01
Oct
14:14
Cleveland buy could offset Steelmageddon: Bank of America
Cleveland-Cliff’s looming $1.4 billion buy of ArcelorMittal USA could partially mitigate the oversupply crisis dubbed “Steelmageddon,” according to a Bank of America research note by analyst Timna Tanners.
Steelmageddon could be averted if Cleveland-Cliffs shutters some of its new assets, Tanners writes. The deal is expected to close during the fourth quarter, Kallanish notes.
"We estimate 10-14 million tonnes of sheet/plate supply wo…
This article contains premium data.
It is only available for active subscribers and clients currently
on trial. To continue reading, see the options below.
on trial. To continue reading, see the options below.
Truly global, user-friendly coverage of the steel and related markets and industry that delivers the essential information quickly while delivering on most occasions just the right amount of between-the-lines comment and interpretation for a near real time news service of this kind.
Anonymous
Very good overview of the weekly steel market.
Anonymous