US President-elect Donald Trump has announced that he will block Japanese steel giant Nippon Steel from acquiring its American rival US Steel, a deal that was announced a year ago and worth $14.9 billion. “I am totally opposed to the once great and powerful US Steel being acquired by a foreign company, in this case …
Trump vows to block Japanese steel giant Nippon Steel from acquiring US Steel Read More »
President-elect Donald Trump’s plan to impose 25% tariffs on all goods from Canada and Mexico would push steel and aluminum prices across the United States higher, according to Citigroup analysts. Aluminum and steel face the biggest impacts from Trump’s tariff threat, with Canada and Mexico being major suppliers to the United States, according to analysts …
The US Commerce Department has approved a tariff increase on Nippon Steel, as the Japanese steelmaker promised to fight imports to secure support for its $14.1 billion deal to acquire US Steel. The Commerce Department imposed a 29% anti-dumping duty on Nippon Steel for selling hot-rolled steel in the United States at below-normal prices from …
The British newspaper, Financial Times, reported that the frozen trade dispute over steel has become an early test for the European Union’s relationship with the incoming administration of US President-elect Donald Trump. The outgoing US President Joe Biden had reached a truce with the European Union in the conflict that erupted when former President Donald …
Financial Times: The trade dispute over steel between Brussels and Washington is renewed Read More »
According to export data from the US Department of Commerce, monthly steel exports in September this year decreased 11.3% from August and down 13.3% year on year to 379,700 mt. In terms of value, US steel exports in September totaled $1.19 billion, compared to $1.33 billion in August and $1.27 billion in September last year. …
According to preliminary census data from the US Department of Commerce, US imports of rebar totaled 63,287 mt in August this year, down 24.3% month on month and down 144.2% year on year. By value, rebar imports totaled $41.4 million in August this year, compared to $47.5 million in July and $93.8 million in August …
Canada has published a list of dozens of Chinese steel and aluminum products that will be hit with 25% tariffs, starting in three weeks. The tariffs, announced in August alongside a 100% tax on electric cars made in China, bring Canada’s trade policy more in line with that of its closest allies and are aimed …
Canada to impose tariffs on Chinese steel, aluminum Read More »
U.S. Steel saw its shares rise more than 3% after news that a U.S. security panel has given Nippon Steel permission to resubmit its plans to buy the company for $14.1 billion. A U.S. national security panel reviewing Nippon Steel’s $14.9 billion bid for U.S. Steel has allowed the two companies to resubmit their application …
US Steel shares rise after Nippon takeover decision delayed until after election Read More »
Nippon Steel Vice President Takahiro Mori is heading to Washington today to meet with senior US officials in a last-ditch effort to save the $15 billion US Steel takeover. The visit comes as the deal faces opposition from President Joe Biden and Vice President Kamala Harris, who have expressed concerns about national security. The deal …
Last-ditch effort to save Nippon Steel’s US Steel takeover Read More »
US Steel will close its steel mills and possibly move its headquarters out of Pittsburgh, Pennsylvania, if its planned sale to Japan’s Nippon Steel falls through, its chief executive said. Nippon Steel has pledged to invest about $3 billion in its aging Pittsburgh plants, which is crucial to keeping the company competitive and jobs, the …
U.S. Steel shares fell more than 15% after report White House seeks to block Nippon Steel’s takeover of Japan. The drop comes after Democratic presidential candidate Kamala Harris this week echoed President Joe Biden’s concerns about the $15 billion deal, saying U.S. Steel “should remain American-owned and operated.” People familiar with the matter told The …
A source close to US Vice President and Democratic presidential candidate Kamala Harris revealed that she insists on the continued ownership and management of US Steel Corp, which represents an obstacle to the Japanese steel company Nippon Steel Corp’s attempt to acquire the US company. Bloomberg quoted the source as saying that Harris, who will …
Harris rejects sale of US Steel to Japan’s Nippon Steel Read More »
The US Trade Representative has expressed strong support for Canada’s decision to impose 100% tariffs on Chinese-made electric vehicles and 25% on Chinese steel and aluminum, as she finalizes planned US restrictions at similar rates. In a statement from her office on Thursday, Katherine Tai commended Canada’s decision to take strong action against state-backed, unfair …
US supports Canada’s move to impose trade restrictions on Chinese exports Read More »
According to preliminary census data from the US Department of Commerce, US imports of rebar totaled 52,392 mt in June this year, down 53.7% month on month and down 72.8% year on year. By value, rebar imports totaled $33.4 million in June this year, compared to $72.3 million in May and $123.0 million in June …
Canadian Prime Minister Justin Trudeau announced a 100% tariff on Chinese electric vehicle imports, in line with U.S. measures aimed at stemming the flow of state-subsidized Chinese vehicles into North America. He also unveiled an additional 25% tax on steel and aluminum products from China. The additional tax on electric vehicles will take effect on …
Canada to impose 100% tariff on Chinese electric vehicles, 25% on steel Read More »
Major U.S. steelmakers, including Nucor (NYSE:NUE), Steel Dynamics (NASDAQ:STLD) and U.S. Steel, to announce a decline in second-quarter earnings. Analysts note that the steel industry may continue to face challenges due to further decline in steel prices as the steel season approaches, which is typically a slower period for steel consumption. These companies have already …
