Photographer: Sean Gallup/Getty Images --
The US steel industry has been dominated this year by Nippon Steel Corp.’s proposed takeover of United States Steel Corp., the country’s largest producer. The $14.1 billion deal, which has become a hot political issue following opposition from President Joe Biden and union workers, is driven by the Japanese company’s optimism of more growth within the US.
The Federal Reserve’s signaling of rate cuts as soon as September lifts the prospects of a turnaround for sectors that rely on steel.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
South Africa South Africa Latest News, South Africa South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
US Steel Industry Sees Economy Reviving Demand in 2025(Bloomberg) -- American steel executives say they’re optimistic that demand for the industrial material will rebound next year, recovering from the...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
China Puts Brake on New Steel Plants With Industry in Crisis(Bloomberg) -- China has abruptly suspended its system for approving new steel plants, as the government responds to a deep demand slump that’s crushed...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
China Slashes Steel Output as Industry Rings Alarm on Demand(Bloomberg) -- Chinese steelmakers slashed output last month as woeful demand forced steep cuts on an industry contending with a collapse in margins.Most...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »
World’s Top Steel Producer Warns of ‘Severe’ Industry Crisis(Bloomberg) -- China’s steel industry is facing a crisis more serious than the downturns of 2008 and 2015, the world’s biggest producer warned, highlighting ...
Source: YahooFinanceCA - 🏆 47. / 63 Read more »