I learned a lot at Steel Summit this year. More than I can do justice to in one column. Below are four things that have stayed with me after the conference closed on Wednesday afternoon. Another, as I highlighted earlier this week, was electricity – who gets it, and which energy sources we use. 1. […]
Cleveland-Cliffs has laid out a path forward for its potential purchase of U.S. Steel.
Esmark has withdrawn its bid for U.S. Steel.
At every Steel Summit, a few themes seem to emerge that I didn’t anticipate. In 2021, I remember the theme being that scrap would be the next precious metal. (And also that Cleveland-Cliffs planned to expand in to the scrap market.) This year, I expected that there would be a lot of discussion about decarbonization. What I didn’t entirely expect was that we’d be talking so much about electricity and power generation.
A wide-ranging discussion on the SMU Steel Summit 'Domestic Steel Panel: Investing for the Future' saw executives from leading steel companies debate the likelihood of passing on a surcharge to consumers for products with lower CO2 content.
I’m excited to see pretty much the entire steel industry this week in Atlanta. I’m looking forward to the networking and to learning from our great lineup of speakers. I also what not draw your attention to some highlights from our latest steel market survey. (Full results are here.) Some of these topics will be discussed along the sidelines as well as up on the stage.
The United Steelworkers (USW) union is standing firm in its backing of Cleveland-Cliffs’ bid for U.S. Steel.
I am happy to announce that there are officially now more than 1,400 people attending SMU Steel Summit next week in Atlanta. That’s a new record for us, and I thank all of you for making it possible. I am also happy to say that Barry Zekelman, executive chairman and CEO of Zekelman Industries, will be joining us for the first fireside chat of Steel Summit on Monday, Aug. 21, at 3:40 pm ET.
The US Department of Commerce has published its preliminary findings in the antidumping (AD) trade case investigating tin mill products from China and Canada.
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.
U.S. Steel dropped a bombshell last week when it announced that it is up for sale. While a company buyout would be profitable for any buyer, there could be regulatory hurdles, according to industry analysts.
I wrote on Sunday about U.S. Steel being for sale and Cleveland-Cliffs announcing that it was the among bidders for the iconic Pittsburgh-based steelmaker. I have heard some interesting theories on who the other bidders might be. Foreign mills, domestic mills, private equity - even Elon Musk, which I think is when things started to really jump the shark.
Esmark Inc. announced on Monday a voluntary public cash and exchange offer for all issued and outstanding shares in U.S. Steel of $35 per share.
US plate producers were successful in their most recent effort to have the suspension agreement on cut-to-length plate imports from Russia removed and replaced with antidumping duties.
The spat between U.S. Steel and Cleveland-Cliffs over a proposed sale of the Pittsburgh-based steelmaker continued into Sunday evening. U.S. Steel confirmed that it had received an unsolicited offer from its Cleveland-based competitor. It alleged that Cliffs had “refused to engage” in the customary processes for assessing valuation in a press release received by SMU at 7:01 pm ET on Aug. 13.
I planned to write this column about some of the big themes we’ll be discussing at Steel Summit. That plan changed when U.S. Steel announced on Sunday afternoon that it was conducting a formal review of a sale of all or part of the company after receiving multiple unsolicited offers. It changed yet again when Cleveland-Cliffs said its offer for U.S. Steel had been rejected.
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel prices, demand levels, sheet prices abroad, inventory, and what people are talking about in the market.
This is a tough time to be in the forecasting business, especially when it comes to steel. You might have a battle-tested model based on the latest macroeconomic data, prices, inventories, and lead times. The catch: Whatever a forecast might showing now could be overshadowed by events next month. Namely, labor negotiations between the United Auto Workers (UAW) union and automakers General Motors, Ford, and Stellantis.
An unusual clash of powerful forces is in full swing over tin mill products. An antidumping petition was filed against eight countries in January of this year, while an anti-subsidy petition was filed against imports of tin mill products from China at the same time.
An unusual clash of powerful forces is in full swing over tin mill products. This flat-rolled steel product is used to make “tin cans” that hold a huge array of food products and other metal containers sold throughout the world. Tin mill products are generally made from cold-rolled steel that is coated with tin or […]
For starters, thanks to Barry Zekelman, chairman and CEO of Zekelman Industries, for taking time for a Community Chat on Wednesday. Zekelman was, as always, sharp on steel. He also caught my attention and some of yours when he said he was interested in buying a steel mill.
For starters, thanks to Barry Zekelman, chairman and CEO of Zekelman Industries, for taking time for a Community Chat on Wednesday. Zekelman was, as always, sharp on steel. He also caught my attention and some of yours when he said he was interested in buying a steel mill. “I’ve dreamed of owning a steel mill […]
The US Department of Commerce this week ruled that critical circumstances exist in part in the trade case investigating illegal subsidies on tin mill products from China, meaning duties may be applied retroactively.
The US Department of Commerce this week ruled that critical circumstances exist in part in the trade case investigating illegal subsidies on tin mill products from China, meaning duties may be applied retroactively. Recall that Cleveland-Cliffs and the United Steelworkers (USW) union in January filed a trade case seeking countervailing duties for tin- and chromium-coated […]
Barry Zekelman took over his father’s steel company at a young age, and subsequently turned it into an empire. Ahead of SMU’s Steel Summit 2023, Zekelman joined our Community Chat series to talk about goals for his business, what’s happening in the market, and the uniqueness of the steel industry. The owner of the largest […]
A stable market and steady lead times have led to decent demand, but companies are still keeping a close eye on where the market is headed, according HARDI members.
Cleveland-Cliffs swung to a profit in the second quarter after losing money in the first.
We weren’t supposed to see hot-rolled coil prices dip below $800 per ton ($40 per cwt) anytime soon.
We weren’t supposed to see hot-rolled coil prices dip below $800 per ton ($40 per cwt) anytime soon. Or at least that seemed to be the consensus in mid-June after mills rolled out a round of $50-per-ton price hikes, with a second round rumored to be in the works. That second round of price hikes […]
A stable market and steady lead times have led to decent demand, but companies are still keeping a close eye on where the market is headed, according to members of the Heating, Air-Conditioning & Refrigeration Distributors International (HARDI) speaking on the July 25 meeting of its Sheet Metal/Air Handling Council. During June’s meeting, 36% of […]