Stock News | Market Tamer Stock and Options Training

A group representing major automakers on Tuesday said the industry opposes steelmaker Cleveland-Cliffs' proposed acquisition of U.S. Steel , saying it would increase auto industry costs and slow electric vehicle sales. The Alliance for Automotive Innovation, representing General Motors, Toyota Motor, Volkswagen, Hyundai and other major automakers, in a letter to Congress and U.S. regulators cited the combined steel companies' dominant market share for steel used to produce vehicle structural frames, for automotive surface panels like doors, hoods and fenders, as well as steel used for electric vehicle (EV) motors. The letter from Alliance for Automotive Innovation CEO John Bozzella said a merger would "increase costs across the industry for both materials and finished vehicles," and noted 100% of the metal for EV motors known as e-steel would be concentrated in the combined company.

U.S. Steel Needs to Pump Up the Volume (Like All the Way to X)

U. S. Steel Pioneers Battery-Powered Locomotives, Reinforces Commitment to Sustainability and Community

Is United States Steel (X) Stock Undervalued Right Now?

United States Steel Corporation (X) Hit a 52 Week High, Can the Run Continue?

U. S. Steel’s Operations in Pennsylvania Generated $3.6 Billion in Economic Impact

United States Steel Corporation (NYSE:X) Q3 2023 Earnings Call Transcript

Q3 2023 United States Steel Corp Earnings Call

U.S. Steel, Charter, Taylor Swift at AMC: Top Stocks

U.S. Steel Projects Profits for 2024 as Bidders Circle

United States Steel (X) Q3 2023 Earnings Call Transcript

U.S. Steel CEO notes 'serious interest from many highly credible bidders'