U.S Steel Corp ($X) Enters Bidding War...

U.S Steel Corp surprisedly enters a bidding war for components of its company and assets. This move has come as a shocker to local steel workers, but from a global aspect it represents change within the industry as a whole. The price of steel is currently down from all-time highs amid economic slow-down in China, but demand still lingers. Demand from the auto industry is expected as automakers request steel for EV manufacturing.

Aside from the steel industry, U.S Steel faces a larger nemesis within its courts; United Steelworkers Union. The union's organized bid from Cleveland-Cliffs Inc was recently rejected by U.S Steel as steel companies push for mergers and acquisitions to compete with an eminent global slowdown. Either way, U.S Steel sits in a binding situation as a large percentage of its employees reside within the Union. This is following a year long standoff with the United Steelworkers Union to strike a deal (agreement). An employee-strike from the Union could be a major blow to the steelmaker forcing them to be acquired by a Union-backed competitor.

We could see further volatility with this U.S Steel Corp stock price ($X) as bids from other competitors come to across the table. Further slowdown in Asia and emerging markets could send the futures price of steel to lower levels. Let's see how the 🎲 roll.