Steel News

We strive to let you one step ahead of the market.

Canadian Stelco may bid for US Steel acquisition

23 Sep 2023 17:22 reported by Judy Lin

A A A
According to a report, Canadian steelmaker Stelco Holdings Inc. is reportedly to become a potential bidder for US Steel. Stelco used to be a subsidiary of US Steel from 2007 to 2016. Although it has not offered a formal bid yet, it has already held a conservation with the potential partner.

US Steel reported to have received the bid for a possible acquisition. The best potential bidder was Cleveland-Cliffs, which has support from the United Steelworkers union.

Esmark Inc. from Pennsylvania also offered a bid in August, but it withdrew it later. Besides, ArcelorMittal was reported to consider offering a bid in late August.

Stelco has also reported that it is looking to acquire all of US Steel’s assets to add more to its portfolio and increase its market share in the automotive industry.

Back to Steel News

Related News

POSCO aims to produce all steel through hydrogen technology by 2050

  • Industry activities
  • 1 Dec 2023 16:51

EUROFER: EU's steel decarbonization effort might be impacted if global steel agreements don't reach

  • Industry activities
  • 1 Dec 2023 16:46

Turkey's steel capacity utilization decreases in Jan-Oct y-o-y

  • Industry activities
  • 1 Dec 2023 16:41

Czech Liberty Ostrava receives creditor protection, prepares to restructure

  • Industry activities
  • 1 Dec 2023 16:39

U.S. Steel to shutter steelmaking operations at Granite City

  • Industry activities
  • 30 Nov 2023 13:38

Metal Price Index

Learn more

LME Official Bid Price

  • Zinc
  • 2,477.00
  • 2,482.00
  • Aluminum
  • 2,157.00
  • 2,197.00
  • Copper
  • 8,331.00
  • 8,419.00
  • Nickel
  • 16,330.00
  • 16,560.00

Learn more

Coil Exchange Center

  • 2B Coil-Jan
  • 2,460
  • 2,320
  • NO1 Coil-Jan
  • 2,430
  • 2,290
  • 2B Coil-Jan
  • 2,460
  • 2,320
  • NO1 Coil-Jan
  • 2,430
  • 2,290

Learn more