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.
U.S. Steel said it would continue to roll slabs at its Granite City Works mill near St. Louis, reversing a previous decision to end production at the plant in November. “U.S. Steel will continue to supply slabs to Granite City. As we shared earlier, our goal was to maintain flexibility, and we are pleased to have found a solution to continue to slab consumption at Granite City,” a company spokesperson said in a statement to SMU.
Another chapter of the Great U.S. Steel Buyout of the 2020s melodrama has closed, with all involved parties terminating the litigation disputes between them.
ArcelorMittal expects less demand growth across most of the markets it operates in, including the US, because of President Donald Trump’s tariffs. But the Luxembourg-based steelmaker also thinks it stands to benefit from an increasingly regionalized world thanks to investments like the new EAF at its mill in Calvert, Ala.
U.S. Steel (USS) appointed three new, independent US members to its board of directors, the company announced.
U.S. Steel and Nippon Steel are not done settling scores with those who opposed their historic, $14.9-billion partnership.
We have a special addition to the agenda of this year's SMU Steel Summit that I’m excited to announce today. U.S. Steel President and CEO David Burritt will speak on the opening day of the Summit about the partnership between the iconic Pittsburgh-based steelmaker and Nippon Steel.
Now that it has acquired U.S. Steel, Nippon Steel is planning a significant expansion of its US operations, including the construction of a new mill and more than doubling its steel output.
SEC documents also name Trump specifically as having veto power certain decisions are part of the “Golden Share” provision.
The document makes clear that Nippon Steel, through Nippon Steel America, will have “100% ownership of [the] common stock.” So if you want to own an interest in U.S. Steel’s future success, you will need to buy shares in Nippon Steel on the Nikkei stock exchange. It certainly will not be in your domestic S&P 500 ETF.
Now that the USS/Nippon deal has been completed, what's next?
Nippon Steel and USS have finalized their "partnership" in a deal first announced in December 2023.