Steel Products

ArcelorMittal May Be in Mix to Buy U.S. Steel: Report
Written by Ethan Bernard
August 16, 2023
ArcelorMittal is considering throwing its hat into the ring as a potential suitor for U.S. Steel, according to an article in Reuters on Wednesday.
Reuters reported three people familiar with the matter said the Luxembourg-based steelmaker is discussing a possible offer with its investment bankers, though no certainty exists they will press ahead.
A bid from ArcelorMittal would mark the third known offer after one from Cleveland-Cliffs on Sunday—which U.S. Steel rejected—and another from Esmark on Monday.
The article said the sources requested anonymity because the deliberations remain confidential.
When asked for comment, a spokesperson from U.S. Steel referred SMU to a statement released on Sunday: “U. S. Steel does not intend to make any further public comment regarding the review of strategic alternatives until it has been completed or the Company determines that a disclosure is required by law or otherwise deemed appropriate.”
A spokesperson from ArcelorMittal did not return a request for comment by time of publication.

Ethan Bernard
Read more from Ethan BernardLatest in Steel Products

S232 lifts EU HR price over US, Asian HR still well behind
Domestic hot-rolled coil prices were flat this week after dropping for four straight weeks. Most offshore markets bucked the trend and gained ground.

SMU Steel Demand Index dips into contraction
SMU’s Steel Demand Index has moved into contraction, according to late April indicators. The slowdown comes in response to growing tariff uncertainty after the index reached a four-year high in late February.

Nucor selects Fives Group for new galv line at CSI
Nucor Corp. has tapped Fives Group as its partner in designing and manufacturing the new continuous galvanizing line being added at its California Steel Industries (CSI) joint venture in Fontana, Calif.

AISI: Raw steel production levels off near six-month high
The volume of raw steel produced by US mills remained relatively flat last week, maintaining the rebound seen one week prior, according to the American Iron and Steel Institute (AISI). Previously at the second-highest rate of the year, production continues to hold at one the strongest levels recorded over the last six months.

Nucor keeps HRC price unchanged
Nucor has kept its weekly hot-rolled (HR) coil price flat this week, after a marginal cut the previous week.