U.S. Steel Corp., the country’s largest producer of the metal by volume, reported first-quarter earnings that exceeded analysts’ estimates after falling natural-gas prices lowered costs at blast furnaces.
U.S. Steel Corp. , the country’s largest producer of the metal, rose the most in four weeks and bullish option trading jumped to a record on speculation that ArcelorMittal may be looking to purchase the company.
GrafTech International Ltd. agreed to acquire C/G Electrodes LLC and the 81 percent of Seadrift Coke LP it didn’t already own for a combined $692 million to expand its access to raw materials. The shares rose the most in more than 18 months.
Gerdau SA , the largest Brazilian steelmaker, said it plans to buy the shares it doesn’t already own of U.S. unit Gerdau Ameristeel Corp. for about $1.7 billion to gain greater control over its North American operations.