SMU Managing Editor Michael Cowden shares his Final Thoughts for the week on what happens to steel if the United Auto Workers (UAW) launch a series of “stand up” strikes at midnight tonight against Ford, General Motors, and Stellantis?
Richard Fruehauf, U.S. Steel's chief of strategy and sustainability officer, spoke at Reuter's Industry Transition 2023 conference on Tuesday, Sept. 12.
US Senator JD Vance (R., Ohio) said U.S. Steel must not be bought by a foreign bidder, according to an op-ed he published on Sept. 5 in the Washington Post.
Some of you may remember when the year “2000” seemed like the distant future.
We’re roughly a week removed from the 2023 Steel Summit and some of the discussions, both on stage and the the sidelines of the event, remain of critical importance to many in the industry.
U.S. Steel’s ‘strategic alternatives’ process is continuing. This week the Pittsburgh-based steelmaker confirmed to shareholders that it has entered into nondisclosure agreements (NDAs) and has begun due diligence on a potential sale.
I headed back to the Atlanta airport after Steel Summit in 2022 hoping to catch up with a few colleagues and contacts only to learn that Cleveland-Cliffs had just announced a price hike. So, I set everything aside, opened up my laptop, and filed a short article about the $75-per-ton ($3.75-per-cwt) price increase from a […]
Three prominent steel analysts proposed their outlooks for next year in the Steel Price Forecast: Boom or Bust in 2024? panel at Steel Summit 2023 in Atlanta.
I learned a lot at Steel Summit this year. More than I can do justice to in one column. Below are four things that have stayed with me after the conference closed on Wednesday afternoon. Another, as I highlighted earlier this week, was electricity – who gets it, and which energy sources we use. 1. […]
Cleveland-Cliffs has laid out a path forward for its potential purchase of U.S. Steel.
Flack Global Metals’ Daniel Doderer was the recipient of the 2023 SMU NexGen Leadership Award.
Esmark has withdrawn its bid for U.S. Steel.
At every Steel Summit, a few themes seem to emerge that I didn’t anticipate. In 2021, I remember the theme being that scrap would be the next precious metal. (And also that Cleveland-Cliffs planned to expand in to the scrap market.) This year, I expected that there would be a lot of discussion about decarbonization. What I didn’t entirely expect was that we’d be talking so much about electricity and power generation.
A wide-ranging discussion on the SMU Steel Summit 'Domestic Steel Panel: Investing for the Future' saw executives from leading steel companies debate the likelihood of passing on a surcharge to consumers for products with lower CO2 content.
Barry Zekelman, executive chairman and CEO of Zekelman Industries, joined SMU managing editor Michael Cowden in a fireside chat to close out the 2013 Steel Summit’s opening day.
I’m excited to see pretty much the entire steel industry this week in Atlanta. I’m looking forward to the networking and to learning from our great lineup of speakers. I also what not draw your attention to some highlights from our latest steel market survey. (Full results are here.) Some of these topics will be discussed along the sidelines as well as up on the stage.
The United Steelworkers (USW) union is standing firm in its backing of Cleveland-Cliffs’ bid for U.S. Steel.
U.S. Steel has provided some clarity for the United Steelworkers (USW) union regarding the union's rights as the steelmaker considers multiple offers to buy the company.
ArcelorMittal is considering throwing its hat into the ring as a potential suitor for U.S. Steel, according to an article in Reuters on Wednesday.
U.S. Steel dropped a bombshell last week when it announced that it is up for sale. While a company buyout would be profitable for any buyer, there could be regulatory hurdles, according to industry analysts.
I wrote on Sunday about U.S. Steel being for sale and Cleveland-Cliffs announcing that it was the among bidders for the iconic Pittsburgh-based steelmaker. I have heard some interesting theories on who the other bidders might be. Foreign mills, domestic mills, private equity - even Elon Musk, which I think is when things started to really jump the shark.
Esmark Inc. announced on Monday a voluntary public cash and exchange offer for all issued and outstanding shares in U.S. Steel of $35 per share.
U.S. Steel has an upcoming mill outage planned for routine maintenance at its Big River Steel mill in Osceola, Ark.
The spat between U.S. Steel and Cleveland-Cliffs over a proposed sale of the Pittsburgh-based steelmaker continued into Sunday evening. U.S. Steel confirmed that it had received an unsolicited offer from its Cleveland-based competitor. It alleged that Cliffs had “refused to engage” in the customary processes for assessing valuation in a press release received by SMU at 7:01 pm ET on Aug. 13.
I planned to write this column about some of the big themes we’ll be discussing at Steel Summit. That plan changed when U.S. Steel announced on Sunday afternoon that it was conducting a formal review of a sale of all or part of the company after receiving multiple unsolicited offers. It changed yet again when Cleveland-Cliffs said its offer for U.S. Steel had been rejected.
U.S. Steel dropped a bombshell on Sunday, announcing that it started a formal process to review multiple unsolicited offers for the company. Cleveland-Cliffs followed with an explosive announcement of its own just hours later: that it had offered to buy U.S. Steel and that the board of the Pittsburgh-based steelmaker had rejected its offer as "unreasonable."
U.S. Steel has announced a collaboration with Google Cloud to build applications using Google Cloud’s generative artificial intelligence (gen AI) technology.
Steel shipments in the US rose year over year in June but decreased sequentially, according to the latest figures from the American Iron and Steel Institute (AISI).
US steel imports look to have fallen significantly during the month of July, based off license data from the US Department of Commerce collected through July 31.
An article published on July 30 said that U.S. Steel appeared to be getting out of the tinplate business. That was incorrect. U.S. Steel remains in the tinplate business. It continues to process orders from existing customers and to accept orders from new customers.