Biden decides to block U.S. Steel sale to Japanese buyer

[Deminpenn]

10. Big, big mistake

US Steel doesn't want to run the Mon Valley plants. They don't want to upgrade them. They want to be rid of them.

The local speculation is that Cleveland Cliffs, an Ohio-based steel producer whose bid for the plants was rejected by USS Steel and which is behind the effort to tank the Nippon Steel bid, doesn't plan to keep the plants operational either. Cleveland Cliffs can make more money by closing the plants to increase US steel scarcity and increase prices.

The Mon Valley towns have been economically struggling for decades. When, not if, US Steel closes the plants and leaves, these towns will be devastated.