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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
With Low Oil Prices, U.S. Mills Lose Relative Energy Advantage
04 October 2016 - Not only have falling oil prices lowered the demand for steel pipe and tube, they’ve dulled a cost advantage U.S. steel producers had over their counterparts elsewhere in the world, according to an industry consultant.
Steel Construction Expected to Soften in 2017
04 October 2016 - There are many adjectives that will adequately describe the state of the steel construction markets in 2017, and none of them are particularly good, at least as the American Institute of Steel Construction sees it.
Analyst: Expect Tighter Competition in U.S. Sheet Market
04 October 2016 - Supply-side competition in the U.S. sheet market is likely to stiffen in the year ahead as new players enter the market and others become more aggressive, according to one analysts.
Chinese Steel Production Proving Difficult to Curb
27 September 2016 - If China really intends to cut its excess steelmaking capacity, then the effort is off to a lousy start, reports the Bloomberg news service.
Steel Dynamics Forecasts Rising Q3 Profits
20 September 2016 - U.S.-based Steel Dynamics Inc. said it expects to double its third-quarter per-share profit due to a widening gap between average steel prices and scrap costs.
Nucor Forecasts Rising Third-Quarter Earnings
15 September 2016 - Nucor Corp. said it expects to report third-quarter net earnings of between US$0.85 and US$0.90 per diluted share partly on account of improved profitability at its sheet mills and lessening pressure from imported products.
Amid Recession, Long Products Maker Gerdau Sending More Flat Steel Overseas
15 September 2016 - With the Brazilian economy in a deep recession, Gerdau SA is looking to sell flat steel into foreign markets, and is finding success.
Tenaris Plans November Restart of Idled Tube Mill
15 September 2016 - Tenaris plans to restart its idled seamless mill in Ontario, Canada, and is recalling between 120 and 150 union workers, the company has announced.
SAIL Records Fifth Straight Quarterly Loss, Forecasts Increasing Steel Demand
09 September 2016 - India’s largest steelmaker lost US$81 million in the first quarter of its fiscal year, but is forecasting increasing demand and is advancing plans to boost capacity, reports the Bloomberg news service.
G20 Nations Pledge to Address Excess Steel Capacity
06 September 2016 - Leaders at the G-20 summit in China have agreed to create a group that will promote discussion and cooperation amongst nations on the world’s excess steelmaking capacity.
Blaming Soft Plate Market, Essar Algoma Cuts Workforce
06 September 2016 - Canada’s Essar Steel Algoma is laying off more than six dozen employees owing to weakness in the plate markets, reports the online SooToday.com.
Steel Not on the G-20 Agenda for China
30 August 2016 - China is keen on discussing its financial reforms during the upcoming Group of 20 summit – and less so on talking about the world’s excess steelmaking capacity, reports The Nikkei Asian Review.
Hebei Iron & Steel Begins Boosting Sales, Production at Serbian Mill
30 August 2016 - Nearly two months after acquiring Serbia’s ailing Železara Smederevo steel works, Hebei Iron & Steel has managed to lift the facility’s monthly sales and is targeting 1.7 million tons of production in 2017, reports Xinhua, China’s official news agency.
Magnetation Planning to Wind Down Operations
29 August 2016 - AK Steel Corp. will pay up to US$37.5 million to end its pellet supply agreement with its joint venture pellet producer, Magnetation LLC, which will begin to wind down its remaining operations unless it finds a buyer or new financing.
The Time is Now for Meaningful Commitments on Capacity Reductions, SMA Chairman Says
26 August 2016 - In spite of new trade laws and a spate of anti-dumping cases, unfairly traded steel imports continue to pose significant challenges for U.S. steelmakers, the chairman of the Steel Manufacturers Association said on Friday.
In Indiana, Steelworkers Rally Over U. S. Steel Layoffs, and ArcelorMittal Advances Optimization Plan
26 August 2016 - The United Steelworkers union is rallying this afternoon in downtown Gary, Ind., protesting U. S. Steel Corp.’s decision to layoff approximately three dozen maintenance workers at the Gary Works, reports The Times newspaper of northwest Indiana.
Temporary Mill Shutdowns in China May Halt Advancing Iron Ore Prices
25 August 2016 - Amid reports of orders for Chinese mills to shut down during the G20 summit in Hangzhou early next month, iron ore traders are likely to be keeping a close eye on the markets for signs of a retreat in prices.
United Steelworkers, Others Pressing Canadian Federal Government to Support Steel Industry
22 August 2016 - Calls are mounting for the Canadian federal government to step off the sidelines and take action in support of Canada’s steel industry and its employees, both retired and active, reports The Hamilton Spectator newspaper.
Aided by Its North American Sheet Mill, BlueScope's Fortunes Rise in Fiscal 2016
22 August 2016 - Australia’s BlueScope Steel more than doubled its underlying net profits in fiscal 2016 due in part to higher sales and cost reductions as well as to having taken full ownership of its U.S. sheet mill.
EVRAZ Sees North American Sales for Rail, Tube Decline
19 August 2016 - Russia’s EVRAZ saw its sales fall nearly 28 percent in the first half of 2016, primarily on lower prices and weaker demand. But the second quarter brought about improving conditions, and the company is therefore “cautiously optimistic” about the second half, it said on Thursday.
