BRUSSELS (Reuters) -The European Commission proposed on Tuesday cutting tariff-free steel import quotas by almost half and a 50% duty for excess shipments in a bid to preserve viable steelmaking in the European Union. Due to rising imports and U.S. tariffs, EU steel producers are operating at only 67% of capacity and the new measures, in line with those reported by Reuters last week, are designed to push that up towards 80%. EU steel is currently protected by safeguards that cap imports of 26 steel grade ...

The EU is doubling its tariffs on steel imports to 50% and slashing quotas as it grapples with a glut of cheap imports https://t.co/QjQQyajtYW ...

CLEVELAND--(BUSINESS WIRE)--Cleveland-Cliffs Inc. (NYSE: CLF) ("Cliffs†) announced today that it intends to offer to sell, subject to market and other conditions, an additional $200 million aggregate principal amount of Senior Unsecured Guaranteed Notes due 2034 (the "Additional Notes†) in an offering (the "Additional Notes Offering†) that is exempt from the registration requirements of the Securities Act of 1933 (the "Securities Act†). The Additional Notes will be an issuance of Cliffs' existi. ...

Over the course of this year, the Trump administration has built a portfolio of strategic corporate holdings, with direct ownership stakes in several major companies.The strategy appears to largely revolve around securing critical supply chains in semiconductors, rare earths, lithium, and steel.More precisely, Washington now owns 10% equity stake in Intel (NASDAQ: INTC), 15% in MP Materials (NYSE: MP), 10% in Lithium Americas (NYSE: LAC), and 10% in Trilogy Metals (NASDAQ: TMQ).In addition, the government o ...

In a significant shift in U.S. industrial policy, the Donald Trump administration has acquired direct ownership stakes in five major publicly traded companies. This series of interventions, framed as a national security strategy, marks a new era of government involvement in key industries to secure domestic supply chains for semiconductors, critical minerals, and steel.Trump Administration’s New PortfolioThe government’s acquisitions include a 10% stake in semiconductor giant Intel Corp. (NASDAQ:INTC), a 15 ...

Many investors see U.S. trade tariffs as a hurdle to business growth; however, some are benefiting domestic firms in the basic materials sector. These tariffs boost local production and support a broader onshoring trend. President Trump advocates for onshoring industries like autos, semiconductors, and data centers in the U.S. While it might seem limited to big tech firms, this shift creates significant opportunities in the steel industry, crucial for expanding domestic capacity. This is exactly where share ...

Like Pittsburgh, the South Korean city of Pohang is synonymous with steelmaking. Its struggling local industry has been hit hard by U.S. levies. ...

ABOUT METALLUS INC. Metallus (NYSE: MTUS) manufactures high-performance specialty metals from recycled scrap metal in Canton, OH, serving demanding applications in industrial, automotive, aerospace & defense and energy end- markets. The company is a premier U.S. producer of alloy steel bars (up to 16 inches in diameter), seamless mechanical tubing and manufactured components. In the business of making high-quality steel for more than 100 years, Metallus' proven expertise contributes to the performance of ou ...

It seems that the European Union is fighting back when it comes to steel tariffs. They've raised their own levies to 50%. Is this the sort of escalation that precedes negotiation when you're dealing with President Trump.I mean, you know, I think that that's a fair argument there. You know, I mean, if you're looking potentially at sort of how other nations or other blocs and such have kind of tried to approach these types of tariffs, I mean, look at China, for example, which is kind of raising its own. What ...

Mumbai: German steelmaker Thyssenkrupp has called off its joint venture plan with Czech billionaire Daniel Kretinsky’s EP Group, as it considers rival suitor Naveen Jindal’s acquisition offer. Both EP Group and Thyssenkrupp AG “mutually agreed" to end the discussions on the possible equal joint venture for Thyssenkrupp Steel Europe, according to a joint statement. “EPG respects Thyssenkrupp AG's preference to concentrate on discussions with Jindal Steel International about its submitted indicative bid for ...