9,612.84 TRY BIST 100 BIST 100
37.83 USD USD USD
5.24 CNY CNY CNY
40.78 EUR EUR EUR
0.13 CNY CNY/EUR CNY/EUR
45.53 TRY Interest Interest
73.74 USD Fossil Oil Fossil Oil
34.28 USD Silver Silver
5.09 USD Copper Copper
104.03 USD Iron Ore Iron Ore
356.00 USD Shipbreaking Scrap Shipbreaking Scrap
3,761.14 TRY Gold (gr) Gold (gr)

Cleveland-Cliffs plans to acquire NLMK's US business

Cleveland-Cliffs Inc. is in negotiations with Russia's largest steelmaker Novolipetsk Steel PJSC (NLMK) to acquire its operations in the US Midwest region.

Cleveland-Cliffs plans to acquire NLMK's US business

This potential acquisition is expected to exceed $500 million and is seen as an important step in the company's expansion policies.

These negotiations come after Cleveland-Cliffs' failed attempt to acquire United States Steel. US Steel has a $14.1 billion acquisition agreement with Nippon Steel, a major steelmaker based in Japan. It remains unclear how the negotiations with NLMK will proceed and conclude.

Under the leadership of Cleveland-Cliffs' CEO Lourenco Goncalves, the company took a significant growth step in 2020, acquiring the assets of AK Steel and ArcelorMittal in the United States.

Cleveland-Cliffs' market capitalization has increased by around 19% over the past year and is now valued at around $8 billion. This is a remarkable development compared to NLMK's recently determined market capitalization of $14.7 billion.

Comments

No comment yet.

Only +plus subscribers can access this content.

SUBSCRIBE now to share your thoughts on the markets and get more comments.
SUBSCRIBE If you already have an account Sign In

Most read news

The Far East and the Arctic will participate in the construction of an ice-class fleet

Friday, March 28, 2025

Molan Steel's losses increased in 2024

Saturday, March 29, 2025

South African Steel Producers' call for assistance

Saturday, March 29, 2025

Turkeybuild Istanbul is set to shape the industry

Saturday, March 29, 2025

Ashinsky Plant increased net profit by 45% in 2024

Friday, March 28, 2025
Follow List
Expand
Your watch list is empty

Add your favorite commodities for quick access and don't miss the latest price change news.


There are no news categories you follow
Edit Notification Preferences
E-bulletin subscription
Sign up to receive the latest news and daily iron prices by e-mail and sms
Become a Plus Subscriber Now!
Try it free for 3 days!
Subscribe Now
Neutral Prices
Be informed
Provincial Iron Prices
Comments and Analysis
Subscribe Now