Tag: U.S. Steel

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).

Cleveland Cliffs executives didn’t mince words when opening its Q4’23 earnings call.

With rising steelmaking capacity and relatively flat demand, industry analysts are predicting lower prices for sheet products this year.

U.S. Steel is to permanently idle battery No. 15 at the Clairton coke plant in its Mon Valley works in Pennsylvania following a series of air pollution incidents and fines.

I’m writing these final thoughts from the JW Marriott in Tampa. And I’m looking forward to seeing some of you reading this in just a few hours at the opening networking reception of the Tampa Steel Conference. Nearly 550 people will be there – a new record for the event. If you’re looking for things […]

The Steel Manufacturers Association (SMA) outlined its praise for the US and EU extension on negotiations towards the proposed Global Arrangement on Sustainable Steel and Aluminum.

A Jan. 24 SEC filing by U.S. Steel Corp. reveals further details about the company’s strategic review process.

U.S. Steel has idled its USS-UPI LLC subsidiary in Pittsburg, Calif., a company spokesperson confirmed. The idling happened in December, they said in an email to SMU.

SMU’s Jan. 24 Community Chat, featuring CRU's Principal Analyst Erik Hedborg, provided viewers with an update on the current state of the global iron ore market.

This earnings season will hit a little different. U.S. Steel has announced that it won’t be hosting an earnings call. While this silence is normal during an acquisition process, it does alter a staple of the earnings landscape.

Worthington Industries recently completed its separation into two distinct companies: Worthington Steel and Worthington Enterprises. SMU sat down this week with Geoff Gilmore, president and CEO of Worthington Steel, to find out how the separation process went, and what’s on the horizon for the Columbus, Ohio-based company.

Both the United Steel Workers (USW) union and a number of politicians oppose the deal. The USW supports Cleveland-Cliffs’ offer. That offer is almost half of what Nippon Steel has proposed and what has been accepted by U.S Steel. I don’t understand the USW opposition to Nippon Steel buying U.S. Steel and the union favoring Cleveland-Cliffs. If Cleveland-Cliffs were to acquire U.S. Steel, it would likely mean the end of a headquarters in Pittsburgh.

Bloomberg has reported that Nippon Steel’s $14.1-billion deal for U.S. Steel might not close until 2025 – well after the Q2/Q3 2024 close date both companies have guided toward. That’s because a national security review of the deal ($14.9 billion if you include the USS debt Nippon Steel would assume) by the Committee on Foreign Investment in the United States (CFIUS) could take longer than initially expected

Nippon Steel said Eiji Hashimoto has been named chairman and CEO, effective April 1.

The United Steelworkers (USW) union is accusing U.S. Steel of labor contract violations as the steelmaker pursues its potential sale to Nippon Steel.

Nippon Steel believes it can successfully complete its planned buy of U.S. Steel, according to a report in Reuters.

All good things, including but not limited to the Holiday Season, must come to an end. The corporate independence of U.S. Steel Corporation looks like it’s coming to an end also, despite objections from some politicians and the United Steelworkers union.

The new year represents an opportunity to capitalize on America’s leadership position in free market principles, steel industry modernization, and global efforts to create a lower carbon future for the steel industry. Steel Manufacturing Association (SMA) members are poised to lead the way.

The International Trade Commission (ITC) held a hearing on Thursday, Jan. 4, to consider arguments for and against the imposition of antidumping and countervailing duties (AD/CVDs) on tin mill products from a handful of countries. Both sides made compelling arguments.

SMU doesn’t do forecasts. We leave that to our colleagues at CRU. But we’re pretty good at surveys, and we’ve got a great group of readers. That’s why we decided to ask you what’s in store for 2024. The results are below, along with some insightful comments in italics.

Wilbur Ross doesn’t believe the proposed sale of U.S. Steel to Japan’s Nippon Steel poses any threat to the economic or national security of the US.

After meeting with Nippon Steel, the United Steelworkers (USW) union remains weary of the company’s proposed acquisition of U.S. Steel.

The end of one year is often both a time for reflection, and for looking ahead. You make sense of the ups and downs from January through December. Then you wipe off the old crystal ball, and try to make out what’s in store for the next 365 days.

Metalformers remain optimistic about business prospects for the first quarter of 2024 despite some concerns about what Nippon Steel’s $14.1-billion deal for U.S. Steel might mean for domestic supply chains.

Political opposition to Nippon Steel Corp.’s (NSC) proposed purchase of U.S. Steel continues to build.