.gif?width=220&height=200&mediaprotectionhash=b13da841472e6e7ed500ee35df2a350aaf53d75246118b33ea2095cc7e9a3fc4&ext=.gif)
Economy & Markets
The latest on the economy's health and the markets driving the supply and demand of steel.
Latest News
Steelmaker's European Division Reorganizes; Now Under New Management
04 August 2015 - Tata Steel's European long products division has begun operating as a standalone subsidiary and is now under new management, according to a U.K. newspaper.
ArcelorMittal's U.S. Employees Need To Share More Of The Cost of Health Insurance, Company Says
03 August 2015 - Steel giant ArcelorMittal, which is negotiating a new labor deal with the United Steelworkers, said it needs to freeze or cut pay for some employees and require others to contribute more to the cost of their health insurance, according to the Wall Street Journal.
It Costs More To Fix Ford's Aluminum F-150 Than The Steel Version, Says Insurance Institute
31 July 2015 - Body repairs to an aluminum 2015 Ford F-150 took longer and cost 26 percent more than repairs to its 2014 steel-bodied counterpart, according to test results from the Insurance Institute for Highway Safety.
Report: China Steel Exports Reaching "Extraordinary" Levels
29 July 2015 - Steel exports from China have increased to extraordinary levels as demand in the world’s largest producer slows, according to a Bloomberg report. Meanwhile, the head of India’s third-biggest mill is decrying the impact of surging competition, it said.
Grupo Simec Announces Results for the First Six Months of 2015
28 July 2015 - Grupo Simec, S.A.B. de C.V. ("Simec") announced its results of operations for the sixth-month period ended June 30, 2015.
Reliance Steel & Aluminum Co. Posts Second Quarter 2015 Results
27 July 2015 - Reliance Steel & Aluminum Co. reported its financial results for the second quarter ended June 30, 2015.
Nucor Publishes Second Quarter Financial Results
27 July 2015 - Nucor Corporation presented their earnings report for the second quarter of 2015 on 23 July.
Outokumpu Reports EUR -25 Million Underlying EBIT for Q2 2015: Improvement in Coil EMEA Not Enough to Cover Losses in Coil Americas
24 July 2015 - Outokumpu released its interim report for the second quarter of 2015 on 23 July.
EVRAZ Releases Production Report for Second Quarter of 2015
24 July 2015 - EVRAZ plc released its operational results for the second quarter of 2015 on 17 July.
Steel Dynamics Inc. Announces Second Quarter 2015 Results
23 July 2015 - Steel Dynamics, Inc. announced second quarter 2015 adjusted net income of $53 million, or $0.22 per diluted share, and adjusted operating income of $120 million, which excludes the following items:
U. S. Steel Canada Attempting to Swap Financiers
22 July 2015 - According to a report by the CBC, after fielding threats their financing would be cut, U.S. Steel Canada is filing to replace its original bankruptcy lender, U.S. Steel (USS), with Brookfield as the creditor for a unique line of credit for bankruptcy proceedings, called debtor in possession (DIP) financing.
Northwest Pipe Company to Explore the Sale of Its Energy Tubular Products Business
22 July 2015 - Northwest Pipe Company, an industry leader of engineered welded steel pipe products, announced it is in the process of exploring the sale of its remaining Energy Tubular Products business, which includes line, structural and standard pipe, and is located in Atchison, Kansas.
ArcelorMittal Announces Publication of Second Quarter 2015 EBITDA Sell-Side Analyst Consensus Figures on corporate.arcelormittal.com
21 July 2015 - ArcelorMittal announced their second quarter 2015 EBITDA sell-side analyst consensus figures on 20 July.
POSCO Returns to Steel Roots With "Aggressive" Cutbacks
20 July 2015 - As reported by Bloomberg, Posco pledged to halve its domestic operations and cut overseas units by 30 percent as South Korea’s biggest steel producer focuses on its main business of making the metal.
Nick Grasberger, Harsco President and CEO, to Lead Metals & Minerals on an Interim Basis; Company Announces Q2 Earnings Guidance
20 July 2015 - Harsco Corporation announced that Nicholas Grasberger, the Company's President and Chief Executive Officer and member of the Board of Directors, will assume the leadership of the Harsco Metals & Minerals segment on an interim basis effective immediately, following the departure of Metals & Minerals President Richard Lundgren to pursue other opportunities.
Insteel Industries Reports Third Quarter Financial Results
20 July 2015 - Insteel Industries, Inc. announced financial results for its third quarter ended June 27, 2015.
Gerdau Announces Project Gerdau 2022 Corporate Restructuring Plan
16 July 2015 - On 14 July, Gerdau S.A. announced a sweeping corporate restructuring plan to respond to market changes and consolidate ownership of its South American, North American and Brazilian operations.
TMK Ipsco Temporarily Lays Off 75 Works at Blytheville, Ark., PLant
16 July 2015 - According to a report by news station KAIT, More than 75 employees were temporarily laid off at TMK Ipsco's operations in Blytheville, Arkansas after they were warned of the possibility 2 months ago.
Vallourec Star Cutting 60-80 Jobs At Youngstown Plant
15 July 2015 - According to a report by the Youngstown Vindicator, Vallourec Star will cut 60 to 80 jobs at its Youngstown, Ohio, USA plant in early August because of weak demand in the oil and gas market.
ArcelorMittal USA CEO Hints at Future Divestment of U.S. Plants
10 July 2015 - In a blog post from 23 June, ArcelorMittal CEO Andrew Harshaw expressed concern over the unsustainability of operating multiple hot strip mills in the United States at low capacity utilization rates.
