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Meeting of minds: Discussing the steel industry’s trajectory with Mr. Phillip Englin, CEO of World Steel Dynamics. Had a great experience today
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🌟 Introducing our Weekly Steel Update! Stay informed with the latest developments in the Metal industry worldwide. #SteelNews #IndustryUpdates #WeeklyRoundup 📊🏭
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A more nuanced report on the implications of the acquisition of U.S. Steel by Cleveland Cliffs. One is of course the monopoly the acquisition will create in blast furnace operations in the United States and access to Iron Ore Mines. But even more importantly it will create a lock on certain flat steel products which the Electric Arc Furnace are unable to produce. The bigger picture is the North American manufacturing market which is being incentived by the Government for reshoring in an environment where steel prices already are the highest in the world. #Worldofsteel
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In this video, we'll delve into Nucor ($NUE), a significant force in the steel industry, which has surged to a remarkable all-time high. Join us as we dissect the recent price movements of $NUE and pinpoint key levels we're closely monitoring. #nucor #nucorsteel #steel #steelindustry
Breaking Down Nucor's Record-Breaking Stock High: A Closer Look
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U.S. Steel rejected an unsolicited offer from rival Cleveland-Cliffs, stopping for now a deal that would significantly reshape the domestic steel industry. Cleveland-Cliffs said on Sunday it offered U.S. Steel $17.50 a share in cash and 1.023 shares of Cliffs stock, which would value U.S. Steel at more than $7 billion. Cleveland-Cliffs said the implied value of the offer is $35 a share. U.S. Steel stock closed at $22.72 on Friday. According to Cleveland-Cliffs, U.S. Steel’s board rejected the offer, calling it “unreasonable.” U.S. Steel said Sunday that it was reviewing “strategic alternatives.” Combining Cleveland-Cliffs and U.S. Steel would reduce the major steelmakers in the U.S. to three from four. Such a deal would strengthen Cleveland-Cliffs’ position in major steel-consuming industries, particularly appliances and automotive, where Cliffs is already the largest supplier of steel by volume. “We expect to create a lower-cost, more innovative and stronger domestic supplier for our customers,” Cleveland-Cliffs Chief Executive Lourenco Goncalves said. Created in 1901 by J.P. Morgan, Andrew Carnegie and others, U.S. Steel played an integral role in the country’s industrialization in the 20th century, supplying steel for everything from railroads to automobiles and skyscrapers. It is no longer one of the largest American companies, but remains a major player in the steel industry. U.S. Steel, Cleveland-Cliffs, Nucor and Steel Dynamics account for most of the steel produced in the U.S. But Cleveland-Cliffs and U.S. Steel are considered the high-cost producers in the pack. Most of their steel mills are older and more expensive to operate than Nucor and Steel Dynamics’ plants. U.S. Steel and Cleveland-Cliffs’ mills are also mostly staffed by members of the United Steelworkers. Goncalves’ pursuit of U.S. Steel is the latest in a series of swashbuckling moves in recent years that transformed Cleveland-Cliffs from an iron-ore mining company to a major steel producer. Goncalves acquired struggling Ohio-based AK Steel and most of the U.S. steel mills operated by Luxembourg-based ArcelorMittal as steel prices slumped during the early days of the Covid-19 pandemic. The consolidation of the steel market coincided with a major run-up in steel prices caused by pandemic-related shortages and supply-chain problems. By fall 2021, the spot-market price of sheet steel had reached nearly $2,000 a ton from below $500 a ton in late 2019. Steelmakers have been adding steel mills to take advantage of the rising prices and the protection from cheaper foreign steel provided by tariffs on imports.
U.S. Steel Rejects Offer From Cleveland-Cliffs
wsj.com
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In the steel industry, which is better, a buffer scale or a cast iron scale?
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U.S. Steel recently announced it was considering a sale of all or part of the company after receiving multiple unsolicited offers. However it rolls out will greatly affect the steel industry. But what does that mean? Michael Cowden of Steel Market Update writes that it might result in the separation of its unionized steelmaking mills, home to blast furnaces, and nonunion electric arc furnace operations that today exist under the same corporate roof. #steel #ussteel #steelindustry #steelmills #steelmaking #manufacturing
U.S. Steel sale is a monumental moment for the steel industry
thefabricator.com
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Forged Strength: Exploring the Applications and Advantages of Galvanized Steel in Various Industries
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