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Economy & Markets
The latest on the economy's health and the markets driving the supply and demand of steel.
Latest News
Report: Salzgitter to Idle Blast Furnace
28 October 2019 - Germany’s Salzgitter AG has become the latest European steelmaker to curtail production on account of the market downturn , reports commodities news and pricing provider Argus Media.
EAFs May Dominate in the U.S., But They Can’t Yet Replace BFs, Says Iron Ore Executive
23 October 2019 - Fears that U.S. blast furnaces face imminent extinction are “totally unrealistic,” the top executive at iron ore miner Cleveland-Cliffs Inc. said Wednesday.
Report: Tata Steel Plans to Cut 2,500 Jobs in Europe
23 October 2019 - Tata Steel Europe reportedly will eliminate 2,500 jobs in an effort to reduce costs in its European operations, India’s Business Standard newspaper reports.
U. S. Steel Idles Production Line at Minnesota Pellet Plant
22 October 2019 - United States Steel Corporation is idling a pellet line at its Minntac taconite plant in Mountain Iron, Minn., USA, on account of softening demand, reports The (Minneapolis, Minn.) Star Tribune newspaper.
World Steel Association: Global Steel Demand Up, But Declining in Most Regions
17 October 2019 - The World Steel Association has revised down its biannual demand forecast for most of the world’s regions, but is nevertheless projecting demand to rise globally on the strength in the Chinese construction market.
Midrex to Open New Location in Dubai
10 October 2019 - Over the last decade, the Middle East and North Africa (MENA) region has been home to some of the largest, most technologically advanced MIDREX® plants.
Chinese Scrap Imports Fall in August – to Zero
24 September 2019 - China in August did something it has not done at any time in the last 19 years – it did not import any scrap steel, a sign that the world’s largest steel-producing country could soon become a net exporter of scrap, reports the Bloomberg news service.
Nucor, SDI Say Lower Steel Prices Likely to Weigh on Q3 Profits
18 September 2019 - Steel Dynamics Inc. and Nucor Corp. are forecasting lower third-quarter profits on account of declining steel prices.
This Building Has No Rebar. But It Has Plenty of Steel.
10 September 2019 - A newly constructed 58-floor skyscraper in Seattle has been completed using a unique core wall system with no conventional rebar, reports the trade publication Concrete Products.
Tata Steel to Close U. K. Steel Mill
03 September 2019 - Unable to find a buyer for its Orb Electrical Steels operation in South Wales, and unwilling to roll the dice on a substantial upgrade, Tata Steel Europe will instead close the facility, the company has announced.
Import Pressure Forces ArcelorMittal, U. S. Steel to Reduce Tinplate Output
27 August 2019 - Citing competition from low-cost imports, United States Steel Corporation and ArcelorMittal USA are throttling back tinplate production, reports The Times newspaper of northwest Indiana.
JSW Steel USA Halts Construction on Baytown Expansion
22 August 2019 - JSW Steel USA has put their expansion plans for their Baytown, Texas., USA, steel works on hold, reports S&P Global Platts.
Imports, Lower Prices Weigh on ArcelorMittal in Q2
01 August 2019 - ArcelorMittal recorded a US$447 million loss in the second quarter and said it planned to divest US$2 billion in assets over the next two years.
At 2019's Midpoint, the World's Crude Steel Production Is Up. Here’s How Much.
30 July 2019 - With Asia leading the way, global crude steel production rose 4.9% through the first half of 2019, according to new numbers from the World Steel Association.
ArcelorMittal Reconsiders Hot End Idling at Polish Mill
29 July 2019 - ArcelorMittal Poland said it will postpone the planned idling of the Krakow plant’s hot end as it re-evaluates its plans.
Nucor Still Bullish on 2019
20 June 2019 - Although U.S. steelmakers might not be experiencing the degree of activity that came with the 2018 boom, the steel industry’s momentum nevertheless has carried forward, and 2019 should prove to be a solid year, said Nucor chairman and chief executive John Ferriola.
Softening Demand Forces U. S. Steel to Idle Blast Furnaces
19 June 2019 - United States Steel Corporation is idling three blast furnaces — two in the U.S. ¬— on account of receding demand.
Millett: Recent Mill Investments Will Help Keep Industry Competitive
18 June 2019 - Steel Dynamics Inc. chief executive Mark Millett swatted down criticisms of the U.S. steel industry’s recent spate of capital investments, saying that revitalizing assets and implementing new technologies is critical to surviving in a global marketplace.
Jindal: Urbanization Will Generate Big Growth in Indian Steel Demand
18 June 2019 - India will need more than 300 million tons of steelmaking capacity to support a forecasted rise in steel demand over the decade, said JSW Steel chairman and managing director Sajjan Jindal.
Steel Industry Could See Uptick in Mergers
13 June 2019 - Senior steel executives remain optimistic about their prospects for near-term growth and are looking to mergers and acquisitions as a key driver of that growth, according to an annual survey from corporate finance and strategic advisory firm Headwall Partners.
