Steel News Updates

GovernmentBusiness

Nippon Steel to Get Extension on US Steel Plan

A U.S. security panel has granted Nippon Steel permission to refile its plans to purchase United States Steel for $14.1 billion, likely pushing a decision on the takeover past the elections.

September 18, 2024
GovernmentBusiness

Decision on US Steel Deal May Come After Election

United States Steel Corp. surged the most this year after The Washington Post reported that President Joe Biden wouldn’t immediately move to block Nippon Steel Corp.’s takeover bid.

September 13, 2024
GovernmentBusiness

Nippon Steel Sends VP to Washington to Rescue US Steel Bid

Nippon Steel has sent a senior executive to Washington to boost its case for the $14.1 billion takeover of United States Steel, according to people familiar with the matter.

September 11, 2024
GovernmentBusiness

Biden to Reject $14.1 Billion Nippon Steel-US Steel Deal

U.S. President Joe Biden is preparing to block Nippon Steel Corp.’s $14.1 billion takeover of United States Steel Corp., according to people familiar with the matter.

September 4, 2024
Business

Nippon Steel to Boost Capital Commitment to US Steel Plants

HARRISBURG, Pa. — Nippon Steel Corp. raised its capital commitment Aug. 29 by more than $1 billion to spend on U.S. Steel’s plants.

August 29, 2024
Business

Cleveland-Cliffs to Buy Canada’s Stelco for $2.8 Billion

Cleveland-Cliffs agreed to buy Canadian steelmaker Stelco Holdings for about $2.8 billion, in the company’s first major move after losing out in its bid for U.S. Steel Corp. last year.

July 15, 2024
GovernmentBusiness

Biden to Require US-Made Steel, Iron for Infrastructure

WASHINGTON — The Biden administration is taking a key step toward ensuring that federal dollars will support U.S. manufacturing — issuing requirements for how projects funded by the $1 trillion bipartisan infrastructure package source their construction material.

April 18, 2022
BusinessEquipmentLogistics

Sinking Auto Steel Demand Reveals Cracks in Robust US Market

The record steel rally is starting to show early signs of cooling, with one top U.S. producer scouring for buyers to take over abandoned orders of high-end metal used by automakers.

November 2, 2021
BusinessLogistics

Top Stainless Steel Maker Roiled by Supply Chain Woes

In another sign of how supply chains are being snarled all over the world, a leading U.S. maker of stainless steel was forced to declare force majeure at its Kentucky mill because it can’t get enough of the industrial gases it needs.

July 12, 2021
GovernmentBusinessLogistics

EU, US Reach Truce on Metal Tariffs Ahead of Biden Visit

The European Union agreed to avoid escalating its dispute with the U.S. over metal tariffs, sparing iconic products such as bourbon whiskey and Harley-Davidson motorbikes from a doubling of EU duties next month.

May 17, 2021