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The $14.9 billion sale of iconic steelmaker US Steel to Japan’s Nippon Steel ends months of speculation over industry consolidation in a move criticized by union workers, but seen by one analyst ...
Morgan Stanley forecasts late Q1 and Q2 HRC prices of around $700/t driven in part by China stimulus demand. In the longer term, the firm is forecasting 2020 and 2021 HRC prices of $660/t and $640 ...
US Steel’s share price bounced from $22.50 on Aug. 10 to over $31 on Aug. 14 when the acquisition interest from Cleveland-Cliffs became public.
American Metal Market (AMM) is an online provider of industry news and metal pricing information for the U.S. steel, nonferrous and scrap markets. Products include a daily publication available electronically, live news on the publication's website, a hard-copy magazine and a series of weekly newsletters covering niche markets.
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.
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. [21] 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 ...
For example, while general inflation (e.g., consumer price index) in the US was less than 5% in the 2003-2007 time period, steel prices increased (escalated) by over 50% because of supply-demand imbalance.
Shares of US Steel dropped as much as 21.8% to a two-month low of $30.55 following the Bloomberg report, and triggered multiple trading halts for share price volatility and closed down 10% at $35.26.