Cleveland-Cliffs’ Lourenco Goncalves thinks trade measures announced by the US government on Tuesday against China were just the opening salvo in a series of trade actions. Case in point: The Biden administration targeted China’s “unfair” trade policies with additional tariffs on an array of Chinese-made goods - including steel, aluminum, and EVs.
A vote on Friday by the International Trade Commission (ITC) ensures that antidumping duties on certain steel sheet imports from Japan will continue for the mid-term.
Three vocal Republican senators are demanding that President Joe Biden block the sale of U.S. Steel to Japan’s Nippon Steel.
Tariffs on unfairly traded steel and other products help to stabilize America’s most important industries, safeguard tens of thousands of jobs, and protect national security. My union, the United Steelworkers (USW), never seeks these remedies lightly. And presidents, Republican and Democrat alike, implement them only after diligent investigations documenting the harm that foreign adversaries intentionally inflict upon our country with dumping, overproduction and other kinds of trade cheating. I don’t think Lewis Leibowitz considered these points while criticizing tariffs in his excessively pro-free-trade column, “Where is the voice of the consumer?” on May 5.
The EU has approved Tokyo-based Nippon Steel Corp.’s (NSC’s) proposed buy of U.S. Steel, a report in Reuters on Monday said.
The sale of U.S. Steel Corp. to Nippon Steel Corp. has been delayed by the US Department of Justice’s antitrust investigation. The Justice Department, which is conducting an antitrust review of the merger, has requested additional information from both USS and NSC. The companies originally anticipated closing the sale in the second or third quarter […]
U.S. Steel posted slightly lower Q1’24 earnings as stronger earnings from its sheet mills were partially offset by a weaker performance from it tubular division. All told, the Pittsburgh-based steelmaker reported Q1’24 earnings of $171 million. That's down 14.1% from $199 million in Q1’23 on sales that fell 6.9% to $4.16 billion in the same comparison.
ArcelorMittal posted a narrower Q1’24 profit compared to Q1’23 but remained optimistic about steel's long-term demand prospects.
SunCoke's earnings soared in the first quarter, with the company citing strong performances in its cokemaking and logistics segments.
Cleveland-Cliffs Inc. would still be interested in acquiring some or all of U.S. Steel’s assets, if the proposed deal by Nippon Steel stumbles, according to an article in Bloomberg.
Cleveland-Cliffs Inc. continued to lose money in the first quarter, with the steelmaker blaming the loss in part on the idling of its tinplate facility in Weirton, W.Va.
ArcelorMittal plans to build a new electrical steel manufacturing facility near its AM/NS Calvert joint-venture mill in Alabama.
Last week gave us a glimpse into the effect of the 2024 election campaign on trade policy. In a major announcement, the Biden administration pressed the US Trade Representative (USTR) to triple certain Section 301 tariffs on steel and aluminum. It’s a lot to unpack. You can find the full text of the announcement here. […]
After receiving a hefty federal tax credit, ArcelorMittal plans to produce non-grain-oriented electrical steel (NOES) in Alabama. ArcelorMittal Calvert LLC received a tax credit of $280.5 million for the project, according to a Department of Energy (DOE) announcement on Friday. The Qualifying Advanced Energy Project Credit (48C) tax credit is meant to accelerate clean energy […]
The Biden administration on Wednesday announced measures to support the domestic steel industry.
Steel industry veteran Mark Bush announced he will be joining AM/NS Calvert as area manager steelmaking.
U.S. Steel Corp.’s impending sale to Japan’s Nippon Steel Corp. (NSC) has cleared one hurdle: USS stockholders voted overwhelmingly in favor of the nearly $15 billion merger.
For something that wasn’t on the agenda in Washington this week, the proposed Nippon Steel deal for U.S. Steel is getting a lot of attention.
The United Steelworkers (USW) union is calling out Nippon Steel for already prioritizing its Japanese operations at the expense of American workers despite forging ahead with its proposed plan to purchase U.S. Steel.
President Biden said on Wednesday he would stand by his commitment to US workers regarding the proposed sale of U.S. Steel to Japan’s Nippon Steel.
Japanese Prime Minister Fumio Kishida will be in Washington this week where one topic under discussion with President Biden will be U.S. Steel's proposed sale to Nippon Steel.
A prominent US senator has asked the White House to investigate Nippon Steel Corp.’s (NSC) ties to China as the Japanese steelmaker seeks to acquire U.S. Steel.
AM/NS Calvert has announced Chris Richards as interim CEO during the company's transition period.
U.S. Steel Corp. will hold a special shareholder meeting on Friday, April 12, to vote on whether to approve or deny Japan’s Nippon Steel Corp.’s (NSC) nearly $15-billion acquisition of the Pittsburgh-based steelmaker.
Cleveland-Cliffs’ Lourenco Goncalves said the company is still interested in acquiring U.S. Steel, though no bid is currently on the table, according to a local report.
I can’t really define “Bidenomics” because it is so filled with contradictions. It seems to aim to increase manufacturing output in the United States. But not all increases are created equal.
There’s that concept from Adam Smith we all learn about in our Econ 101 classes: The Invisible Hand. A simple Google search will provide a refresh, but if memory serves I would classify it as something akin to “the market is magic” or “the market’s gonna market.” Today, obviously, we live in a mixed environment. There are a lot of hands out there, and they’re not too difficult to see. In this election year of 2024, one of the most visible hands out there probably belongs to the federal government.
As uncertainty swirls around Nippon Steel Corp.’s (NSC) proposed buy of U.S. Steel, the Japanese steelmaker continues to make assurances that it has the best interests in mind for running the iconic Pittsburgh-based steelmaker.
U.S. Steel expects higher earnings in the first quarter of this year vs. the previous quarter.
Happy St. Patrick’s Day. “To govern is to choose.” Those words, reportedly first uttered by the late French Premier Pierre Mendes-France in the 1950s, resonate vividly in our time. It means that choices have consequences and that priorities must be set based on goals. Interested parties, in and out of government, raise their voices in […]