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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
EU Steelmakers Push for Lower Import Limits
08 June 2020 - Europe’s leading steelmakers are calling on the European Commission to lower the limit on the amount of steel that can be imported tariff-free into the bloc, saying that a potential flood of inexpensive steel threatens an already imperiled industry.
World Steel Association Looks for Steel Demand Rebound in 2021
04 June 2020 - Global steel demand is expected to contract 6.4% this year but might begin to rebound next year, according to a World Steel Association forecast.
ArcelorMittal Still is the World's Biggest Steelmaker. For Now.
03 June 2020 - ArcelorMittal remained the world’s biggest steel producer in 2019, but China Baowu Group closed in on the top ranking during the year, according to a new report from the World Steel Association.
Report: China’s Steel Output Up, Inventories Down
26 May 2020 - Output from China Iron and Steel Association member producers rose to 2.08 million metric tons per day in mid-May, the second-highest level in five years, reports commodities news and pricing service Argus.
thyssenkrupp Keeping All Options Open for Steel Unit, Including Merger
19 May 2020 - thyssenkrupp is accelerating plans to reorganize its overall business and is exploring a potential merger of its steel unit, the company said Monday.
Latin American Producers Caution on Potential Import Problems
14 May 2020 - Alacero, the Latin American Steel Association, is warning of a potential flood of Chinese-made steel as that country ramps its economy back up while others slog through the COVID-19 pandemic.
EUROFER: Challenging Times Ahead for EU Steelmakers
12 May 2020 - Europe’s industrial sector might fully restart by July, but output likely will remain down through the end of the year, according to a new demand forecast from the European Steel Association.
Automakers Set to Resume Production
11 May 2020 - Detroit’s three automakers, Ford, General Motors and Fiat Chrysler, will undertake a phased restart of their North American plants next week, reports WardsAuto.
ArcelorMittal: China’s Excess Steel Inventory Hasn’t Hit the World Market
11 May 2020 - China so far appears to be absorbing the massive steel volumes that piled up during its COVID-19 lockdown, alleviating some of the fears that its excess steel would flood world markets, ArcelorMittal executives said.
Fiat Chrysler Plans for May Restart
07 May 2020 - Fiat Chrysler Automobiles (FCA) is looking to resume production at its North American plants in a little more than a week, reports Wards Auto.
As China’s Economy Reopens, Steel Inventories Begin to Fall
30 April 2020 - China has started to work down its record steel inventories that built up during the country’s coronavirus lockdown, according to the World Steel Association.
CISA Expects Chinese Steel Demand to Pick Back Up
23 April 2020 - The China Iron and Steel Association is predicting a “remarkable” second-quarter rebound as industry ramps back up following the country’s coronavirus lockdown, reports Asia Times Financial.
SDI: No Changes Yet to Texas Mill Construction Schedule
21 April 2020 - Steel Dynamics Inc. (SDI) said it continues to aim for a mid-2021 start-up of its new Texas sheet mill, but will re-evaluate that goal as the year progresses.
Ohio Blast Furnace Being Taken Off-Line
09 April 2020 - ArcelorMittal is preparing to idle the No. 6 blast furnace at its Cleveland, Ohio, USA, facility, reports The Times newspaper of northwest Indiana.
Nippon Steel Adjusts Production
08 April 2020 - Nippon Steel Corp. will bank two blast furnaces later this month and curtail coke production as it adjusts to lower demand, the company has said.
BlueScope Pushes Back Ohio Expansion Project
07 April 2020 - BlueScope Steel Ltd. is delaying the expansion of its North Star sheet mill as it looks to preserve cash during the COVID-19 pandemic.
Weak Energy Demand Forces EVRAZ to Close Pipe Mill
07 April 2020 - With energy pipeline projects falling to the wayside, EVRAZ North America is idling its spiral-weld pipe mill in Oregon, reports The Oregonian newspaper.
Honda, FCA Extend Plant Shutdowns
07 April 2020 - Honda and Fiat Chrysler Automobile will keep their U.S. and Canadian plants closed through the remainder of April, reports trade publication WardsAuto.
Infrastructure Ought to Be Part of COVID-19 Relief, Steel Groups Say
01 April 2020 - Five U.S. steel trade organizations have urged Congress to provide for public infrastructure investments in the next phase of COVID-19 economic stimulus.
Ford Delays Plant Restarts
01 April 2020 - Ford Motor Co. has pushed back the planned restart of North American plants, saying that it is taking the step to help better protect workers.
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