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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
Two Chinese Steelmakers Explore Mega-Merger
27 June 2016 - Baosteel Group Corp. and Wuhan Iron & Steel Group Corp., two of China’s largest steelmakers, are considering a merger, potentially creating a company that could rival No. 1 ArcelorMittal SA, according to reports.
Brexit Leaves Fate of Tata Steel U.K. All the More Uncertain
27 June 2016 - The United Kingdom’s vote to secede from the European Union will complicate Tata Steel's efforts to sell its U.K. strip business and may, in fact, give the company more of a reason to hold on to the business, according to reports.
Indian Coking Coal Demand Poised for Significant Increase
23 June 2016 - India’s coking coal demand is likely to increase by 45 percent by 2020 as the country looks to expand its steel production, according to The (India) Economic Times.
Nippon Steel Marks Start of Construction on U.S. Processing Plant
22 June 2016 - Nippon Steel & Sumitomo Metal Corp. has broken ground on a US$50 million wire rod processing plant in the state of Indiana.
Billiton Forecasts Increased Demand for Coking Coal
21 June 2016 - BHP Billiton Ltd. said it believes that a rise in steel production from emerging economies – India’s economy especially – will drive long-term demand growth for coking coal, reports the Bloomberg news service.
India Investment Program Expected to Generate Significant Steel Demand
16 June 2016 - Indian miners and steelmakers are likely to see significant new demand arising from Prime Minister Narendra Modi’s US$87 billion Make in India initiative, reports The (India) Economic Times.
China Steel Industry Sentiment Falls Steeply in June
13 June 2016 - Players in the Chinese steel market are increasingly pessimistic on the domestic industry’s outlook, as the S&P Global Platts China Steel Sentiment Index collapsed to a 16-month low in June.
Steel Market Conditions Prompt Mitsubishi Heavy Industries to Reduce Costs at Primetals Venture
13 June 2016 - In the face of a weak steel market, Mitsubishi Heavy Industries Ltd. is looking to cut costs at its Primetals Technologies venture, reports the Bloomberg news service.
Primetals, AIC Win Order for 500K Rebar Mill
09 June 2016 - Filipino rebar maker Capitol Steel Corp. has awarded a contract for a new bar rolling mill to Primetals Technologies and partner Automazioni Industriali Capitanio S.r.l. (AIC), according to Primetals.
Cliffs Natural Resources Moves Up Restart Schedule for Idled Mine
09 June 2016 - Iron ore miner Cliffs Natural Resources will reopen an idled Minnesota mine two months sooner than planned after securing third- and fourth-quarter orders from a new customer, the company announced on Thursday.
Nucor Joint Venture Eyes Mexican Auto Market
09 June 2016 - Nucor Corp. plans to build a US$270 million galvanized sheet mill in central Mexico through a new joint venture, the company has announced.
Some Doubt China Pledge To Curb Excess Steel Capacity
08 June 2016 - China has promised to cut down its enormous steelmaking capacity by limiting new mills, eliminating antiquated mills and putting a final end to the so-called "zombie" operations that have returned from the dead.
U.S. Official Rebukes China for Excess Steel Capacity
06 June 2016 - U.S. Treasury Secretary Jack Lew criticized China on Monday for enabling the steel glut, which has driven down prices and forced steelmakers to idle mills, reports The Washington Post.
U.S. Should Resolve Trade Disputes Through Discussion, Not Protectionist Measures, Says China Official
03 June 2016 - Barring Chinese-made steel from the U.S. market would be an abuse of trade remedies, Zhu Guangyao, China’s vice minister of finance, said on Thursday, according to Xinhua, the country’s official news agency.
Reports: U.K. Government May Loan Tata Steel Millions to Keep It from Leaving
03 June 2016 - Tata Steel, which in March announced that it no longer thought it could make steel profitably in the U.K. and would exit the market, may not leave after all.
Trade Commission Moves Forward on U.S. Steel Corp. Complaint
27 May 2016 - The U.S. International Trade Commission will pursue United States Steel Corporation’s Section 337 trade complaint against the largest of Chinese steel producers, the commission has announced.
G7 Resolves to Address Global Steel Glut
27 May 2016 - Leaders of the world’s seven wealthiest countries promised on Friday that they would take steps to address global excess steelmaking capacity, reports the Reuters news service.
China Trying to Discourage Steel Exports, Industry Group Says
24 May 2016 - Exports of Chinese-made steel are being driven by market forces and rose last year in spite of government action intended to reduce incentives for selling overseas, the China Iron & Steel Association said, according to the Reuters news agency.
Iron Ore Producers Should Focus on the Long Term With China's Steel Mills, Says CISA
20 May 2016 - China Iron & Steel Association Secretary General Liu Zhenjiang said iron ore miners should seek longer-term, mutually beneficial supply deals with Chinese steel mills, instead to trying to turn a profit on short-term price increases, according to Platts.
Financing Costs, Used Auto Supply Likely to Restrain Growth in New Car Sales, Says SDI Executive
18 May 2016 - Steelmakers are continuing to look to the automotive market as source of healthy demand, but one steel executive said he’s not as bullish as others when it comes to auto sales forecasts in the U.S.
