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...The Japanese steelmaker has said it will pump investment into US Steel and update its technology....
...The US iron ore miner-turned- steel-consolidator kicked off merger and acquisition fireworks in August with a much lower unsolicited bid for US Steel....
...Liquidation proceedings mean the priority becomes selling off assets and could make it more challenging for developers to access new funding, halting construction and leaving thousands of homes unfinished...
...Demand for construction inputs — or the goods contractors buy, such as plasterboard and steel — was also subdued, as last month marked the sixth consecutive reduction in month-on-month purchasing activity...
...“[Cfius] can and should block the acquisition of US Steel by NSC, a company whose allegiances clearly lie with a foreign state and whose record in the United States is deeply flawed,” the senators wrote....
...But analysts said Chinese steel was still finding its way into western markets through Asian nations such as India, Japan and Vietnam importing cheap raw materials from China and then selling them to Europe...
...When she released her acclaimed debut album Dark Energy in 2015, Jlin was working in a steel mill operating heavy machinery....
...Whether the acquisition is approved or blocked by US authorities for national security reasons, Nippon Steel’s current dilemma has significant implications for Japan Inc as companies pursue growth outside...
...Turkey’s trade ministry said on Tuesday that it would restrict the sale of goods including certain iron, steel, and aluminium products, as well as construction materials such as cement, rebar, excavators...
...On Wednesday he vowed to keep US Steel in American ownership, and called for higher tariffs on Chinese steel and aluminium imports in a bid to shore up support with unions....
...US steel unions have asked President Joe Biden to open a trade investigation into alleged Chinese unfair economic practices in the shipbuilding and maritime logistics sectors....
...and do deals....
...“[Cfius] can and should block the acquisition of US Steel by NSC, a company whose allegiances clearly lie with a foreign state and whose record in the United States is deeply flawed,” wrote JD Vance of Ohio...
...The STDC had been joined in its action by Teesworks Ltd, the public-private joint venture set up to develop the steel site....
...Exhibit A: Nippon Steel’s $14.9bn takeover offer for US Steel....
...— World’s longest-delayed construction project will now be completed (ish) by 2026 (Guardian) — A Trump bankruptcy, part 1 and part 2 (Credit Slips) — Too Much Certainty is a Terrible Thing: Benchmarks...
...The steel industry has become a 2024 election issue in the US since Nippon Steel’s planned takeover of US Steel was announced in December....
...It aims to produce a viable business and safeguard a UK supply source for customers ranging from carmaking to construction, avoiding them being reliant on foreign countries that may not always be allies....
...“Steel mills are running flat out, demand is strong and you see a pick-up in demand in copper and aluminium from the very massive development of renewable energy and electrical vehicles [in the country]....
...Chinese players now dominate global steel production and US Steel — once associated with the robber barons Andrew Carnegie and John Pierpont Morgan — has now been diminished as an American powerhouse....
...Also not enjoying the irony are historians — because politicians’ WhatsApps are part of a broader and deeper problem for archive management and public understanding of records in the digital age....
...Chinese steel mills appear to be losing money when producing basic steel for construction. Both coking coal and iron ore are relatively expensive....
...The steel industry has since gone into overdrive, with output for the second half of this year on track to be the second strongest on record behind 2020, according to Goldman Sachs....
...to pass on lower prices for raw materials like timber and steel”....
...Flows to active US exchange traded funds have surged past previous records for both monthly and quarterly hauls, helping to drive assets held in the vehicles above $750bn at the end of March....
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