Tag: U.S. Steel

Ancora Holdings is moving forward with its proxy fight to oust U.S. Steel’s leadership and install a new board of directors and Alan Kestenbaum as CEO.

U.S. Steel has increased prices for flat-rolled steel by at least $50 per short ton (st), according to market participants. The Pittsburgh-based steelmaker now seeks a minimum of $850/st for hot-rolled (HR) coil. And it seeks at least $1,050/st for cold-rolled and coated base prices, they said.

Japan’s Prime Minister Shigeru Ishiba said on Monday that former President Joe Biden’s decision to block Nippon Steel’s buy of U.S. Steel was “unjust political interference,” according to a report in Reuters. This comes after another Reuters report on Friday saying that President Trump would not object to Nippon taking a minority stake in the […]

Nippon Steel has agreed to “invest heavily in U.S. Steel as opposed to own it,” President Donald Trump said on Friday during a press conference with Japanese Prime Minister Shigeru Ishiba. U.S. Steel is “a very important company” and was once “the greatest company in the world”. Of potential foreign ownership of the Pittsburgh-based steelmaker, Trump said, “the concept, psychologically, not good."

U.S. Steel has idled its "B" Battery at its Clairton Coke Works near Pittsburgh following a “release of excess pressure” inside a section of the battery on Feb. 5.

The union says the suit is "a frivolous and unsubstantiated attack on our union simply for exercising our First Amendment rights."

Together, Nippon Steel, Nippon Steel North America, and U.S. Steel announced the filing of their opening brief in their litigation to invalidate the government’s decision to block their announced merger. The brief lays out “how President Biden made a predetermined decision for political reasons, not national security, causing CFIUS to engage in a sham review […]

U.S. Steel has increased sheet prices by $50 per short ton (st), according to market participants. The Pittsburgh-based steelmaker has also set a new target price of $800/st for hot-rolled (HR) coil, they said.

U.S. Steel’s losses widened in the fourth quarter on lower steel prices, weaker demand, and startup costs relating to the expansion of its Big River Steel EAF sheet mill in Arkansas. But the Pittsburgh-based steelmaker said it expected results to improve in 2025 as Big River 2 – the project to double capacity at the Osceola, Ark., mill - gains steam.

Nucor Corp.’s chief executive didn’t shy away from discussing the company’s interest in potentially acquiring the electric-arc furnace assets of U.S. Steel on Tuesday. An analyst on an earnings conference call asked about Nucor’s appetite for M&A given its strong cash position – $4.1 billion at the end of 2024. Chair, President, and CEO Leon […]

Ancora has nominated nine board members to U.S. Steel's 12-member board and seeks to install Alan Kestenbaum as CEO to replace David Burritt.

Nippon Steel’s litigation against the US government is set to begin in early February, according to a report by Japan’s Kyodo News Agency. Nippon will file its opening brief on Feb. 3. And both parties will conclude their claims by March 17 in the US Court of Appeals for the District of Columbia Circuit, Kyodo […]

He said a new entity would operate under the U.S. Steel name and would retain its Pittsburgh headquarters.

Cleveland-Cliffs could be teaming up with Nucor to make a play for U.S. Steel, according to an article at CNBC.

The Biden administration has pushed back until June the date for which Nippon Steel must unwind its $14.9-billion dollar deal for Pittsburgh-based U.S. Steel, the companies said on Saturday.

Nippon Steel and U.S. Steel have filed two lawsuits, one against the US government and the other against Cleveland-Cliffs and the United Steelworkers (USW) union's leader.

As one of my university professors once said (and it’s stuck with me for half a century), “Change is the only permanency.” On Friday, President Biden acted to block the acquisition of United States Steel by Nippon Steel Corp. of Japan, without acknowledging the changes that have already occurred in the steel industry, and which are likely to increase. After more than a year of raging debate, it seems that nobody was convinced by arguments. Nippon’s worker-centered concessions, including safeguarding the jobs of U.S. Steel’s unionized workers and committing to more than $2 billion in investments for the aging plants at Gary, Ind., and the Mon Valley complex in Pennsylvania, were not mentioned in the president’s announcement on Friday.

The chief executive of U.S. Steel has come out against President Biden’s decision to block the USS/Nippon Steel deal, calling it “corrupt.”

“Responsible management will continue to invest in those facilities,” McCall stated.

President Joe Biden has blocked Nippon Steel's proposed buy of Pittsburgh-based U.S. Steel, citing national security reasons.

The Biden administration is facing a deadline on the Nippon Steel/U.S. Steel deal by Tuesday, Jan. 7, according to a Dec. 31 article in The Washington Post.

Will Santa bring gifts for the leadership, employees, and shareholders of U.S. Steel and Nippon Steel, and lumps of coal for USW leadership and politicians opposed to the deal?

Amid a challenging pricing and demand environment, and with the ongoing ramp-up of the Big River 2 mill, USS is anticipating a loss for the fourth quarter.

Cracks have formed in what has been presented as the Biden administration’s united front against Nippon Steel’s play for U.S. Steel. A report from the Financial Times said parts of the administration are at odds on the deal.

Nippon Steel addressed a host of objections by the United Steelworkers (USW) related to the Japanese steelmaker’s proposed buy of Pittsburgh-based U.S. Steel.

A newly adjusted anti-dumping duty on imports of oil country tubular goods (OCTG) from Argentina is too low, according to U.S. Steel. This past week, the Department of Commerce released the preliminary results of annual AD duty order reviews on OCTG from both Argentina and Mexico. It is reviewing imports during the one-year period that […]

“I am totally against the once great and powerful U.S. Steel being bought by a foreign company, in this case Nippon Steel of Japan,” Trump said in a post on Truth Social on Monday.

Japanese Prime Minister Shigeru Ishiba has asked that President Biden approve Nippon Steel’s $14.9-billion proposed offer to buy Pittsburgh-based U.S. Steel, according to a report in Reuters.

Nori, a top Nippon Steel official, met on Tuesday with Pennsylvania's governor, to discuss its proposed acquisition of U.S. Steel.

Nippon Steel has affirmed that if its $14.9-billion bid for U.S. Steel proves successful, the Japanese steelmaker will not import overseas-produced slabs to the US.