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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
ArcelorMittal South Africa To Close Facilities, Lay Off 400
31 August 2015 - ArcelorMittal South Africa is planning to close parts of one steel works and has begun studying whether to restructure another, the company said in a statement.
EU Imposes Duties on Steel From China, Taiwan
28 August 2015 - The European Union officially has slapped a 25.3 percent anti-dumping duty on Chinese stainless steel cold rolled flat products, Eurofer, The European Steel Association, has announced.
South Africa Introduces Tariff on Imported Steel, But With Conditions
28 August 2015 - South Africa's trade and industry minister has approved a 10-percent protective tariff on certain steel products, looking to shield domestic steelmakers from Chinese imports.
South Africa Expected To Impose Steel Tariffs
25 August 2015 - Heeding calls from labor groups and its steel industry, South Africa is planning to impose a 10-percent tariff on steel imports, according to Reuters.
Steelmakers, Toyota Agree To Lower Sheet Prices
20 August 2015 - Major steelmakers that supply Toyota Motor Corp. have agreed to cut sheet steel prices on account of lower coal and iron prices.
MSCI: July Steel Shipments Fall, Inventories Rise
18 August 2015 - U.S. and Canadian steel shipments declined 7 percent in July, dropping to 3.44 million tons, according to the Metals Service Center Institute.
Institute: Recent Trade Cases Could Have Broader Impacts on U.S. Economy
17 August 2015 - The American Institute for International Steel is weighing in with a few thoughts regarding the spate of trade cased filed by U.S. producers, saying the cases come with a few pitfalls that merit consideration.
With Contract Deadline Looming, Steelworkers Plan A Week of Rallies
17 August 2015 - Members of the United Steelworkers union are planning a week of rallies at U.S. Steel Corp. and ArcelorMittal facilities as it tries to negotiate a new labor deal with the companies by Sept. 1.
ArcelorMittal Finalizes South Carolina Rod Mill Closure
14 August 2015 - ArcelorMittal has formally closed its Georgetown, S.C., wire rod mill, bringing to a close 46 years of steel production at the site.
Devalued Yuan Leads China Steel Producers To Cut Prices
14 August 2015 - With China having devalued its currency earlier this week, steelmakers there are already moving to reduce export prices, according to a Reuters report.
U.S. Producers Seeking Trade Measures Against Hot Rolled Steel Imports
12 August 2015 - Six U.S. steelmakers have filed petitions for trade action against imports of hot rolled flat products, the producers have announced.
Lawmaker Wants U.S. Pipelines To Be Built From American Steel
10 August 2015 - U.S. Rep. Rick Nolan has reintroduced a bill requiring that domestic oil and gas pipelines be built with American-made steel.
U.S. Exports Up In June, But Outlook Remains Weak, Says Steel Institute
07 August 2015 - For the second month in a row, domestic steel exports have grown, increasing by 1.7 percent to 885,191 net tons, according to the American Institute for International Steel.
Acquisition Talks For Tata Steel Long Products Business Unsuccessful, Company Confirms
06 August 2015 - Confirming earlier reports, Tata Steel executives said that negotiations on the sale of its European long products business have broken off.
Iran Sees More Steel Production In Its Future
05 August 2015 - Iran is looking to double its steel production over the next 10 years, Mehdi Karbasian, deputy minister of Iran’s Ministry of Industries, Mines & Trade, told BloombergBusiness in an interview.
Klesch Group Ends Acquisition Talks For Tata Steel Long Products Business
04 August 2015 - A metals, chemical and oil company has withdrawn from discussions on buying Tata Steel's European long products business, according to a report in The Financial Times.
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.
