Late Sunday night, the Wall Street Journal reported that U.S. Steel had rejected an unsolicited offer from Cleveland-Cliffs for the company, valuing it at $7 billion. According to the report, Cliffs offered $17.50/share in cash plus 1,023 shares of Cliffs stock. U.S. Steel promptly rejected the offer and indicated that it would seek alternative proposals. […]
Tag: steel production
European Tariffs Planned for Carbon-Intensive Steel and Aluminum
Global metal manufacturing is already set to change in 2023. Indeed, the European Council and European Parliament recently reached a provisional agreement over the Carbon Border Adjustment Mechanism (CBAM). This would impose new tariffs on materials from carbon-intensive industries imported into the 27-member bloc. According to members of the Committee on the Environment, Public Health, […]
Global crude steel production down in August, China’s drops 5.3%
Global crude steel production fell by 1.4% year over year in August, the World Steel Association reported. Do you know which market conditions are best with different steel contracting mechanisms? Check out our best practices on this topic. Global crude steel production falls, including in China Global crude steel production fell by 1.4% to 156.8 […]
US steel capacity utilization dips to 84.9%
The U.S. steel capacity utilization rate fell slightly but remained at a healthy 84.9% for the week ending Sept. 18, the American Iron and Steel Institute reported this week. Volatility is the name of the game. Do you have a steel buying strategy that can handle the ups and downs? Steel capacity utilization hits 84.9% […]
Global crude steel production drops for second straight month
Global crude steel production fell month over month for the second straight month in July, the World Steel Association reported this week. With volatile steel markets, knowing which strategy to execute and when can make all the difference between saving and losing money. See how MetalMiner looks at different market scenarios. Global crude steel production […]
Salzgitter-Flachstahl and Anglo American to cooperate on decarbonizing steel operations
German flats producer Salzgitter-Flachstahl, part of the Salzgitter group, and Anglo American have signed a memorandum of understanding (MoU) to cooperate on decarbonizing steel production, the London-headquartered company announced. The work will include methods to reduce carbon emissions by researching iron ore pellets and lump ores that would be suitable for use in direct reduction […]
June global crude steel production drops 4.0% month over month
While global steel production levels remain well ahead of levels seen at the same time last year — when the COVID-19 was still only in its early days and demand had not yet had a chance to bounce back — output levels in June did fall compared with the previous month. According to the World […]
In May, global production of crude steel surged by 16.5%.
Global crude steel production in May rose by 16.5% compared with May 2020, the World Steel Association reported this week. However, the gain marked a drop from the 23.4% year-over-year surge in April. In addition, as Stuart Burns noted yesterday, May output fell by 0.4% compared with April. Production jumped to 174.4 million metric tons […]
US steel production steady as imports ramp up to start the year
The US steel sector’s capacity utilization rate posted another incremental gain — this past week rising to 77.7% — as steel production remains steady, but buyers continue to face challenges in securing supply. Volatility is the name of the game. Do you have a steel buying strategy that can handle the ups and downs? Steel […]
This Morning in Metals: March 2021 Annual Outlook update now available
This morning in metals news: MetalMiner’s March update to its Annual Outlook report is now available to subscribers; US steel capacity utilization reached 77.4% last week; and the United States Trade Representative announced the conclusion of WTO quota negotiations with the European Union. The MetalMiner Best Practice Library offers a wealth of knowledge and tips […]
