Steel News
Steel major ArcelorMittal is under scrutiny for allegedly misusing subsidies intended for green hydrogen and decarbonisation pledges while simultaneously delivering record returns to shareholders.
Furthermore, it will boost production of high quality steel melted and manufactured in the U.S., noted Parth Jindal, Director, JSW Steel USA.
The steel industry has been shifting to greener practices.
The acquisition of U.S. Steel will help Nippon, the world's fourth-largest steel maker, move toward 100 million metric tons of global crude steel capacity.
The production was 1.701 million NT during the week ended April 27, 2024, with a capability utilization rate of 76.6%.
The report provides year-on-year comparison of shipment volumes of various steel products during the initial three months of 2024.
The quarterly sales dropped from $18.5 billion a year ago to $16.28 billion in the first three-month period of 2024.
David B. Burritt, President and Chief Executive Officer, U.S. Steel said that the company delivered solid first quarter results.
However, an overwhelming majority of U.S. Steel shareholders voted in favor of the deal in April.
The Luxembourg-based company said its first quarter core profit (EBITDA) was $1.96 billion, higher than the average forecast in a company poll of $1.81 billion, but lower than a year before.
The production was 1.745 million NT during the week ended April 6, 2024, with a capability utilization rate of 78.6%.
The first market price for Cliffs’ hot-rolled steel was announced on April 26 ($850 per short ton), simultaneously with the opening of the order book for June.
Furthermore, it highlights the importance of conducting thorough incident investigations and implementation of necessary preventive measures.
First Minister Vaughan Gething and Energy and Economy Secretary Jeremy Miles said in a joint statement the Welsh government would continue to argue for a "fairer transition" for workers.