U.S. Steel

Nippon Steel has sent the White House a new proposal on U.S. Steel, attempting to get the green light from President Joe Biden to acquire the American company, a U.S. media report said Tuesday.

The proposition involves giving the U.S. government a veto over reducing U.S. Steel's production capacity, reported The Washington Post.

United States Steel has warned it could shut its headquarters and factories in Pennsylvania, a key swing state in November's election, if a takeover by Japan's Nippon Steel is blocked.

At a rally in downtown Pittsburgh, backers of the deal touted the transaction as a lifeline to one of western Pennsylvania's defining industries.

United States Steel Corp. has said that it rejected a $7.3 billion buyout proposal from rival Cleveland Cliffs and was reviewing "strategic alternatives" after receiving several unsolicited offers.

Pittsburgh-based U.S. Steel said it rejected the offer because Cleveland-Cliffs was pushing it to accept the terms without being allowed to conduct proper due diligence.

Insajder reported on Monday that Serbia agreed to pay 340,000 euros a month, plus hefty bonuses, to the Dutch-based HPK Engineering BV, according to a contract that the government signed in March 2015 and has refused to disclose to the public ever since.

They discussed the Smederevo steel mill operations and the company's plans for next year, Tanjug reported, citing a statement from the Presidency.

Yu said that the Smedervo-based plant had revenues of over USD 750 million in 2017 - 300 million more than last year, while producing 1.5 million tons of steel, with overall investments reaching USD 160 million.

American steel industry executives have appealed directly to President Donald Trump for immediate import restrictions in a letter seen by Reuters, as a U.S. Commerce Department national security probe languishes and steel imports surge back to 2015 levels. 

Prime Minister Aleksandar Vucic has received CEO of Zelezara Smederevo steelworks Hesteel Serbia Sihai Song.

According to the Serbian government, the meeting was also attended by Ambassador of China to Serbia Li Manchang.

A Chinese bank has approved a USD 600 million loan to He Steel for current assets and investment in the Zelezara Smederevo steel mill, its recent acquisition.

This has been reported by the Belgrade-based Politika daily.

BELGRADE - He Steel Group Chairman Yu Yong on Saturday expressed hope that the Smederevo steel mill will maximise its output capacity by the end of 2017, making it around 2 million tons of steel.

The Serbian Ministry of Economy has published the contract on the sale and purchase of the Zelezara Smederevo steel mill by China's Hesteel.

The document was signed on April 18 by representatives of the Serbian government and the Chinese company.