This morning in metals news: the February 2021 Monthly Metals Index (MMI) report is out; meanwhile, US steel capacity utilization reached 76.9%; and, lastly, Rusal recently announced the acquisition of a German aluminum producer. February 2021 MMI report As regular readers know, we have published all 10 of our Monthly Metals Index (MMI) articles over […]
Category: M&A Activity
SSAB walks away from prospective IJmuiden acquisition
Swedish steelmaker SSAB has ended discussions with India’s Tata Steel over potential acquisition of IJmuiden plant, or Tata Steel Netherlands, the Stockholm-headquartered group stated Jan. 29. “After deeper analysis and discussions, it became clear that there were limited possibilities to integrate IJmuiden into the SSAB strategic framework,” SSAB said in a statement. “Discussions with Tata […]
Germany’s ThyssenKrupp mulls steel division spinoff
German steelmaker ThyssenKrupp must be desperate to get rid of its steel business. The steelmaker makes a great range of products of world-class quality. The brand has undeniable strength as a result. However, it has not and cannot make money from it. ThyssenKrupp steel division posts losses The ThyssenKrupp steel division lost money last year. […]
This Morning in Metals: USTR releases annual WTO compliance report for China, Russia
This morning in metals news: the United States Trade Representative released its annually mandated report covering the WTO rules compliance of China and Russia; U.S. Steel officially closed on its acquisition of the remaining equity of Big River Steel; and the Pilbara Ports Authority earlier this month reported shipping data for December. USTR releases annual […]
This Morning in Metals: Rio Tinto commits $10M toward low-carbon steelmaking research partnership with Baowu
This morning in metals news: Rio Tinto has committed $10 million toward its research partnership with China’s Baowu Steel Group; meanwhile, Freeport McMoRan completed the sale of an undeveloped project in the Democratic Republic of the Congo; and, lastly, copper remains at an over seven-year high. Cut-to-length adders. Width and gauge adders. Coatings. Feel confident […]
European steel review, Part 1: Central, Eastern Europe offer mixed picture
(Editor’s Note: This is the first of a two-part review of the European steel sector.) While steelmakers east of Berlin are working to meet rising demand, others are facing myriad technical and regulatory challenges. Those challenges include a global pandemic that has severely impacted economies, industry watchers and market participants told MetalMiner. Sign up today […]
SSAB eyeing IJmuiden for potential acquisition from Tata
As we noted yesterday, flats and specialty steels producer SSAB is in talks with Tata Steel over potential acquisition of the Indian group’s IJmuiden integrated plant in the Netherlands, the Swedish group confirmed. “SSAB has participated in several different discussions concerning consolidations in the European steel industry. The discussions with Tata are on-going but no […]
Week in Review: Airbus-Boeing saga; industrial production; Liberty’s Thyssenkrupp bid
Before we head into the weekend, let’s take a look back at the week that was and some of the metals storylines here on MetalMiner, including the Airbus–Boeing subsidy saga, industrial production, Liberty Steel’s bid for German firm Thyssenkrupp’s steel division and much more. The MetalMiner 2021 Annual Outlook consolidates our 12-month view and provides […]
Liberty Steel pushes for the big league with Thyssenkrupp offer
Sanjeev Gupta’s GFG Alliance and, in particular, its steel and aluminum subsidiary Liberty Steel, is rarely out of the news, it seems. The firm’s insatiable appetite for bankrupt or struggling metals assets has the market split. One the one hand, boosters are cheering its entrepreneurial spirit. On the other, naysayers are questioning the opaque funding […]
This Morning in Metals: Ford’s China sales rise by greatest amount since 2016
This morning in metals news: Ford’s China sales posted their largest year-over-year increase in Q3 since 2016; overall automotive sales in China gained 12.8% year over year; and Liberty Steel Group announced it has made an offer to acquire German firm Thyssenkrupp’s steel business. Does your company have an aluminum buying strategy based on current […]
