Steelworkers union criticizes Nippon Steel's proposal for lack of long-term commitment By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jan 02 2025
0mins
Source: Investing.com
Union Concerns Over Merger Proposal: The United Steelworkers union criticized Nippon Steel's proposal that allows the U.S. government to veto production cuts, arguing it lacks commitment to long-term production sustainability and domestic capacity enhancement.
Government Decision Pending: The Committee on Foreign Investment in the United States has referred the merger decision to President Biden, who must act by January 7, or the merger will be automatically approved.
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Analyst Views on SID
Wall Street analysts forecast SID stock price to fall over the next 12 months. According to Wall Street analysts, the average 1-year price target for SID is 1.40 USD with a low forecast of 1.40 USD and a high forecast of 1.40 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.
1 Analyst Rating
0 Buy
0 Hold
1 Sell
Moderate Sell
Current: 2.060
Low
1.40
Averages
1.40
High
1.40
Current: 2.060
Low
1.40
Averages
1.40
High
1.40
About SID
Companhia Siderurgica Nacional SA is a Brazil-based company. It operates in five strategic sectors of the economy: steel, mining, logistics, cement and energy. The Company’s steel sector operates across the entire steel production chain, from the extraction of iron ore to the production and sale of a diversified range of steel products including, coated sheets, Galvanized steel, pre-painted steel, metal sheets and long steel products (rebar and wire rod). The mining sector is responsible for the export of iron ore. The cement sector is responsible for the cement production. The logistics sector provides integrated logistics (road, rail, port) services, while the energy sector manages the Thermal Cogeneration Plant installed at Presidente Vargas Steelworks in Volta Redonda and the hydroelectric plants of Itaand Igarapava.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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