelco buy, bottom to steel tags, and Mexico out of USMCA
Cleveland-Cliffs expects its acquisition of Canada’s Stelco to close later this year, which will help the the Cleveland-based steelmaker as a bottom to steel tags nears.
Cleveland-Cliffs expects its acquisition of Canada’s Stelco to close later this year, which will help the the Cleveland-based steelmaker as a bottom to steel tags nears.
Cleveland-Cliffs’ earnings tumbled in the second quarter as the company cited weak demand and pricing.
Cleveland-Cliffs has been pursuing M&A opportunities for some time now and thinks it has found a solid partner with aligned interests in Stelco. The companies announced on Monday that Cliffs would acquire the integrated Canadian steelmaker. That same day, Cliffs held a conference call with analysts to discuss the acquisition. Lourenco Goncalves, Cliffs’ chairman, president, […]
Cleveland-Cliffs Inc. has agreed to purchase Canada’s Stelco Holdings Inc. in a deal valued at $2.5 billion (CA$3.4 billion).
Two veteran investment bankers joined SMU's Community Chat on Wednesday, July 10, to talk consolidation and M&A in the metals industry.
The latest SMU Community Chat webinar reply is now available on our website to all members. After logging in at steelmarketupdate.com, visit the community tab and look under the “previous webinars” section of the dropdown menu. All past Community Chat webinars are also available under that selection. If you need help accessing the webinar replay, or if your company […]
Flat-rolled steel prices have been largely falling since the beginning of the year. Even after a slight bump in early April when mills tried to halt the downtrend, the decrease resumed.
Veteran investment bankers Vince Pappalardo and Andy Pappas will be the featured guests on the next SMU Community Chat on Wednesday, July 10, at 11 am ET (10 am CT). The live webinar is free to attend for all who register. A recording will be available only to SMU members. You can register here.
Worthington Steel’s earnings slipped in its fiscal fourth quarter while sales ticked up.
Flack Global Metals (FGM) is set to take majority ownership of Pacesetter Steel Service.
Nucor Corp. is adding another commercial door manufacturer to its growing portfolio of downstream companies. Charlotte, N.C.-based Nucor announced on Monday that it has agreed to purchase Rytec Corp. for $565 million in cash. Rytec produces high-speed, high-performance commercial doors at its two Wisconsin manufacturing facilities. The company’s rolling doors are used in warehouses, manufacturing […]
U.S. Steel and Nippon Steel Corp. (NSC) said they have received all regulatory approvals outside of the US for the proposed sale of USS to the Japanese steelmaker.
Cleveland-Cliffs is potentially eyeing a buy of NLMK USA’s Midwest assets, according to a report in Bloomberg.
What's the tea in the steel industry this week? Here's the latest SMU gossip column! Just kidding... kind of. Yes, some of the comments we receive in our weekly flat-rolled market steel buyers' survey are honestly too much to put into print. Some make us laugh. Some make us cringe. Some are cryptic. Most are serious. We appreciate them all. Below are some highlights from our survey results this week. Some of the comments that we can share with you are also included, in italics, in the buyers' own words, with minimal editing on our part.
Stelco reported a positive start to 2024 in its first-quarter earnings report on Thursday. And with steady demand and a stable market, the Canadian flat-rolled steelmaker is optimistic for the remainder of the year.
If successful in its overtures to Anglo American, BHP will create the world’s largest diversified miner by a country mile. The rationale for this merger is scale and in mining, size matters.
Cleveland-Cliffs Inc. continued to lose money in the first quarter, with the steelmaker blaming the loss in part on the idling of its tinplate facility in Weirton, W.Va.
Russel Metals Inc.’s planned purchase of seven service centers in western Canada from Samuel, Son & Co. has been delayed.
Worthington Steel is taking a pause on M&A activity as it focuses on progressing its electrical steel expansions in Mexico and Canada.
Worthington Steel began trading publicly on New York Stock Exchange on Dec. 1. In one sense, this marked the “finish line” of the company’s separation process. As the company gets ready to release its first earnings report as a standalone company, president and CEO Geoff Gilmore reflected on the journey, and what lies ahead.
Olympic Steel said it's open to future acquisitions in all three of its business segments.
At SMU, our goal is not to tell you what to think but to keep the conversation going. We asked you in our survey this week what you were seeing when it comes to steel prices, demand, imports, and wildcards. In your own words, with minimal editing, here’s what some of you in the SMU community shared with us this week.
Alan Kestenbaum, the CEO of Stelco, said the company is actively evaluating ways to grow the company, including both organic and inorganic opportunities.
ArcelorMittal indicated that a sale of U.S. Steel to Nippon Steel could lead to it taking full control of AM/NS Calvert, its joint venture sheet mill in Alabama. "Typically, in such situations, when there is a selling partner, they sell it to the other partner in the joint venture, right. So I could imagine such a situation would develop,” Mittal said.
Reliance Steel & Aluminum Co. announced on Feb. 2 that it has acquired Tifton, Ga.-based Cooksey Iron & Metal Co.
Cleveland Cliffs executives didn’t mince words when opening its Q4’23 earnings call.
Worthington Industries recently completed its separation into two distinct companies: Worthington Steel and Worthington Enterprises. SMU sat down this week with Geoff Gilmore, president and CEO of Worthington Steel, to find out how the separation process went, and what’s on the horizon for the Columbus, Ohio-based company.
SMU’s Community Chat on Wednesday, Dec. 13, featured Bank of America SVP Ira Kreft.
Bank of America SVP Ira Kreft will be the featured speaker on SMU’s Community Chat webinar on Wednesday, Dec. 13, at 11 am ET. You can register here.
Bank of America SVP Ira Kreft will be the featured speaker on SMU’s Community Chat webinar on Wednesday, Dec. 13, at 11 am ET. We’ll discuss M&A in the steel and metals industries. Is there still room for consolidation in flat-rolled steel?