Steel News

ArcelorMittal Mothballs Spanish Mini-Mill

25 January 2016 - ArcelorMittal is indefinitely idling its Sestao mini-mill in Spain, blaming “extremely adverse” market conditions.

Sanctions End, and Iran Goes Shopping

25 January 2016 - Italian mill builder Danieli expects to sign commercial agreements with Iran worth up to US$5.7 billion as economic sanctions end and the country set about to modernize.

Moody's Initiates Broad Credit Ratings Review of Energy, Mining Companies

22 January 2016 - Moody’s is considering whether to downgrade 175 of the world's oil, gas, mining and metals businesses on account of the ongoing commodities downturn, the credit ratings agency has announced.

Environmental Concerns Prompt Closure of Major Iron Ore Terminal in Brazil

22 January 2016 - A Brazilian court has ordered one of the world’s primary iron ore import-export terminals to shut down owing to recurring pollution problems.

EU Takes Belgium, Italy to Task for State Support of Steelmakers

21 January 2016 - The European Commission has ordered Belgium to recover EUR211 million in aid it granted to steel companies in the Duferco group, saying the assistance distorted competition and violated EU state aid rules.

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.