Nippon Steel will acquire U.S. Steel in a deal valued at $14.9 billion, or $55 per share, the two companies announced on Monday morning. The Japanese steelmaker will keep U.S. Steel's iconic logo and its Pittsburgh headquarters, the companies said.
Over many years—even centuries—the wisdom and utility of tariffs as an instrument of government policy in peacetime have been debated. That incessant debate continues, and is likely to persist.
The 2024 Tampa Steel Conference is coming up soon after the kickoff of 2024. One of the premier steel conferences in the US, it will be a great complement to our record-breaking SMU Steel Summit this past August.
For our last SMU Spotlight of 2023, we had the pleasure of chatting with American Iron and Steel Institute (AISI) president and CEO Kevin Dempsey.
Pig iron prices rose month over month (MoM) for all major regions, driven by rising scrap prices.
Steel Dynamics Inc. (SDI) expects lower fourth-quarter earnings sequentially and on-year, though the company said “steel order activity remains solid.”
The LME aluminum 3-month price is moving higher on the morning of Dec. 15 and was last seen trading at $2,258 /metric ton. This means the price is up 7% already since the new low for 2023 was reached on Wednesday at $2,109 /metric ton. The US Dollar reached its lowest level since early August […]
Import duties on cut-to-length plate from South Korea and Italy were recently updated by the International Trade Administration (ITA), which is a part of the US Department of Commerce.
Flat Rolled = 54.0 Shipping Days of Supply Plate = 61.7 Shipping Days of Supply Flat Rolled After three months of inventory cuts, US service center flat-rolled steel inventories grew in November as shipments slowed. At the end of November, service centers carried 54 shipping days of flat-rolled steel supply on an adjusted basis, up […]
U.S. Steel on Thursday afternoon said it expected lower earnings in the fourth quarter compared to the third. The Pittsburgh-based steelmaker predicted fourth-quarter adjusted earnings before interest, income taxes, depreciation, and amortization (Ebitda) of approximately $250 million, or $0.20-$0.25 per diluted share.
SMU’s Community Chat on Wednesday, Dec. 13, featured Bank of America SVP Ira Kreft.
US hot-rolled coil (HRC) prices continued their upward movement this week, distinctly outpacing increases for offshore product once again. Domestic tags are now 27% more expensive than imports - the widest pricing gap in nearly two years.
Last week in Chicago, we hosted several metals companies for our bi-annual Metals Price Management Seminar (“MPMS”).
The US Department of Commerce’s International Trade Administration (ITA) has updated the antidumping duties on coated sheet imports from South Korea and Taiwan.
On Monday and Tuesday of this week, SMU polled steel buyers on a variety of subjects, including steel sheet prices, demand, inventory, imports, and what people are talking about in the market. Rather than summarizing the comments we received, we are sharing some of them in each buyer’s own words. We want to hear your […]
Sheet prices increased again this week on the heels of higher costs for scrap, pig iron, and iron ore.
United Auto Workers President Shawn Fain outlined the union’s strategy to unionize nonunion auto workers in the US.
US apparent supply increased to 8.11 million net tons in October, up 4% compared to 7.82 million tons in September, according to data from the US Department of Commerce and the American Iron and Steel Institute (AISI).
Domestic steel production slipped for the week ended Dec. 9 but rose in three regions, according to the American Iron and Steel Institute’s (AISI’s) report on Monday, Dec. 11.
The International Trade Commission (ITC) made its final injury determination in a sunset review of import duties on circular welded pipe from a handful of countries.
This year saw a huge increase in debate and proposals for addressing greenhouse gas emissions, not only here in the US but around the world.
US steel exports declined for the second month in a row in October, falling to the lowest monthly total so far in 2023.
A count of November license applications suggests steel imports were at their lowest monthly level in 33 months.
Active rotary rigs in the US and Canada are up for the second consecutive week, according to Baker Hughes.
The US presidential elections will take place on Nov. 5, 2024.
Canadian metals distributor Russel Metals Inc. plans to acquire Samuel, Son & Co.’s carbon plate service center operations in Western Canada and the US for roughly $225 million.
David Stickler is eager to demonstrate how advancements in technology can contribute to making the rebar market more sustainable.
ArcelorMittal expects that its $2.2-billion acquisition of Brazilian steelmaker Companhia Siderúrgica do Pecém (CSP) will close in late February. “The transaction closes end of this month,” chief financial officer Genuino Christino said during an earnings call with analysts last week. The Luxembourg-based steelmaker had said that the deal had received final antitrust clearance in commentary […]
Arkansas has become a hub for steel production in the southern US, and it will soon be home to another steel mill. Hybar, a newly formed company led by steel industry veteran David Stickler, announced it will build a $500 million greenfield minimill to produce rebar in northeast Arkansas just outside of Osceola. The new […]
ArcelorMittal Mexico has started up a new hot skin pass mill at its new hot rolling mill in Lázaro Cárdenas, Michoacán. The hot skin pass mill has come into operation seven months after the new $1 billion, 2.75-million-short-ton-per-year hot rolling mill produced its first coil. “We are very happy to reach today an important step […]