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In December, U.S. Steel said it expected fourth-quarter adjusted earnings of roughly $150 million, undershooting Wall Street forecasts of nearly $262 million. The company reported third-quarter ...
The bid by Japan's Nippon Steel to buy U.S. Steel may have a new lease on life, even as the potential for a new bid for the storied Pittsburgh steelmaker began to emerge Monday. Lourenco Goncalves ...
US Steel's annual revenue grew from $12.93 billion in 2019 to $21.06 billion in 2022, when the the price of the underlying commodity reached a record of almost $2000 per ton during the pandemic.
Most iron and steel in the United States is now made from iron and steel scrap, rather than iron ore. The United States is also a major importer of iron and steel, as well as iron and steel products. Employment as of 2014 was 149,000 people employed in iron and steel mills, and 69,000 in foundries.
U.S. Steel, formed by J. P. Morgan's merger of Carnegie Steel with other steel producers, was once the largest company in the United States. [23] The Pittsburgh-based steelmaker had held the record for the largest initial public offering of any company in history—becoming the first billion-dollar company—and was added to the Dow Jones Industrial Average on its first day of public trading ...
Ultimately, Cleveland-Cliffs failed to purchase U.S. Steel as the company agreed to be acquired by Japan's Nippon Steel instead for $14.9 billion. [55] In January 2025, US President Joe Biden blocked the merger. Both US Steel and Nippon sued the US government, complaining that the block was “a clear violation of due process”.
U.S. Steel bought Big River Steel the following year. Prices have settled back to around $800 per metric ton, but that remains at the top end of the spectrum for steel prices over the past six years.
The United States Steel Corporation is an American steel company based in Pittsburgh, Pennsylvania, with production facilities in the U.S. and Central Europe.. The company produces and sells steel products, including flat-rolled and tubular products for customers in industries across automotive, construction, consumer, electrical, industrial equipment, distribution, and energy.