Category: Steel
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Looming Trump Tariffs Make US Steel Too Expensive at Home
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(Bloomberg) – The supply lines are a daily news message that tracks world trade. Subscribe here. Most of them read from Bloomberg An indelible steel tariff from US President Donald Trump, which does not start for two weeks affects American buyers who already see the cost of American minerals more…
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Ailing China Steel Sector Seized by Talk of ‘Supply Reform 2.0’
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Bread path links PMN Business China’s steel industry is heading by preparing it towards the largest disposal of it in a decade, with speculation that Beijing will ask to close the factory in response to the slow building slow and a wave of protectionism abroad. The author of the article:…
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Exclusive-Ancora demands U.S. Steel board records, ratchets up proxy fight
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By svea herbst-bayliss New York (Reuters) – An active investor is calling on Ancora Holdings to reach records from the United States Steel, starting from the Board of Directors’s minutes to financial documents, where a campaign links to replace some members of the company and the CEO, according to a…
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UK steel industry warns Trump’s tariffs are a ‘sledgehammer to free trade’
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The UK government has refused to criticize Donald Trump’s decision to impose tariff fees of 25 percent on British steel exports, despite concerns related to industrial leaders that this step will severely harm the sector. Trump’s executive order, which removes exemptions for the United Kingdom and all other countries, will…
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Trump sets 25% tariffs on steel, aluminum as trade war grows
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Bread path links news A US official said the new prices will enter into force on March 4. The author of the article: Bloomberg News Jennifer A. Black, Jenny Leonard and Josh Winjov It was published on February 10, 2025 • The last update in 21 minutes • 5 minutes…
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Markets react to Trump’s tariffs on steel and aluminium imports
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SENGAFARA (Reuters) – US President Donald Trump said on Sunday that he would provide a new tariff of 25 % on all steel and aluminum imports to the United States, as well as current mineral duties. He also said that he would announce a mutual tariff on Tuesday or Wednesday.…
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Biden’s Decision on US Steel Deal Followed Divide in His Orbit
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Breadcrumb Trail Links PMN Business Two weeks after the US election, hundreds of allies gathered at the White House to soothe Joe Biden in defeat. Tracking the closed-door bash for clues was a group rarely interested in the routine preening of Washington: arbitrage traders. Author of the article: Bloomberg News…
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Steel industry urges government to choose British in offshore wind expansion
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The UK steel industry is urging the government to commit to buying British steel as part of the country’s planned offshore wind boom. Wind power now accounts for almost a third of UK electricity generation, yet less than 2% of steel used in offshore wind projects over the past five…
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Trump’s Ex-Secretary Of State Mike Pompeo Backs Nippon Steel’s $14.9B Acquisition Of US Steel Citing National Security Concerns
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Trump’s former Secretary of State Mike Pompeo supports Nippon Steel’s $14.9 billion takeover of the US steel company over national security concerns. President-elect Donald TrumpFormer US Secretary of State Mike Pompeo He threw his support behind him Nippon Steel Company(OTC:NPSCY) (OTC:NISTF) proposed a $14.9 billion acquisition United States Steel Corporation…
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Ministers consider renationalising British Steel to save thousands of jobs
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The UK government is considering renationalizing British Steel in a bid to protect thousands of jobs at its Scunthorpe site, amid stalled negotiations with its Chinese owner, Jingyi, over a £1bn investment plan. Business Minister Jonathan Reynolds is leading discussions with Jingye to determine a financing agreement for the company’s…
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People underestimate AI the same way everyone underestimated steel in the 1800s, tech CEO says
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Our world is in the midst of an AI revolution, and as the technology matures, we will see how companies learn to leverage it and grow with it. Zig Serafin, CEO of management software company Qualtrics, told an old saying in… luck’Q The Global Forum conference will be held in…
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Thyssenkrupp steel head prepares staff for ‘tough’ cuts By Reuters
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FRANKFURT (Reuters) – ThyssenKrupp’s (ETR:) steel division’s new head told a German newspaper that its 27,000 steelworkers should prepare for deep cuts, paving the way for a large number of layoffs. “Strict cuts are necessary. We have to become more profitable,” said Dennis Grimm, spokesman for the executive board of…
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White House officials signal delay in U.S. Steel takeover decision, Washington Post reports By Reuters
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(Reuters) – White House officials have signaled a delay in making a decision on Japan’s Nippon Steel Corp.’s acquisition of U.S. Steel, the Washington Post reported on Friday. The Committee on Foreign Investment in the United States, Nippon and U.S. Steel declined to comment. The White House did not immediately…
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Factbox-Nippon Steel rebuts CFIUS’s case against its bid for US Steel-letter By Reuters
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WASHINGTON (Reuters) – Nippon Steel Co. defended its $14.9 billion bid for U.S. Steel Inc., saying it would boost the U.S. steel industry and that politics were driving U.S. opposition to the deal, according to a strongly worded letter first reported by Reuters. Here is a summary of some of…
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Steel Dynamics files petition for duties on corrosion resistant steel imports
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Kapook2981/iStock via Getty Images Steel dynamics (NASDAQ:STLDBritish Steel said on Thursday it had applied to the U.S. Department of Commerce and the U.S. International Trade Commission to apply anti-dumping duties on imports of corrosion-resistant flat-rolled steel, claiming that increased imports were harming the domestic steel industry. The company These duties…
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Exclusive-US warns against Nippon merger with US Steel, citing China steel glut By Reuters
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Written by Alexandra Alper WASHINGTON (Reuters) – Nippon Steel Corp.’s proposed $14.9 billion takeover of U.S. Steel would create national security risks because it could hurt steel supplies needed for vital transportation, construction and agricultural projects, the United States said in a letter to the companies seen by Reuters. The…
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Exclusive-US warned Nippon its US Steel bid poses a national security risk, sources say By Reuters
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By Alexandra Alper and David Shepardson WASHINGTON (Reuters) – The Biden administration told Nippon Steel Corp in a letter on Saturday that its $14.9 billion takeover of U.S. Steel would pose a national security risk by hurting the U.S. steel industry, three people said, adding to evidence that the United…
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Kamala Harris says US Steel should remain independent (NYSE:X)
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Juicecack Update at 6:30pm: Harris adds comments. Vice President Kamala Harris said that U.S. Steel (New York Stock Exchange:X) must remain locally owned and operated during a visit to Pittsburgh on Monday, a potential issue for Nippon Steel’s (OTCPK: NISTF) planned $14 billion deal. Harris made Comments made at a…
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US Steel Industry Sees Economy Reviving Demand in 2025
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Breadcrumbs Path Links PMN Business U.S. steel industry executives say they are optimistic that demand for the industrial material will rebound next year, recovering from weak demand and low prices that hobbled the industry in 2024. Article author: Bloomberg News Sana Pashankar Published on August 31, 2024 • Read for…
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Canada to Hit China With Tariffs on Electric Vehicles, Steel
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Breadcrumbs Path Links PMN Business Canada plans to impose new tariffs on Chinese-made electric cars, aluminum and steel, in a move to back its Western allies and protect domestic manufacturers. Article author: Bloomberg News Brian Platt Published on August 26, 2024 • Read for 3 minutes You can save this…