This Morning in Metals: February 2021 MMI report is out

This morning in metals news: the February 2021 Monthly Metals Index (MMI) report is out; meanwhile, US steel capacity utilization reached 76.9%; and, lastly, Rusal recently announced the acquisition of a German aluminum producer. February 2021 MMI repo…

This morning in metals news: the February 2021 Monthly Metals Index (MMI) report is out; meanwhile, US steel capacity utilization reached 76.9%; and, lastly, Rusal recently announced the acquisition of a German aluminum producer. February 2021 MMI report As regular readers know, we have published all 10 of our Monthly Metals Index (MMI) articles over...

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SSAB walks away from prospective IJmuiden acquisition

Swedish steelmaker SSAB has ended discussions with India’s Tata Steel over potential acquisition of IJmuiden plant, or Tata Steel Netherlands, the Stockholm-headquartered group stated Jan. 29. “After deeper analysis and discussions, it became clear that there were limited possibilities to integrate IJmuiden into the SSAB strategic framework,” SSAB said in a statement. “Discussions with Tata…

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Swedish steelmaker SSAB has ended discussions with India’s Tata Steel over potential acquisition of IJmuiden plant, or Tata Steel Netherlands, the Stockholm-headquartered group stated Jan. 29. “After deeper analysis and discussions, it became clear that there were limited possibilities to integrate IJmuiden into the SSAB strategic framework,” SSAB said in a statement. “Discussions with Tata...

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Germany’s ThyssenKrupp mulls steel division spinoff

German steelmaker ThyssenKrupp must be desperate to get rid of its steel business. The steelmaker makes a great range of products of world-class quality. The brand has undeniable strength as a result. However, it has not and cannot make money from it. ThyssenKrupp steel division posts losses The ThyssenKrupp steel division lost money last year….

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German steelmaker ThyssenKrupp must be desperate to get rid of its steel business. The steelmaker makes a great range of products of world-class quality. The brand has undeniable strength as a result. However, it has not and cannot make money from it. ThyssenKrupp steel division posts losses The ThyssenKrupp steel division lost money last year....

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European steel review, Part 1: Central, Eastern Europe offer mixed picture

(Editor’s Note: This is the first of a two-part review of the European steel sector.) While steelmakers east of Berlin are working to meet rising demand, others are facing myriad technical and regulatory challenges. Those challenges include a global pandemic that has severely impacted economies, industry watchers and market participants told MetalMiner. Sign up today…

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(Editor’s Note: This is the first of a two-part review of the European steel sector.) While steelmakers east of Berlin are working to meet rising demand, others are facing myriad technical and regulatory challenges. Those challenges include a global pandemic that has severely impacted economies, industry watchers and market participants told MetalMiner. Sign up today...

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SSAB eyeing IJmuiden for potential acquisition from Tata

As we noted yesterday, flats and specialty steels producer SSAB is in talks with Tata Steel over potential acquisition of the Indian group’s IJmuiden integrated plant in the Netherlands, the Swedish group confirmed. “SSAB has participated in several different discussions concerning consolidations in the European steel industry. The discussions with Tata are on-going but no…

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As we noted yesterday, flats and specialty steels producer SSAB is in talks with Tata Steel over potential acquisition of the Indian group’s IJmuiden integrated plant in the Netherlands, the Swedish group confirmed. “SSAB has participated in several different discussions concerning consolidations in the European steel industry. The discussions with Tata are on-going but no...

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Liberty Steel pushes for the big league with Thyssenkrupp offer

Sanjeev Gupta’s GFG Alliance and, in particular, its steel and aluminum subsidiary Liberty Steel, is rarely out of the news, it seems. The firm’s insatiable appetite for bankrupt or struggling metals assets has the market split. One the one hand, boosters are cheering its entrepreneurial spirit. On the other, naysayers are questioning the opaque funding…

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Sanjeev Gupta’s GFG Alliance and, in particular, its steel and aluminum subsidiary Liberty Steel, is rarely out of the news, it seems. The firm’s insatiable appetite for bankrupt or struggling metals assets has the market split. One the one hand, boosters are cheering its entrepreneurial spirit. On the other, naysayers are questioning the opaque funding...

The post Liberty Steel pushes for the big league with Thyssenkrupp offer appeared first on Steel, Aluminum, Copper, Stainless, Rare Earth, Metal Prices, Forecasting | MetalMiner.

MetalMiner breaks down Cleveland-Cliffs’ acquisition of ArcelorMittal USA

As we noted earlier this week, the Cleveland-Cliffs acquisition of ArcelorMittal USA came at a price tag of $1.4 billion. This comes after Cleveland-Cliffs acquired AK Steel earlier this year (among other things, AK Steel is the lone remaining U.S. producer of electrical steel). The deal includes nearly all of the ArcelorMittal subsidiary’s North American facilities…

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As we noted earlier this week, the Cleveland-Cliffs acquisition of ArcelorMittal USA came at a price tag of $1.4 billion. This comes after Cleveland-Cliffs acquired AK Steel earlier this year (among other things, AK Steel is the lone remaining U.S. producer of electrical steel). The deal includes nearly all of the ArcelorMittal subsidiary’s North American facilities...

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Automotive giants Fiat Chrysler, PSA to merge

It is not often the world’s largest carmakers engage in mergers and acquisitions among themselves. Fiat Chrysler and Renault Nissan announced a $35 billion plan to merge back in May 2019. The merger would have created the third-biggest carmaker, behind Volkswagen and Toyota. But within 10 days of the announcement, FCA pulled out and it…

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It is not often the world’s largest carmakers engage in mergers and acquisitions among themselves. Fiat Chrysler and Renault Nissan announced a $35 billion plan to merge back in May 2019. The merger would have created the third-biggest carmaker, behind Volkswagen and Toyota. But within 10 days of the announcement, FCA pulled out and it...

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Cleveland-Cliffs reaches $1.4B agreement to acquire ArcelorMittal USA

Cleveland-Cliffs Inc. has reached an agreement to acquire ArcelorMittal USA, the former announced Monday morning. Cliffs will acquire ArcelorMittal USA for approximately $1.4 billion. The deal is expected to close in the fourth quarter, “subject to the receipt of regulatory approval and the satisfaction of other customary closing conditions.” Cleveland-Cliffs (CLF) shares closed today at…

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Cleveland-Cliffs Inc. has reached an agreement to acquire ArcelorMittal USA, the former announced Monday morning. Cliffs will acquire ArcelorMittal USA for approximately $1.4 billion. The deal is expected to close in the fourth quarter, “subject to the receipt of regulatory approval and the satisfaction of other customary closing conditions.” Cleveland-Cliffs (CLF) shares closed today at...

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Sanjeev Gupta’s Liberty House Group announces new acquisitions in France

After considerable speculation about the fate of two said-to-be strategic steel mills in northern France — left over from the rump of British Steel — Sanjeev Gupta’s GFG Alliance/Liberty House Group is reported in the Financial Times as being approved to take over the two plants. The French had refused to allow their sale to…

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After considerable speculation about the fate of two said-to-be strategic steel mills in northern France — left over from the rump of British Steel — Sanjeev Gupta’s GFG Alliance/Liberty House Group is reported in the Financial Times as being approved to take over the two plants. The French had refused to allow their sale to...

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