Steel Mills
CSN to Sell U.S. Operations to SDI?
Written by Sandy Williams
April 29, 2018
A deal may be in the works for Brazilian steelmaker Cia Siderugica Nacional (CSN) to sell its U.S. operations to Steel Dynamics (SDI).
Brazilian media reported that the sale price would be at least $250 million, and probably more, for CSN’s cold rolling and galvanizing facility in Terre Haute, Ind. American Metal Market suggests the value of the operation could be considerably higher based on HRC prices, which have jumped by more than 34 percent since the Section 232 investigation was launched in April 2018.
Acquisition of the facility would benefit SDI’s cold-rolling and coating operations and provide a guaranteed outlet for HRC from the company’s Butler, Ind., and Columbus, Miss., mills. The Terre Haute facility has a galvanized rolling capacity of 350,000 metric tons per year (a small portion of the tons are sold as cold rolled).
Neither company is confirming that negotiations are under way.
Sandy Williams
Read more from Sandy WilliamsLatest in Steel Mills
Ternium pushes forward with growth projects despite slump in earnings and Mexican market
Ternium S.A. Fourth quarter ended Dec.31 2024 2023 Change Net sales $3,876 $4,931 -21.4% Net income (loss) $333 $554 -39.9% Per diluted share $1.43 $2.11 -32.2% Full year ended Dec.31 Net sales $17,649 $17,610 0.2% Net income (loss) $174 $986 -82.4% Per diluted share $(0.27) $3.44 -108% (in millions of dollars except per share) While […]
Kestenbaum, Ancora state their case in proxy fight for U.S. Steel
Ancora Holdings is moving forward with its proxy fight to oust U.S. Steel’s leadership and install a new board of directors and Alan Kestenbaum as CEO.
BlueScope shelves midstream facility but still upbeat on US
BlueScope Steel is pulling back on its expansion plans in the US for now but remains optimistic about the North American market.
Japanese PM cites ‘unjust political interference’ in Nippon/USS deal: Report
Japan’s Prime Minister Shigeru Ishiba said on Monday that former President Joe Biden’s decision to block Nippon Steel’s buy of U.S. Steel was “unjust political interference,” according to a report in Reuters. This comes after another Reuters report on Friday saying that President Trump would not object to Nippon taking a minority stake in the […]
Trump says Nippon will ‘invest heavily’ in USS rather than buy it
Nippon Steel has agreed to “invest heavily in U.S. Steel as opposed to own it,” President Donald Trump said on Friday during a press conference with Japanese Prime Minister Shigeru Ishiba. U.S. Steel is “a very important company” and was once “the greatest company in the world”. Of potential foreign ownership of the Pittsburgh-based steelmaker, Trump said, “the concept, psychologically, not good."