Steel News Updates

Government, Business

Citigroup: Trump Tariffs to Drive Up Aluminum, Steel Prices

President-elect Donald Trump’s plan to impose 25% tariffs on all goods from Canada and Mexico will push up steel and aluminum prices across the U.S., according to Citigroup analysts.

November 26, 2024
Government, Business

Nippon Steel Makes Anti-Import Vow to US Steel Workers

Nippon Steel Corp. is promising unionized workers of United States Steel Corp. that it won’t send steel shipments from its overseas mills as part of its commitments to seal a $14.1 billion takeover of the American company.

November 18, 2024
Government, Business

Nippon Steel Confident It Can Finalize Acquisition This Year

Nippon Steel Corp. said it still expects its $14.1 billion acquisition of United States Steel Corp. to complete by the end of the year.

November 7, 2024
Government, Business

Arbitration Favors US Steel Over Deal

A U.S. arbitration panel has come out in favor of U.S. Steel in a dispute with union workers over Nippon Steel’s plan to buy the Pittsburgh-based company, according to the United Steelworkers.

September 25, 2024
Government, Business

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
Government, Business

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
Government, Business

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
Government, Business

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