Steel News

U. S. Steel Warns of More Job Cuts at Lone Star Plant

20 January 2016 - United States Steel Corporation is planning to curtail production and lay off nearly 700 employees at its Lone Star tubular plant in Lone Star, Texas.

IEA: Oil Market Could Drown in Global Oversupply

20 January 2016 - Oil prices might continue to fall in 2016 as the world is poised to withdraw more from the Earth than it needs, according to the International Energy Agency.

Essar Steel Algoma to Begin Shopping Itself Around

20 January 2016 - Canada’s Essar Steel Algoma is to begin searching for a buyer or major investor in its Sault Ste. Marie, Ont., integrated mill, reports the online publication SooToday.com.

China's Steel Production Contracts for the First Time in 25 Years

19 January 2016 - For the first time in as long as many can remember, Chinese steelmakers produced less than they did the year before, according to reports.

Report: OMK Exploring Sale of U.S. Tube Mill

18 January 2016 - Russia’s United Metallurgical Co. (OMK) is looking into selling its U.S. pipe mill, which it opened three years ago to capitalize on the then-booming energy market, according to the Reuters news service.

China Iron and Steel Association: Our Steelmakers Are Hurting, Too

18 January 2016 - Overcapacity and falling domestic demand are impacting the Chinese steel industry -- the country’s major steel producers lost US$8.07 billion from January to November 2015, reports the Reuters news service.

Tenaris Trims 100 Jobs at Arkansas Mill; Blames Oil Downturn

18 January 2016 - Tube maker Tenaris is shedding approximately 100 jobs at its welded pipe mill in Blytheville, Ark., USA, due to the weak energy market, the company has announced.

Tata Steel to Let Go More Than 1,000 at UK Mills

18 January 2016 - Tata Steel UK Ltd. is laying off 1,050 people, mostly from its integrated Port Talbot mill in Wales, on account of continued pricing pressure from low-cost imports, the company has announced.

Labor Union to Meet With Tata Steel Leaders Over Layoff Reports

11 January 2016 - The United Kingdom’s Community labor union said it plans to meet with Tata Steel officials over reports that the company might lay off hundreds of people at its Port Talbot works in Wales, according to the BBC.

Update: Job Cuts Might Be on the Way at U.S. Steel's Ohio Tube Plant

08 January 2016 - United States Steel Corporation is planning to cut production and lay off approximately 260 employees at its Lorain, Ohio, tubular operation, according to The (Elyria, Ohio) Chronicle-Telegram newspaper.

Magnetation Idles Iron Ore Concentrate Plant

07 January 2016 - Minnesota-based Magnetation LLC is idling the second of its three iron ore concentrate plants and expects to lay off approximately 160 people, according to reports.

Republic Steel to Mothball Ohio Rolling Mill

07 January 2016 - Special bar quality manufacturer Republic Steel has announced that it will idle its Lorain, Ohio, USA, rolling mill by March and lay off approximately 200 workers, according to media reports.

Canadian Iron Ore Producer Pulls Back on Winter Operations

06 January 2016 - Tata Steel Minerals Canada (TSMC), the steelmaker’s iron ore joint venture in Canada, is scaling down winter operations at its direct-shipping ore project.

Automakers: 2015 Was a Banner Year for Sales

06 January 2016 - As depressed as the steel markets might be, there’s at least this much to hold on to:

Nucor to Restart DRI Plant

06 January 2016 - U.S.-based Nucor Corp. intends to resume production at its Louisiana direct reduced iron (DRI) plant by the end of January, the company has announced.

Outotec to Cut 150 Jobs in Finland

04 January 2016 - Finland’s Outotec will cut 150 jobs at home and throttle back production at a machine shop and at its filters unit as it attempts to pare EUR70 million in fixed costs.

World Steel Chairman: An Oil, Gas Recovery is Still Months Off

28 December 2015 - The oil and gas sector isn’t likely to begin to recover until at least the summer of next year, World Steel Association chairman Wolfgang Eder said during an interview with USA Today.

U.S. Commerce Department Proposes Big Dumping Margin on Chinese-Made Corrosion-Resistant Steel

23 December 2015 - The U.S. Department of Commerce has made a preliminary determination that steel producers in China, India, Italy and South Korea have dumped corrosion-resistant steel in the U.S.

Baosteel Pulls the Plug on Multi-Billion-Dollar Iron Ore Project

23 December 2015 - China’s Baosteel and its partners are mothballing a proposed US$5.4 billion iron ore project in Australia on account of market conditions, reports BloombergBusiness news service.

Tata Steel Negotiating Sale of European Long Products Business

22 December 2015 - Tata Steel is in talks with investment firm Greybull Capital to sell its European long products business, the company has announced.