America’s steelmakers forge a future together

Cleveland-Cliffs has made a $7.3 billion offer for US Steel, highlighting the decline of legacy steelmakers and the rise of mini-mills that use electric-arc furnaces, which are greener and more profitable. US Steel may have to embrace new technologies or consider consolidation in order to compete.

economist.com

Relevant topic timeline:

8/24/2023

Behind nixed $7.8 billion US Steel deal, a familiar name in Chicago biz

US Steel Corp. is reviewing takeover proposals from multiple parties, including a rejected offer from domestic rival Cleveland-Cliffs Inc., and a higher, all-cash proposal from steel distributor Esmark Inc., which has since withdrawn its pursuit due to the United Steelworkers union's support for Cliffs.

8/30/2023

Union Negotiations Are Heating Up. Investors Shouldn’t Sweat It.

Labor negotiations between Cleveland-Cliffs and the United Steelworkers, as well as the ongoing talks between the United Auto Workers and the Detroit Three automakers, present buying opportunities for investors, despite concerns over potential strikes and rising labor costs.

8/30/2023

Cleveland-Cliffs, USW union reach tentative labor agreement

U.S. steel producer Cleveland-Cliffs Inc has reached a tentative agreement with the United Steelworkers union on a new 3-year labor agreement for its Northshore mining operations.