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Latest News

Analysts: Cheap Debt Contributing to Steel's Oversupply

17 November 2015 - Inexpensive credit has allowed unprofitable production to be maintained, supporting the continued glut of steel on the market, according to analysts at financial services firm Macquarie Group.

Some Interest, But No Takers Yet for Tata Steel's European Division

17 November 2015 - Several parties reportedly have expressed interest in Tata Steel’s European long products division, although a deal doesn’t appear to be imminent, according to the Reuters news service.

Big River Steel Continuing to Push Toward 2016 Start-Up

16 November 2015 - The founder of a new U.S. mill has died and the governor who initially supported the project is no longer in office, but the Big River Steel project is continuing to progress toward a planned start-up in late summer or early fall of 2016, reports the weekly business journal Arkansas Business.

World Steel Association Chairman: Europe Has Too Much Steelmaking Capacity

16 November 2015 - Europe has too much steelmaking capacity, and the industry likely will have to lop half of it over the next 15 years, World Steel Association chairman Wolfgang Eder told The (London) Telegraph newspaper.

Global Steel Markets Bottoming Out, Says Mill Executive

16 November 2015 - An executive at Japan’s largest scrap-based steelmaker said the global market is hitting a pricing bottom, arguing that loss-making mills are going to be confronting their commercial limits, according to BloombergBusiness.

Steelmakers Press for Action Against China Imports

13 November 2015 - Unfairly traded steel products exported to North America pose a serious and immediate threat to the industry, the leaders of several steelmakers said on Thursday.

Industrial Cable Manufacturer Finalizes Acquisition, Looks to Grow in Latin America

13 November 2015 - U.S.-based TPC Wire & Cable Corp. has closed on its acquisition of its Mexican distributor, Enersave Wire & Cable, TPC has announced.

Canadian Iron Ore Miner Trims Payroll

12 November 2015 - Canada’s New Millenium Iron Corp., which is sitting one of the world’s largest undeveloped magnetic iron ore deposits, is laying off six full-time employees, about 25 percent of its workforce, the company has announced.

Steel Executive Expects China Production to Decline

12 November 2015 - Chinese steel production probably will fall 10 percent within the next decade, according to Shen Wenrong, chairman of Shagang Group, China’s largest privately owned steelmaker.

Japan's Kobe Steel Plans Capacity Increase at Wire Rod Processing Mill

10 November 2015 - Kobe Special Steel Wire Products Co. Ltd. said it will invest 1.3 billion yen in new pickling equipment and expects to boost capacity by about 40 percent per month.

Grupo Simec Plans to Invest US$600M in New SBQ Mill

10 November 2015 - Mexican special bar quality (SBQ) manufacturer Grupo Simec is planning to build a greenfield mini-mill capable of producing 600,000 tons of SBQ products per year, the company has announced.

EU Steel Summit Yields No Action, But More Discussions

10 November 2015 - European Union ministers agreed they must take steps to protect their steelmakers from the onslaught of imported Chinese steel, but failed to come to terms on a plan for how to do so during a summit meeting held 9 November in Brussels, Belgium.

Tata Launches Steel-Plastic Composite Material

09 November 2015 - Tata Steel has introduced a new composite sheet material that it intends to market to bus and trailer manufacturers.

With Debt Payment Coming Due, Essar Steel Algoma Files for Creditor Protection

09 November 2015 - Canada’s Essar Steel Algoma Inc. has filed for creditor protection under Companies' Creditors Arrangement Act (CCAA), marking its second round of debt restructuring in recent years.

Nucor to Acquire Cold Finish Bar Assets in Ohio and Georgia

09 November 2015 - Nucor Corp. is acquiring two Gerdau Long Steel bright bar facilities for an undisclosed amount, Nucor has announced.

U.S. Trade Commission Affirms Commerce Ruling in Welded Line Pipe Case

06 November 2015 - The U.S. International Trade Commissions has made its final determination in a case involving South Korean and Turkish welded line pipe, affirming that unfairly traded imports from those countries have harmed domestic producers.

Chinese Imports Take a US$711M Toll on ArcelorMittal

06 November 2015 - The world’s largest steelmaker lost US$711 million between July and September -- and about US$1.3 billion through nine months of 2015, the company reported.

U.S. House Passes Partially Unfunded $325B Transportation Bill

06 November 2015 - U.S. House passage of a six-year transportation bill is a step toward giving manufacturers some market certainty, but Congress needs to see it the rest of the way through, American Iron and Steel Institute officials said.

Trade Associations Opposing China's Claims to WTO Market Economy Status

05 November 2015 - Nine steel associations in North America, South America and Europe are jointly opposing China’s attempts to gain World Trade Organization market economy status.

Upgrades on Tap for German BOF

04 November 2015 - Primetals Technologies has won an order from Germany’s Hüttenwerke Krupp Mannesmann GmbH (HKM) to modernize the No. 2 basic oxygen furnace (LD) at the steelmaker’s Duisburg plant, Primetals has announced.

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