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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
Global Steel Demand Predicted to Rise This Year
16 October 2018 - Worldwide steel demand is expected to grow 3.9% this year on the underlying health of developed and emerging economies, according to the World Steel Association.
How's Business? Very Good, U.S. Manufacturers Say
08 October 2018 - Buoyed by favorable polices and global economic health, U.S. manufacturers overwhelmingly say they are optimistic about the prospects for their businesses.
China Steel Executive Expects to See Iron Ore Demand Flatten Due to Scrap Displacement
21 September 2018 - China bought more than 1 billion metric tons of iron ore last year, but demand will likely plateau as a governmental push to reduce pollution drives a conversion in production routes, the Reuters news service reports.
Cleveland-Cliffs Expects Heavier Iron Ore Pellet Sales
23 July 2018 - Iron ore miner Cleveland-Cliffs Inc. has revised up its full-year sales forecast, saying that it now expects to sell 21 million long tons’ worth of pellets on account of healthy demand.
Revised CAFE Standards Probably Won't Hurt Demand for Auto Steel
25 June 2018 - The Trump administration’s proposal to roll back the 2025 vehicle fuel economy standards likely won’t have a significant impact on the market for lightweight automotive steels, according to a Nucor Corp. official.
Chinese Mills Begin Beefing Up Scrap Infrastructure
18 May 2018 - As China’s electric arc furnace capacity rises, Chinese steel mills are subsequently investing in scrap processing equipment, reports the Reuters news service.
Shares of Chinese Steelmakers Notch Down on Expectations of Rising Output
14 May 2018 - Rising production and falling steel prices have taken some of the financial sparkle off of China’s iron and steel industry, which had been benefiting from healthy demand and mill closures, reports the Bloomberg news service.
Danieli Sees Continuing U.S. Investment
09 May 2018 - For Italian equipment manufacturer Danieli, stable steel consumption in Europe and the U.S. is leading to contracts for upgrades and modernizations. However, conditions haven’t been right for expansive, capital-intensive projects, said Danieli board chairman Gianpietro Benedetti.
Section 232 Tariffs Jeopardize European Steel Recovery, EUROFER Says
08 May 2018 - New investment and steel exports helped support healthy steel demand in the EU last year, but the U.S. Section 232 tariffs potentially could offset the gains, according to the European Steel Association (EUROFER).
Report: Investors Hope to Bring Mill to Southern Florida
06 May 2018 - A group of local investors are trying to establish an electric arc furnace-based mill in southeastern Florida, the Miami Herald reports.
Looking to the Future, Tenaris to Consider Texas Expansion
03 May 2018 - Tenaris is ramping up its new seamless tube mill in Texas, but might eventually look to expand to the operation, reports the Houston Chronicle’s FuelFix blog.
Don't Count the Blast Furnace Route Out, Says ArcelorMittal Executive
26 April 2018 - Even though scrap-based steelmaking is growing, demand for steel's basic raw materials – coking coal, coke and iron ore – will be supported by new blast furnace capacity in some parts of the world, an ArcelorMittal executive said.
Here's How Much the World Steel Association Expects Demand to Grow This Year
18 April 2018 - Momentum in the global economic recovery is forecasted to lift worldwide steel demand by 1.8% this year, according to the World Steel Association.
Consultant: New Oil, Gas Wells Will Be Plentiful, Deeper and Steel Intensive
20 March 2018 - U.S. oil and gas exploration companies are forecast to drill around 16,000 new wells annually over the next five years, supporting demand for oil country tubular goods and line pipe, according to S&P Global Platts consultant Nicole Leonard.
TMK IPSCO Launches IPO, Aims to Raise More than US$465M
30 January 2018 - The American arm of Russian tubemaker PAO TMK has launched its initial public offering at US$20 to US$23 per share.
Mittal: Steel May See Better Times Over the Next Several Years
01 December 2017 - The steel industry recovery might be a “multiyear phenomena,” ArcelorMittal chief financial officer Aditya Mittal tells Bloomberg news service.
Healthier Markets Push Up Gerdau's Q3 Profits
13 November 2017 - Rising shipments and increased and sales, along with a companywide effort to reduce costs, lifted Gerdau SA’s third-quarter profits by 53%, the company reported.
Improved Market Lifts ArcelorMittal's Q3 Profits
10 November 2017 - The world’s largest steelmaker saw its third-quarter profits rise 75% on higher sales and shipments, ArcleorMittal reported on Friday.
Accumulating Scrap in China Could Reduce Demand for Coal, Coke
09 November 2017 - China’s scrap reservoir could more than double over the next eight years and enable a rise in electric arc furnace steelmaking – and drive a reduction in iron ore, coal and coke demand, according to Joseph Poveromo, president of Raw Materials & Ironmaking Global Consulting.
Imports Dampen Nucor Earnings
20 October 2017 - Nucor Corp. saw its third-quarter profits reduced by 12% as import pressures prevented it from recovering rising raw material costs, the steelmaker said Thursday .
