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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
Kentucky Hopes to Prompt AK Steel to Relight Ashland Blast Furnace
15 April 2016 - Kentucky Gov. Matt Bevin has signed a bill meant to entice flat rolled maker AK Steel Corp. to relight the blast furnace at its Ashland Works, according to the Associated Press.
China Agrees to End Subsidy Program; Steel Executives Press for Aggressive Enforcement of Trade Laws
14 April 2016 - The U.S. has signed an agreement with China to end a disputed program that subsidized Chinese exports from seven sectors, one of which includes specialty steel.
Steelmakers Suggest Ways to Fight Excess Capacity During Hearing
12 April 2016 - Steelmakers, labor representatives and community leaders were in Washington, D.C., Tuesday to offer testimony about the impact of the world’s excess steel capacity and to suggest ways to combat the problem.
Thousands of German Steelworkers Take to the Streets, Protesting Imports, Potential Consolidation
11 April 2016 - Thousands of German steelworkers staged nationwide protests Monday, demanding more action against Chinese imports -- and a seat at the table in any discussions about possible industry consolidation.
Tata Steel, Investment Firm Shake Hands on Sale of Long Products Business
11 April 2016 - Tata Steel has reached a deal to sell its European long products business to private investment firm Greybull Capital, the company has announced.
Chinese Steelmakers Lost US$15.5 Billion in 2015
08 April 2016 - China’s steelmakers made a lot of steel in 2015, but they reportedly didn’t make any money in return: they collectively lost US$15.5 billion in 2015, according to Xinhua, China’s official news agency.
Report: Tata May Have Hard Time Finding Buyer for U.K. Business
07 April 2016 - After Tata Steel announced that it would look to divest its U.K. business last week, the hope has been for a quick sale to a buyer with a turn-around plan.
The Rest of World Should Cut Its Excess Capacity, Too, China Official Says
07 April 2016 - A Chinese steel official is throwing criticism of the country's steel industry back at the countries dishing it out, saying that mills in other parts of the world are struggling because they are uncompetitive, according to BloombergBusiness.
Tata Steel to Start Formal Sales Process for U.K. Business Next Week
06 April 2016 - Tata Steel will launch the formal sales process for is ailing U.K. business on 11 April, according to a U.K. official.
U. S. Steel Is Letting Go of One-Fourth of its Nonunion Workforce in U.S.
06 April 2016 - United States Steel Corporation is cutting 25 percent of its nonunion payroll in the U.S., the steelmaker has confirmed.
Could Two of Canada's Biggest Steelmakers Join Forces? Possibly, Newspaper Says
01 April 2016 - Preliminary bids are due today, 1 April, from investors interested in Essar Steel Algoma, a Canadian plate and sheet producer that entered creditor protection last year.
ArcelorMittal Idles Indiana Hot Strip Mill
01 April 2016 - In the latest of it capacity-cutting efforts, ArcelorMittal has shut down the 84-inch hot strip mill at its Indiana Harbor facility in Indiana, a union official tells The Times newspaper of northwest Indiana.
Report: Tata Steel, thyssenkrupp Might Bring European Operations Together
01 April 2016 - As India’s Tata Steel looks to exit the United Kingdom, it’s reportedly considering a new direction for its other European assets.
With Profits Scarce, Steelmaking Has Entered an Ice Age, Says Producer
31 March 2016 - The world’s steel companies have entered an “ice age,” a Chinese steelmaker said in announcing a US$710 million net loss in 2015, reports BloombergBusiness.
Nine Years and Billions of Dollars Later, Tata Steel Calls it Quits in the United Kingdom
30 March 2016 - After spending billions to buy Anglo-Dutch steelmaker Corus in 2007, and then losing millions more on the investment, India’s Tata Steel has announced plans to sell its U.K. business, leaving thousands of jobs at risk.
Steel Industry Vets Investing Nearly US$37 Million in North America's 'Most Advanced' Cold Finished Bar Mill
29 March 2016 - A start-up company has selected Valparaiso, Ind., as the home of what it says will be North America’s most advanced cold drawn bar mill and plans to begin operations in 2017.
Further Investigation into Stainless Imports from China Warranted, U.S. Trade Commission Rules
28 March 2016 - The U.S. International Trade Commission has issued a preliminary ruling in a trade case involving stainless steel sheet and strip from China, saying that it appears overseas producers are undercutting prices and have harmed the U.S. industry.
Builder of Unfinished Taconite Facility Looks to Restructure Millions in Debt
28 March 2016 - Essar Steel Minnesota, the company building Minnesota’s first new taconite facility in years, owes approximately US$1 billion and has hired advisers to help it restructure its debt, reports the Reuters news service.
China Steel, Coal Sectors Owe More Than US$1T
23 March 2016 - China’s efforts to cut excess coal mining and steelmaking capacity could be thwarted by the US$1.56 trillion in debt being carried by those sectors and others, according to the Reuters news service.
Evraz Plans Further Curtailments at Colorado Mill
21 March 2016 - After announcing plans to indefinitely idle the seamless tube mill at its Colorado plant, Evraz North America has said it will temporarily halt steelmaking and idle the rail mill there as well, according to reports.
