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.
President Trump has approved the sale of U.S. Steel to Nippon Steel, according to an executive order signed on Friday, June 13. Both the Pittsburgh-based steelmaker and the Japanese steelmaker cheered the development.
A Nippon executive has hit back regarding the deal for USS following President Trump's talk of a "golden share" on Thursday.
President Trump says the US government will hold a 51% stake in U.S. Steel after the Nippon deal.
There has been little word from U.S. Steel, Nippon Steel, or the White House since President Trump endorsed the companies’ “partnership” on social media and celebrated it at the May 30 rally outside Pittsburgh.
Briefing on the stay motion will be completed by June 9. If a stay pending appeal is granted, it will likely remain in effect until the Court of Appeals issues a decision, which could be months in the future. The case is almost certain to be appealed to the Supreme Court.
At a rally celebrating a “planned partnership” between U.S. Steel and Nippon Steel, President Trump announced higher tariffs on steel and aluminum imports into the United States, and revealed few more details on Nippon’s investment in USS’ operations.
A short tour of key dates in the Nippon/USS deal, and what the future might hold.
In a social media post, President Donald Trump said a planned partnership between Nippon Steel and U.S. Steel will add $14 billion to the US economy and ensure USS remains headquartered in Pittsburgh.
I sort of expected big news last Friday and over the long, Memorial Day weekend. Because that's become more the norm than the exception for steel this year. Sure enough, Trump posted on Truth Social on Friday afternoon that he had given his blessing to a “partnership” between Nippon Steel and U.S. Steel. And then over the weekend we had market moving new on tariffs, this time involving the EU.
The US government could acquire a stake in U.S. Steel as part of Nippon Steel’s $14-billion deal for the Pittsburgh-based steelmaker, according to various media reports. The Trump administration sees Washington, D.C., acquiring a “golden share” as part of the deal, according to an article in Kyodo News on Tuesday. This would give the US […]