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

Nucor increases plate prices by $40/ton
Nucor aims to increase prices for steel plate by $40 per short ton (st) with the opening of its May order book. The Charlotte, N.C.-based steelmaker said the increase was effective with new orders received on Friday, March 28, in a letter to customers dated the same day. The company said the price hike applied […]

US CRC price gains ground over imports
US cold-rolled (CR) coil prices increased again this week, while offshore prices declined.

SMU Steel Demand Index momentum slows
Steel Market Update is pleased to share this Premium content with Executive members. Contact info@steelmarketupdate.com for information on how to upgrade to a Premium-level subscription. Growth in SMU’s Steel Demand Index eased in March after reaching a four-year high in late February. Despite a moderate gain, the index remains in expansion territory. The Steel Demand […]

Leibowitz: Impact of tariffs on US manufacturers
On February 10, President Trump announced a massive restructuring of tariffs on steel and aluminum. Those changes took effect on March 12, and they will impact US manufacturing. What will the impact be? Bye-bye exclusions Perhaps the most important change, which hits imports from all countries, is the loss of a product exclusion process to […]

SMU flat-rolled market survey results now available
SMU’s latest steel buyers market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]