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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
Schnitzer Steel Provides Outlook for Fourth Quarter of Fiscal 2013
27 August 2013 - Schnitzer Steel Industries, Inc. announced its outlook for its fourth quarter of fiscal 2013 ending 31 August 2013, nothing that export demand for recycled metals weakened versus the third quarter as reflected by lower shipped volumes and lower average sales prices.
Finished Steel Apparent Use in Latin America Remained Stable While Production Fell
23 August 2013 - Finished steel apparent use in Latin America reached 33.1 million tons in January-June 2013, in line with the same period of 2012, according to the region’s steel association Alacero.
Bloomberg: JSW Seeks to Sell U.S. Plant as Demand Revives
22 August 2013 - JSW Steel Ltd., India’s third-biggest steelmaker, will consider selling its U.S. mill complex to help reduce debt and boost earnings as a revival in the world’s biggest economy spurs demand, Bloomberg reports.
U.S. Service Center Shipments Reverse Declines in July
15 August 2013 - In July, the pattern of consistent monthly decline of U.S. steel and aluminum shipments reversed, with shipments increasing approximately 5% over last year, the Metals Service Center Institute (MSCI) reported. In Canada, July shipments of both steel and aluminum continued to decline but at rates that were much slower than June.
Northwest Pipe Predicts Third Quarter Will Be Its Weakeast This Year
09 August 2013 - Northwest Pipe Company announced its second quarter 2013 financial results, noting that it expects the third quarter to be its weakest in 2013.
EUROFER Expects European Steel Consumption to Fall 4.5% This Year
05 August 2013 - The base case scenario of a stabilization of the EU economy in the second half of 2013 and a gradual but slow recovery in 2014 is confirmed by EUROFER’s Q3-2013 Economic & Steel Market Outlook.
PwC US Says Overcapacity Continues to Impact M&A Activity in Steel Sector
02 August 2013 - While merger and acquisition (M&A) activity in the global metals sector has seen continued declines in both deal value and volume during the second quarter of 2013, China and other emerging markets played a significant role in the overall deal environment, according to PwC US.
Nucor Provides Guidance for Second Quarter Earnings
13 June 2013 - As it announced second quarter earnings guidance, Nucor said overall operating performance in the steel mills segment is down compared to the first quarter of 2013, with weaker performance in sheet and structural steel somewhat offset by improvement in plate.
ArcelorMittal Welcomes European Commission's Steel Action Plan
11 June 2013 - On 11 June 2013, the European Commission published an action plan for the European steel industry, the first such initiative since the Davignon Plan in 1977.
Schnitzer Provides Outlook for Third Quarter of Fiscal 2013
31 May 2013 - Schnitzer Steel Industries said the combination of declining selling prices, continued constrained supply trends, and lower tax benefits are expected to result in sequentially lower consolidated net income during the third quarter of fiscal 2013 ending 31 May 2013.
Paul WURTH Reports Good Performance in a Gloomy Economic Environment
23 May 2013 - Paul WURTH provided an update on its operations and earnings results for the 2012 financial year, as well as an update on the company's outlook.
Tata Steel Reports Consolidated Financial Results
23 May 2013 - As it reported its quarterly earnings results, Tata Steel says severely depressed conditions in Europe are expected to continue over the short-to-medium term and have led to a downward revision of cash flow expectations and the valuation of the Groups’ European operations.
Outokumpu Unveils New Vision, Prodcts and Pricing Model; Comments on Its Strategy Progress
22 May 2013 - At Outokumpu Experience, the company’s global event in London for customers, partners and analysts, Outokumpu launched its latest addition to the duplex product family, the FDX platform, introduced a new pricing model and commented on its strategy progress and the Terni divestment process.
Evraz Returns to Black as Q1 Sales Rise
22 May 2013 - Evraz Highveld Steel and Vanadium reported a return to profitability as it delivered a first quarter profit after suffering significant losses during the first and fourth quarters of 2012.
JSW Ispat Reports Rs 159.33 Crore Net Profit in Q4
21 May 2013 - Helped by deferred tax benefits of Rs 159.33 crore, JSW Ispat Steel, an associate firm of JSW Steel, today reported a standalone net profit of Rs 94.16 crore for the fourth quarter ended March 2013.
Severstal Q1 Net Profit Falls Almost 90% on Lower Prices
21 May 2013 - Russian steelmaker Severstal's IFRS net profit fell 89.7 percent year-on-year in January-March 2013 to $44 million, the company said on Monday, citing weaker demand and lower realized prices as contributing factors.
Novolipetsk 1Q Net Profit Falls 78%, Sees Ongoing Challenges
20 May 2013 - Russian steelmaker Novolipetsk Iron & Steel Corp. (NLMK.RS) said Friday its first-quarter net profit fell 78% on the year earlier to $38 million, noting that challenges in the global steel market remain.
Salzgitter AG update on Q1 2013 performance
17 May 2013 - In the first three months of 2013, the performance of the Salzgitter Group was overshadowed by persistently unfavorable general economic conditions in Europe.
Austria's Voestalpine on track to hit earnings forecast
17 May 2013 - Austrian steelmaker Voestalpine is on track to hit earnings before interest and tax (EBIT) of about 800 million euros ($1.03 billion) for 2012/13, up from 704 million last year, Chief Executive Wolfgang Eder said.
CSN announces Q1 2013 results
16 May 2013 - Brazilian flat-steel maker Companhia Siderurgica Nacional (SID, CSNA3.BR), or CSN, late Wednesday reported a drop of 82% in its first-quarter net profit, due to the rise of its costs in the period.
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