Tag: U.S. Steel

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.

Japan’s Nippon Steel still anticipates closing on its proposed deal to acquire U.S. Steel by the end of 2024.

U.S. Steel said it has produced its first coil at the Big River 2 facility in Osceola., Ark., as the company reported lower profits on-year in the third quarter of 2024.

A strong performance from its logistics segment drove SunCoke Energy’s results higher in the third quarter.

Former President Donald Trump repeated his disapproval of U.S. Steel’s sale to a foreign owner in a campaign speech on Sunday.

Earlier this month, Nippon Steel announced that it is applying for subsidies under the Japanese government’s Green Transformation Promotion Act to expand the company’s electric furnace steelmaking capabilities and to convert from blast furnace to electric furnace operations. As we have said before, transitioning from blast furnace- to electric furnace-based steelmaking is a good thing […]

U.S. Steel aims to increase spot prices for all new orders of flat-rolled steel by at least $30 per short ton (st), according to an internal letter dated Thursday.

ArcelorMittal is set to take full ownership of AM/NS Calvert if Nippon Steel finalizes its pending acquisition of U.S. Steel.

Richard Fruehauf, formerly of U.S. Steel, has been named chief venture officer of robotics and AI firm Carnegie Foundry.

On Thursday, the Department of Commerce announced it would initiate investigations into coated steel imports from ten countries.

A board of arbitration has ruled in favor of U.S Steel vs. the United Steelworkers (USW) union in a dispute regarding Nippon Steel’s more than $14-billion proposed deal for the Pittsburgh-based steelmaker.

U.S. Steel is the first steelmaker in the world qualified to sell its products as “ResponsibleSteel Certified Steel” at its Big River Steel operation in Osceola, Ark.

A transformer caught fire at U.S. Steel’s Midwest Plant in Portage, Ind., on Sunday.

U.S. Steel expects third-quarter adjusted earnings of approximately $300 million, according to figures released on Thursday. The Pittsburgh-based steelmaker said the result was in line with prior guidance and came despite “challenging pricing dynamics.” The company also said the third quarter likely reflected a “bottoming steel price environment.”

The US government’s decision on whether it will block Nippon Steel’s acquisition of U.S. Steel on national security grounds has been pushed until after the November elections.

The White House decision on blocking Nippon Steel’s play for Pittsburgh-based U.S. Steel might be pushed back until after the upcoming presidential election, according to a report in the Washington Post.

U.S. Steel has rolled out “ZMAG,” a flat-rolled coated steel product intended to endure harsh weather conditions.

Sheet prices didn’t roar back after Labor Day. But steel market news sure came out of the gate strong (or maybe chaotically is the better way to put it). First, the nearly $15-billion proposed sale of U.S. Steel to Nippon Steel exploded into the news. And when I say exploded, I mean that all sides seem to be escalating things now.

President Joe Biden could block the $15-billion sale of U.S. Steel to Japan's Nippon Steel by citing national security concerns That’s according to reporting in the Washington Post and the Financial Times that was later picked up by the New York Times as well as in wire services.

U.S. Steel could slash thousands of jobs, shift away from integrated steelmaking, and move its headquarters out of Pittsburgh if its acquisition by Nippon Steel isn’t completed, the company’s top executive said. “We want elected leaders and other key decision makers to recognize the benefits of the deal was well as the unavoidable consequences if the deal fails,” company President and CEO David Burritt said in a statement on Wednesday.

Vice President Kamala Harris said she opposed U.S. Steel’s acquisition by Nippon Steel in a speech on Labor Day in Pittsburgh.

Nippon Steel and other Japanese steelmakers are lobbying for the Japanese government to limit imports of Chinese steel, according to a report in Reuters.