US steelmakers are bracing for lower second-quarter profits amid falling prices Read More »
The United States today revealed tightening measures related to steel and aluminum imports from Mexico, as part of its efforts to prevent Chinese-origin goods from evading duties. This is the latest step taken by President Joe Biden’s administration in the period leading up to the elections, as part of a series of efforts aimed at …
US tightens steel and aluminum import rules to prevent China from avoiding paying duties Read More »
In May 2024, US steel enterprises increased imports of rolled steel products by 6.6% compared to April this year, to 2.23 million tons. This is evidenced by data from the American Iron and Steel Institute (AISI). Total steel imports (rolled products and semi-finished products) increased by 1.7% last month compared to April – to 2.85 …
US increased rolled steel imports by 6.6% in May Read More »
U.S. flat rolled steel prices appeared bearish, accelerating declines throughout June. HRC prices fell nearly 9%, their most significant month-over-month drop since February. CRC and HDG prices saw respective 6% declines, while plate prices fell 4%. Steel prices remain in search of new bottoms as the market appears increasingly soft. As of June 13, hot …
Report: U.S. Flat Steel Prices Pressured by Influx of Imports Read More »
According to export data from the US Department of Commerce, monthly steel exports in April this year increased 6.0% from March and were up 9.5% year on year to 763,571 mt. In terms of value, US steel exports in April totaled $1.36 billion, compared to $1.29 billion in March and $1.24 million in April last …
The administration of US President Biden confirms that it will increase the customs tariff rate on some steel and aluminum products of Chinese origin under Article 301 from 0-7.5% to 25% in 2024. This comes after an in-depth review by the US Trade Representative. A White House statement said the move is part of anti-dumping …
President Joe Biden pledged that America would retain ownership of United States Steel Corp., and called for increasing tariffs on Chinese steel and aluminum, as part of his effort to win over union workers before the presidential elections scheduled for next November. “US Steel has had a distinguished status as an American company for more …
Biden pledges that America will retain ownership of US Steel Read More »
US President Joe Biden called for increasing customs duties on steel imported from China by three times “to protect American producers from the flood of cheap imports coming from Beijing.” This step reflects the intersection of Biden’s international trade policy with his efforts to attract voters in Pennsylvania, which is likely to play a pivotal …
US intends to increase duties 3 times on imports of Chinese steel and aluminum Read More »
The US Justice Department has opened an expanded antitrust investigation into Nippon Steel’s $14.1 billion takeover bid for United States Steel Corp, creating additional legal hurdles to completing the deal, according to people familiar with the matter. On command. Regulators at the ministry are seeking more information for antitrust reasons, according to the people, who …
US opens an expanded investigation into a major acquisition deal in the steel sector Read More »
Oil prices rose amid signs that demand this year may be stronger than expected, while the Israeli offensive in Syria threatens to expand conflict in the Middle East. West Texas Intermediate crude advanced as much as 1.6% to trade above $84, reaching the highest intraday price since October 30. Industrial activity in China rebounded in …
According to preliminary census data from the US Department of Commerce, US monthly steel imports in February 2024 decreased 3.3% from January to total 2,239,828 mt. A year-on-year comparison shows a 7.7% increase. In terms of value, US steel imports in February totaled $2.64 billion, compared to $2.88 billion in January and $2.82 billion in …
According to export data from the US Department of Commerce, US exports of rebar totaled 17,939 mt in January 2024, up 28.3% from December but down 11.5% from January 2023. By value, rebar exports totaled $14.8 million in January, compared to $11.4 million in the previous month and $18.1 million the same month last year. …
The United States has notified the European Union that it is prepared to risk derailing attempts to reform one of the pillars of multilateral trade cooperation if the Union reopens a case in the World Trade Organization against Washington over the steel and aluminum dispute in the Trump era. European diplomats and officials said that …
US President Joe Biden announced on Thursday his opposition to the agreement reached for the Japanese Nippon Steel Group to acquire the American steel manufacturer US Steel. Biden said in a statement, “US Steel has been a model American steel company for more than a century, and remaining a domestically owned and operated American steel …
Biden opposes Japan’s Nippon Steel’s acquisition of US Steel Read More »
According to export data from the US Department of Commerce, monthly steel exports in January 2024 increased 25.4% from December to total 699,122 mt. A year-on-year comparison shows a 5.7% increase. In terms of value, US steel exports in January totaled $1.25 billion, compared to $1.02 billion in December and $1.23 million in January 2023. …
Arab Iron and Steel Union was established in Algeria in 1972 as the first Arab Union of the Arab countries to be founded under the Council of Economic Unity umbrella in the League of Arab States.
It is the first Arab organization to specialize in the iron and steel field, and its tasks fall within making plans aimed mainly at developing and growing the iron and steel industry in the Arab world.
Arab Iron and Steel Union comprises a wide range of multi-activity companies related to the iron and steel industry from the Arab countries.
General Secretariat
Tel +21320343324 – +21320343357
Fax +21320343194
Mail: [email protected]
Cairo Regional Office
Tel +20233356219 Fax +20233374790
Mail: [email protected]
