Tag: Nippon Steel

U.S. Steel’s board of directors has approved a nearly $3 billion investment in a new hot strip mill (HSM) at the Edgar Thomson Plant, part of the Mon Valley Works outside Pittsburgh. The project confirms Nippon Steel's commitment to modernize the Mon Valley HSM, a pledge made before and after its acquisition of U.S. Steel. It is part of Nippon's broader $14 billion capital investment plan for the Pittsburgh-based steelmaker's facilities.

The US Department of Commerce has adjusted anti-dumping duties on imports of hot-rolled flat steel products from Japan. The adjustment has lowered duties for one company but raised them for others. Commerce made the adjustments in the final results of an administrative review of the year ended Sept. 30, 2024. The agency set a final weighted-average dumping margin of 13.96% for Nippon Steel companies. This is lower than the company’s previous rate of 29.7%.

U.S. Steel on Wednesday proposed a new, five-year labor contract to the United Steelworkers (USW) union – one that would run from Sept. 1, 2026, to Sept. 1, 2031, but the USW called the offer a "disappointment."

The United Steelworkers (USW) union on Sunday said it remained far apart from U.S. Steel over the terms of a new labor contract. Meanwhile, the deadline for negotiating a new contract inches closer.

U.S. Steel has restarted the No. 14 blast furnace at its Gary Works in northwest Indiana after a $350 million reline.

U.S. Steel reported stronger second-quarter results, with higher sales, a return to profitability, and record operating performance across key assets.

Wheeling-Nippon Steel Inc. announced a series of promotions across the West Virginia-based company.

Volume, which is usually a big positive for buyers in price negotiations, has arguably become a net negative.

U.S. Steel plans to increase prices for seamless oil country tubular goods (OCTG) by $300 per ton.

U.S. Steel delivered a mixed first quarter. Segment performances diverged sharply as winter weather, outage activity, and major capital projects weighed on results.

U.S. Steel has announced a $1.9 billion investment to construct a new direct-reduced iron (DRI) facility at Big River Steel (BRS) Works in Osceola, Ark.

The US Court of International Trade (CIT) has upheld the Commerce Department’s decision to apply adverse facts available to Nippon Steel in the 2018-2019 administrative review of hot-rolled steel from Japan.

U.S. Steel has confirmed the restart of the B blast furnace at its Granite City Works near St. Louis.

U.S. Steel confirmed it is in the process of restarting one of its two Granite City Works blast furnaces. Local media reports suggest iron- and steelmaking will have resumed over weekend.

Japan’s Nippon Steel has received loans totaling 900 billion yen ($5.6 billion) from Japan Bank for International Cooperation (JBIC) and other Japanese lenders to repay the loan for its buy of Pittsburgh-based U.S. Steel.

The United Steelworkers (USW) union swore in Roxanne Brown as its new international president on Sunday.

Ternium SA has completed its buyout of Nippon Steel and Mitsubishi’s shares in Brazilian flat-rolled steelmaker Usinas Siderúrgicas de Minas Gerais SA – Usiminas (Usiminas).

U.S. Steel plans to idle the No. 14 blast furnace at its Gary Works near Chicago for a reline for ~100 days from May to August.

“The premise for the board’s rejection was insufficient value. Yet they provided shareholders with no reasonable, executable alternative strategy that would provide the same certainty of shareholder return,” SDI Co-founder, Chairman, and CEO Mark Millett said.

Nippon Steel hopes to pare down a list of sites by next summer and make a final decision by the end of 2026 for a new U.S. Steel plant in the United States.

President Donald Trump has officially invoked his “golden share” in U.S. Steel, making two related appointments.

Nippon Steel is positioning U.S. Steel as a cornerstone of its global growth strategy, highlighting the US as the most developed and demand-rich market, especially for premium steel products used in the automotive, energy, and infrastructure sectors.

Nippon Steel is making good on the big capex promises it made to secure its purchase of United States Steel Corp. This week, the Japanese company and American steelmaker together unveiled various capital investments they plan to make across U.S. Steel’s footprint.

Latin American steelmaker Ternium SA is increasing its stake in Brazilian flat-rolled steel producer Usiminas.

U.S. Steel has unveiled more details of a multi-year growth plan in partnership with Nippon Steel.

The steelmaker released updated extras to customers on Oct. 15, marking the second adjustment in just six weeks following their early September revision

How can the U.S. government block U.S. Steel’s Granite City rolling mill closure without harming other American steelmakers? Reducing imports should be the first step. Foreign producers continue to aggressively target the U.S. market, especially now as they find themselves displaced by Chinese exports.

The White House confirmed it stepped in to block the halting of steel processing at U.S. Steel’s Granite City Works in Illinois, according to media reports.

This week’s announcement represents $300 million of the $11 billion commitment Nippon made for the government's approval to buy USS.

But, for better or worse, there is not a major political party championing unfettered free markets. While Democrats and Republicans don’t agree on much, both have cheered tariffs on steel. And so if you’re going to handicap any future decision on Granite City’s operations, including its blast furnaces, you’d better factor in politics at least as much as economics.