Us Steel

Fatal blast at US steel's Clairton plant sparks doubts over its future

The fatal explosion last week at US Steel's Pittsburgh-area coal-processing plant has revived debate about its future just as the iconic American company was emerging from a long period of uncertainty. The fortunes of steelmaking in the US along with profits, share prices and steel prices have been buoyed by years of friendly administrations in Washington that slapped tariffs on foreign imports and bolstered the industry's anti-competitive trade cases against China. Most recently, President Donald Trump's administration postponed new hazardous air pollution requirements for the nation's roughly dozen coke plants, like Clairton, and he approved US Steel's nearly USD 15 billion acquisition by Japanese steelmaker Nippon Steel. Nippon Steel's promised infusion of cash has brought vows that steelmaking will continue in the Mon Valley, a river valley south of Pittsburgh long synonymous with steelmaking. We're investing money here. And we wouldn't have done the deal with Nippon Steel if

Investigation continues into Pennsylvania steel plant blast that killed 2

An explosion at a US Steel plant near Pittsburgh left two dead and sent at least 10 to hospitals Monday and heavily damaged the sprawling facility, officials said. One worker was pulled from the wreckage hours after the explosion sent black smoke spiraling into the midday sky in the Mon Valley, a region of the state synonymous with steel for more than a century. Allegheny County Emergency Services said a fire at the plant started around 10.51 am. Authorities later said a second person had died. The explosion, followed by several smaller blasts, could be felt in the nearby community and prompted county officials to warn residents to stay away from the scene so emergency workers could respond. It felt like thunder, Zachary Buday, a construction worker near the scene, told WTAE-TV. Shook the scaffold, shook my chest, and shook the building, and then when we saw the dark smoke coming up from the steel mill and put two and two together, and it's like something bad happened. **Cause unde

Explosion at US Steel plant in Pennsylvania leaves 1 dead, dozens hurt

An explosion on Monday at a US Steel plant near Pittsburgh has left dozens wounded and people trapped under the rubble, with emergency workers on site trying to rescue them, officials said. There are no confirmed fatalities at the Clairton Coke Works, said Abigail Gardner, director of communications for Allegheny County. The Allegheny County Emergency Services said a fire at the plant started around 10:51 am and that it has transported five people. The agency did not provide any more details on those people transported and would only say it was an active scene. The plant, a massive industrial facility along the Monongahela River south of Pittsburgh, is considered the largest coking operation in North America and is one of four major US Steel plants in Pennsylvania that employ several thousand workers. In recent years, the Clairton plant has been dogged by concerns about pollution. In 2019, it agreed to settle a 2017 lawsuit for $8.5 million. Under the settlement, the company agreed

Nippon steel acquires US steel for $14.9 bn with Trump-backed deal

Under the deal terms, Nippon bought 100% of US Steel shares at $55 per share, as it first laid out in its December 2023 offer for the well-known but struggling steelmaker

Nippon Steel investors weigh costs of $14 bn US Steel acquisition win

The first concern will be financing, necessary to fund both the all-cash acquisition and the promised investments, which range from upgrades to existing plants to a new steel mill

US Steel's $14.1 bn sale to Nippon set to close after Trump's agreement

As part of the $55-per-share deal, the Japanese company will invest an additional $11 billion by 2028, including an initial commitment in a greenfield project that would be completed after 2028

Trump to hold rally for Nippon in Pennsylvania as it partners with US Steel

President Donald Trump is holding a rally in Pennsylvania on Friday to celebrate a details-to-come deal for Japan-based Nippon Steel to invest in US Steel, which he says will keep the iconic American steelmaker under US-control. Though Trump initially vowed to block the Japanese steelmaker's bid to buy Pittsburgh-based US Steel, he changed course and announced an agreement last week for what he described as partial ownership by Nippon. It's not clear, though, if the deal his administration helped broker has been finalized or how ownership would be structured. Trump stressed the deal would maintain American control of the storied company, which is seen as both a political symbol and an important matter for the country's supply chain, industries like auto manufacturing and national security. Trump, who has been eager to strike deals and announce new investments in the US since retaking the White House, is also trying to satisfy voters, including blue-collar workers, who elected him as

President Trump's backing for a Nippon steel deal leaves big questions

Donald Trump heralded a planned partnership between the two industrial heavyweights, claiming it would create at least 70,000 jobs - roughly five times US Steel's current American employees

