Tag: Nippon Steel

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 […]

Nippon Steel has reaffirmed the value of its deal for U.S. Steel a day after President Biden issued a statement opposing the sale.

President Biden said on Thursday that it’s “vital” for U.S. Steel to remain an American steel company.

AM/NS Calvert CEO Chuck Greene has announced his retirement as CEO, effective March 15.

ArcelorMittal is targeting a minimum base price for hot-rolled (HR) coil of $825 per ton. The Luxembourg-based steelmaker said the new floor price was effective immediately in a letter to its commercial team dated Friday, March 8.

At the request of Nippon Steel Corp. (NSC), the United Steelworkers (USW) union met with the Japanese steelmaker in person today to discuss Nippon's proposed acquisition of U.S. Steel.

The failure of the trade remedy actions against imported steel tin mill products (TMPs) continues to resonate. Cleveland-Cliffs and the United Steel Workers Union (USW) lost the case at the International Trade Commission (ITC) last month. A few days ago, the ITC released its final report explaining the decision against imposing antidumping and countervailing duties […]

What are some “Black Swans” to watch out for? With the war in Ukraine entering its third year, your mind might understandably move to conflicts overseas. Here is one closer to home to consider: US trade relations with Mexico taking a turn for the worse. I mention that because the Office of the United States Trade Representative (USTR) dropped a (virtual) bombshell earlier this month.

The United Steelworkers union expressed a lack of trust in assurances from Japan’s Nippon Steel Corp. (NSC) regarding its proposed buy of U.S. Steel.

Nippon Steel Corp.’s (NSC) operations in China are a potential security concern of the Biden administration, according to a Bloomberg report citing anonymous sources close to the matter.

SunCoke Energy Inc. announced the retirement of its current CEO and the appointment of a new leader on Friday.

Alan Kestenbaum, the CEO of Stelco, said the company is actively evaluating ways to grow the company, including both organic and inorganic opportunities.

Leadership of the United Steelworkers (USW) and U.S. Steel met on Friday to discuss the steelmaker’s pending sale to Nippon Steel Corp. (NSC).

Bull Moose Tube Co. (BMT) is now offering jumbo hollow structural sections (HSS) in the US market.

What’s something going on in the market that no one is talking about? That’s a question on our survey, and was also posed to many who graced the stage at our Tampa Steel Conference. Perhaps another way to phrase that is “not talking about publicly” or connecting the dots of steel market chatter to find a uniting central issue. I thought one respondent to our survey really summed up the current moment: “Right now it is all politics.”

ArcelorMittal indicated that a sale of U.S. Steel to Nippon Steel could lead to it taking full control of AM/NS Calvert, its joint venture sheet mill in Alabama. "Typically, in such situations, when there is a selling partner, they sell it to the other partner in the joint venture, right. So I could imagine such a situation would develop,” Mittal said.

More supply coming online and an unchanging demand environment – two key themes for 2024 – could soon bring the steel sheet storm to a market near you.

ArcelorMittal swung to a loss in the fourth quarter largely because of costs associated with a deadly coal mining disaster last year in Kazakhstan. The Luxembourg-based steelmaker sold its Kazakhstan operations in December and no longer owns and operates coal mines as a result of the move, according to comments released along with earnings data on Thursday.

Timna Tanners, managing director of equity research at Wolfe Research, will be the featured speaker on our next SMU Community Chat. The chat will be on Wednesday, Feb. 7, at 11 a.m. ET. You can join the ~600 people who have already registered here.

While President Biden may have its back, the United Steelworkers (USW) union remains concerned about the proposed sale of U.S. Steel to Nippon Steel Corp. (NSC).

Timna Tanners, managing director of equity research at Wolfe Research, will be the featured speaker on our next SMU Community Chat on Feb. 7.

Three of Japan’s major banks have agreed to lend Nippon Steel a combined $16 billion for its $14.1-billion planned acquisition of United States Steel, provided the acquisition is completed, the Japanese steelmaker said.

I thought Nippon Steel’s $14.1-billion deal for U.S. Steel might become a political football in this year’s presidential election. Now there is little doubt that it will after Trump told reporters in Washington, D.C., earlier this week that he would “absolutely” block the transaction – and that he would do so “instantaneously.”

U.S. Steel swung to a loss in Q4'23 in its first quarterly earnings since the announced sale to Japan's Nippon Steel.

If reelected in the November presidential election, Donald Trump said he would block the sale of U.S. Steel to Japan’s Nippon Steel Corp. (NSC).