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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
Citing Softening Demand, ArcelorMittal Furloughs Italian Workers
06 June 2019 - ArcelorMittal Italia is temporarily laying off approximately 1,400 workers amid weakening demand and heightened competition from imported steel, the company has announced.
China Iron & Steel Association Urges ‘Rational’ Output
04 June 2019 - The China Iron and Steel Association is calling for restraint as mills produce at record levels amid concerns over slowing demand, the Reuters news service reports.
ArcelorMittal Announces New Production Cuts
29 May 2019 - The world’s largest steelmaker on Wednesday announced new production curtailments in Europe, citing weak demand and competition from imports.
EUROFER: Imports, Soft Demand Forecast Pressure European Steelmakers
08 May 2019 - EU steelmakers are being squeezed as a safeguard measure has been ineffective in stopping a wave of imported steel deflected from the U.S. market, reports the European Steel Association.
Major Chinese Steelmaker Sees Slowing Demand on the Way
25 April 2019 - Baoshan Iron & Steel Co., the listed portion of China’s largest steelmaker, sees both slowing domestic demand and rising output this year, leading some to question whether mills will again ship excess production into foreign markets and flood them, according to news reports.
2019 Could Be a Milestone Year for Indian Steel Consumption
11 April 2019 - India’s domestic steel demand is expected grow more than 7% this year and is likely to cross the 100 million metric ton threshold, according to The (India) Economic Times.
Fortescue CEO Sees Chinese Steel Production Rising This Year
11 April 2019 - China’s crude steel production potentially could grow to more than 950 million metric tons this year, according to the chief executive of iron ore miner Fortescue Metals Group.
Chinese Mills Should Throttle Back Production, Industry Official Says
01 April 2019 - The chairman of the China Iron & Steel Association is calling for domestic mills to restrain production as output rises despite that the country’s economy appears to be cooling.
Nucor, SDI Annouce First-Quarter Earnings Guidance
21 March 2019 - Nucor Corp. and Steel Dynamics Inc. said they each expect that lower earnings in their sheet mill operations will impact first-quarter profits.
Joint Venture Marks Start of Construction on New Service Center
08 March 2019 - Georgia-based Pacesetter Steel Service Inc. and a subsidiary of Japan’s Nippon Steel & Sumitomo Metal Corp. have broken ground on a 130,000-square-foot service center in Houston, Texas.
North Star BlueScope Nears Decision on Major Expansion
25 February 2019 - North Star BlueScope Steel expects to make a final decision on whether to expand its Ohio sheet mill sometime in the second half of this year, but appears ready to move ahead.
Commerce Department Completes Section 232 Investigation into Foreign Auto Imports
18 February 2019 - The U.S. Department of Commerce has sent the results of its Section 232 investigation into automotive imports to President Donald Trump.
After Long Delay, Tube Maker to Begin Production at Texas Sucker Rod Plant
14 February 2019 - Tenaris said it plans to open its US$70 million sucker rod manufacturing plant in Conroe, Texas, USA, this summer.
U. S. Steel to Resume Fairfield EAF Installation
11 February 2019 - United States Steel Corporation will resume construction on the planned electric arc furnace at its Fairfield, Ala., USA, steel plant, the company said Monday.
ArcelorMittal Profits Up, But Sees Slower Growth Ahead
07 February 2019 - The world’s largest steelmaker recorded its largest full-year profit in nearly 10 years, but is forecasting that demand growth will slow in the U.S. and Europe and contract in China.
Seeing Improved Demand, U. S. Steel to Restart Idled Pipe Mill
05 February 2019 - United States Steel Corporation said on Monday that it is reactivating a Texas pipe mill and hiring 140 people.
Republic Steel Targets Q2 Restart of Lorain Bar Mill
23 January 2019 - Special bar quality (SBQ) maker Republic Steel is planning to restart its small bar rolling mill at its Lorain, Ohio, USA, plant in the second quarter, the company has announced.
India to Outpace U.S. Steel Consumption in 2019, Says Steel Minister
23 January 2019 - India is on track to overtake the United States in steel consumption this year, according to India Steel Minister Chaudhary Birender Singh.
GFG Alliance Completes Deal for U.S. Wire Rod Manufacturer
03 January 2019 - GFG Alliance has finalized its US$320 million acquisition of Keystone Consolidated Industries (KCI), a move that will help clear the way for a planned initial public offering, the company has announced.
Despite Uncertain Times, There's Still a Place for Port Talbot Works, Tata Steel Executive Says
03 January 2019 - Tata Steel Europe head Hans Fischer said he believes there is a future for the United Kingdom’s largest steel works, even after the country leaves the European Union, but cautioned that more work is needed to turn around the integrated facility.