Trump signals approval of Nippon deal, US Steel to Stay in Pittsburgh

President Donald Trump said on Friday that US Steel will keep its headquarters in Pittsburgh as part of what he called a planned partnership that seemed to signal that he'll approve a bid by Japan-based Nippon Steel to buy the iconic American steelmaker. Still, Trump's statement left it vague as to whether he is approving Nippon Steel's bid after he vowed repeatedly to block it. But investors seemed to take it as a sign that he would approve it, sharply pushing up US Steel's shares. Nippon Steel's nearly USD 15 billion bid to buy US Steel was blocked by former President Joe Biden on his way out of office and, after Trump became president, subject to another national security review by the Committee on Foreign Investment in the United States. Trump said in a statement that after much consideration and negotiation, US Steel will REMAIN in America, and keep its Headquarters in the Great City of Pittsburgh. What Trump called a planned partnership will create at least 70,000 jobs and ad

India offers tariff-free access to US steel, auto parts in trade talks

The two nations are prioritizing certain sectors to strike an early trade deal before the end of the 90-day pause on US President Donald Trump's tit-for-tat tariffs

Ancora ends US Steel campaign after Trump orders review of Nippon Steel bid

The investor, which recently unveiled a plan that could deliver a cash offer of $75 per share, has said it had no intention of standing in the way of the $55 per share Nippon deal

Donald Trump announces Hyundai's $5.8 billion US Steel investment

He emphasised the significance of the move, calling Hyundai "one of the largest companies in the world" and highlighting that the steel mill will supply Hyundai's auto plants in Alabama and Georgia

Nippon Steel to start talks with US Commerce Dept over US Steel bid: Prez

The Japanese company's previous merger agreement with US Steel, blocked by the administration of former President Joe Biden, will serve as a starting point for discussions, Prez Imai said

Nippon Steel considering 'bold' revision to US Steel buyout, says official

Nippon's pursuit of US Steel has stretched on for more than a year, with Trump condemning the proposal on numerous occasions

US Steel will get investment from Nippon, instead of being bought: Trump

President Donald Trump on Friday suggested that Nippon Steel would no longer buy U.S. Steel as planned, but the Japanese company would instead invest in the symbolically important American business. The U.S. president mistakenly referred to Nippon Steel as Nissan, the Japanese automaker. But it's Nippon Steel's bid that generated controversy as both Trump and his predecessor in the White House, Joe Biden, vowed to block the merger. Nippon Steel is going to be doing something very exciting about U.S. Steel, Trump said at a news conference with Japanese Prime Minister Shigeru Ishiba. They'll be looking at an investment rather than a purchase. It was unclear what the details of the investment would be, but Trump said he would meet with the head of Nippon Steel next week and he would be involved to mediate and arbitrate. Ishiba described the investment as mutually beneficial and said Japanese technology would be provided to U.S. Steel mills. Nippon Steel in December 2023 made what was

Donald Trump meets US Steel CEO to discuss deal with Nippon Steel

A $14.9 billion bid for US Steel by Nippon Steel was blocked last month by former President Joe Biden

US extends deadline on Nippon's bid for US Steel, keeping deal hopes alive

The bid by Japan's Nippon Steel to buy US Steel may have a new lease on life after the Biden Administration extended a deadline for the Japanese steelmaker to abandon plans to acquire the storied Pittsburgh company after President Joe Biden blocked the deal. The new deadline, now in mid-June, was viewed by US Steel and investors as an opportunity for the companies to complete the acquisition, even though President-elect Donald Trump, who takes office in a week, also opposes the deal. Biden nixed the acquisition this month citing a potential threat to national security, though the US Committee on Foreign Investment in the United States, known as CFIUS, failed to reach a consensus on the security issue. We are pleased that CFIUS has granted an extension to June 18, 2025 of the requirement in President Biden's Executive Order that the parties permanently abandon the transaction," US Steel said in a statement Sunday. "We look forward to completing the transaction, which secures the be

Blinken on Japan visit as Nippon Steel decision weighs on relations

Ahead of his trip, the State Department said that Blinken wanted to build on the momentum of US-Japan-South Korea trilateral cooperation

US Steel, Nippon move court against Biden blocking $14.9 billion deal

Second lawsuit is against Cleveland-Cliffs, its CEO Lourenco Goncalves, and USW union President David McCall "for their illegal and coordinated actions" aimed at preventing the deal

Rise of US Steel paralleled arrival of United States on world stage

President Joe Biden blocked the USD 15 billion acquisition of US Steel by Japan's Nippon Steel on Friday something he had first vowed to do in March. His decision comes after the Committee on Foreign Investment in the United States, known as CFIUS, failed to reach consensus on the possible national security risks of the deal last month. The rise of US Steel, a storied American company, runs parallel to the arrival of America on the world stage. With roots dating to the late 19th century, US Steel has produced the materials used for everything from the nation's bridges and skyscrapers, to its tanks and battleships. Following is a brief history of the company. The origins of a manufacturing giant What eventually became the largest corporation in the world was created by J.P. Morgan and others who financed the merger of Andrew Carnegie's Carnegie Steel Co. with rival Federal Steel at the start of the 20th century. It instantly became the world's first USD 1 billion company. In 1907