Steel Mills

Stelco Considering Bid for U.S. Steel: Bloomberg
Written by Ethan Bernard
September 21, 2023
Canadian steelmaker Stelco Holdings Inc. is in the mix to purchase U.S. Steel, according to an article in Bloomberg on Thursday, which cited people familiar with the matter.
The article said Stelco was seeking to buy the entire company as “it looks to increase its portfolio of steelmaking assets and boost its share of the market for supplying metal to the automotive sector.”
Stelco, Canada’s biggest steelmaker, “is in talks with a potential partner on its bid, the people said, asking not to be identified because the details are private,” according to Bloomberg.
The article’s sources noted that no final decision has been made and that Stelco could opt against making a bid.
U.S. Steel declined to comment for this article. Stelco did not respond to a request for comment.
Several companies are reported to be in the hunt for the Pittsburgh-based steelmaker.
Cleveland-Cliffs publicly made a bid for U.S. Steel, one that U.S. Steel rejected. ArcelorMittal has also been said to be interested in the company.
Guppy Swallowing a Whale?
U.S. Steel is much larger than Stelco, which operates a sole blast furnace at its Lake Erie Works in Nanticoke, Ontario, according to SMU’s blast furnace status table.
In contrast, U.S. Steel has six active blast furnaces. That includes two at its Mon Valley Works in Pittsburgh and four at its Gary Works in northwest Indiana. The company also has a temporarily idled blast furnace at its Granite City Works near St. Louis.
U.S. Steel’s operations in addition include Big River Steel, an EAF mill in Arkansas considered to be among the crown jewels of the company. Other assets include energy tubular mills, iron ore mining and pellet operations in Minnesota, and its UPI sheet processing facility in Pittsburg, Calif.
In Europe, meanwhile, the company owns a large steel works in Kosice, Slovakia. It sports three blast furnaces and annual raw steel capacity of five million tons.

Ethan Bernard
Read more from Ethan BernardLatest in Steel Mills

Millett sees tariffs, CORE case benefiting SDI
Steel Dynamics' top exec thinks Trump’s tariff policies, as well as the results from the recent CORE case, will prove advantageous to the Fort Wayne, Ind.-based steelmaker and aluminum company.

USW digs in on opposition to USS-Nippon deal
“We remain deeply concerned about the national and economic security implications of the subject transaction,” the union stated in the letter dated April 21.

SDI’s Q1 earnings slump on-year, but up sequentially
SDI earnings slip in first quarter year over year, but are up sequentially.

POSCO inks MoU with Hyundai on Louisiana EAF mill
POSCO has signed a Memorandum of Understanding (MoU) with Hyundai Motor Group that includes an equity investment in Hyundai’s previously announced EAF mill set to be built in Louisiana.

CRU: Tata Steel looks to shed 1,600 jobs in the Netherlands
The company said, “The challenging demand conditions in Europe driven by geopolitical developments, trade and supply chain disruptions and escalating energy costs have affected the operating costs and financial performance."