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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
Nucor Anticipates Profitable Q1
16 March 2023 - Nucor Corp. is expecting a softer first-quarter profit, but said its steelmaking, steel products and raw materials businesses are nevertheless off to a strong start in 2023.
OECD Steel Committee: Big Capacity Growth, but Little Demand Growth in 2023
15 March 2023 - Global steel demand will grow by a mere 1% in 2023, far outpaced by growth in steelmaking capacity, according to the Organisation for Economic Co-operation and Development (OECD)’s steel committee.
Steel Dynamics Sees Healthy Steel Demand, Expects Profitable Q1
15 March 2023 - Steel Dynamics Inc.'s first-quarter earnings are likely to dip roughly 3%, but the company says demand in its steel, scrap and fabricated products businesses remains strong.
The World’s No. 2 Met Coal Exporter is Spinning Off Its Coal Mines. Here’s Why.
23 February 2023 - Canadian miner Teck Resources Ltd. is splitting off its metallurgical coal business into a separate public company that will be owned in part by two of its biggest steelmaking customers, the company has announced.
U. S. Steel Restarts Idled Mon Valley Works BF
06 February 2023 - Increasing demand has prompted United States Steel Corporation to restart the No. 3 blast furnace at its Mon Valley Works in Pennsylvania.
The World Made Less Steel in 2022. Here’s How Much Output Fell.
01 February 2023 - Global crude steel production declined 4.2% in 2022, according to the World Steel Association (worldsteel).
Swedish Producer Restarts Blast Furnace
01 February 2023 - SSAB has joined the list of European steel producers who have relit idled blast furnaces in recent weeks, reports Fastmarkets MB.
SDI Achieves Record Profitability in 2022
25 January 2023 - 2022 was a banner year for Steel Dynamics Inc. as the U.S. steelmaker posted record net sales, profits and shipments.
CMC Sees Spring Start for Arizona Micro-Mill
12 January 2023 - Long products maker Commercial Metals Company (CMC) is building out crews and training them as it begins commissioning equipment at its new Arizona micro-mill, the company’s chief executive said Monday.
Lower Prices, Shipments Likely to Dent Algoma Q3 Earnings
11 January 2023 - Canada’s Algoma Steel Inc. said Tuesday it expects to report a fiscal Q3 adjusted loss before interest, taxes, depreciation and amortization of between CA$35 million and CA$45 million due to lower plate shipments, softer steel prices and routine, seasonal maintenance work.
Healthy Demand Pushes Up CMC’s Q1 Profits
09 January 2023 - Long products maker Commercial Metals Company (CMC) saw its fiscal first quarter profits rise 12% due in part to strength in North American demand, the company said on Monday.
Steel Dynamics Expects Q4 Earnings to Decline
16 December 2022 - Steel Dynamics Inc. (SDI) is forecasting its fourth-quarter earnings to fall roughly 39% over the prior year due in part to tightening metal spreads, especially at its flat-rolled operations.
Nucor Expects Q4 Earnings to Slide, Announces Expansion of Steel Towers Business
16 December 2022 - Nucor Corp. expects its fourth-quarter earnings to fall roughly 45% due in part to lower volumes and lower average selling prices, the company said on Thursday.
Japanese Steelmakers Consider Increasing Electrical Steel Investment
07 December 2022 - Nippon Steel Corp. and JFE Steel Corp. are eying additional investments in electrical steels as demand for electric vehicles increases, according to the Bloomberg news service.
Lower Prices, Destocking Bite Into ArcelorMittal Q3 Profits
10 November 2022 - ArcelorMittal saw its third-quarter profits cut by more than 75% on reduced shipments and lower prices for those shipments.
War, Inflation Lead worldsteel to Revise Down Steel Demand Forecast
19 October 2022 - Global steel demand is expected to decline 2.3% this year as persistent inflation, rising interest rates and Russia’s invasion of Ukraine slow the worldwide economy, according to a new forecast from the World Steel Association (worldsteel).
Forecast: Renewable Energy Will Increase Global Steel Demand
04 October 2022 - New solar and wind farms are expected to drive new steel demand of 2% annually by 2030 and 4% by 2050, according to a new forecast from iron ore miner BHP Group Ltd.
U. S. Steel Leans into Market Headwinds
16 September 2022 - United States Steel Corporation expects to report adjusted net earnings of somewhere between US$1.90 and US$1.95 per diluted share this quarter, even as market headwinds begin to impact the business, the company has said.
Nucor Anticipates Record Year, but Comparatively Lower Q3 Results
15 September 2022 - Nucor Corp. expects its third-quarter earnings to fall roughly 13% year over year on lower shipments and prices at its steel mills.
SDI Q3 Earnings Expected to Soften but Sees Underlying Demand Persist
15 September 2022 - Steel Dynamics Inc. expects its third-quarter earnings to drop roughly 23% from the prior three months due in part to lower average flat-rolled prices.
