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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
Worldsteel: Global Demand to Rise Slightly in 2024
10 April 2024 - Global steel demand is forecast to rise 1.7% this year, growing to 1.79 billion metric tons, according to a new forecast from the World Steel Association.
Citing ITC Decision, Cleveland-Cliffs to Idle Weirton Tin Mill
15 February 2024 - Cleveland-Cliffs Inc. is indefinitely idling its Weirton, W.Va., USA, tin mill, laying the blame with the U.S. International Trade Commission (ITC) for its refusal to impose duties on imported tinplate.
JSW Steel Sees Indian Steel Demand Growing
30 January 2024 - India’s JSW Steel is forecasting that Indian steel demand could grow 8% to 10% in the next few years, driven in part by infrastructure construction, according to the company’s managing director.
U. S. Steel Reports Fourth Quarter Guidance, Mum on Sales Process
15 December 2023 - U. S. Steel expects to report fourth quarter adjusted net earnings of between 20 cents to 25 cents per diluted share, the company has announced.
Nucor Expects Q4 Profitability to Drop
15 December 2023 - Nucor Corp. said fourth-quarter earnings are likely to decline around 43% from the same period last year on lower pricing and volumes.
SDI Forecasts Lower Q4 Earnings
15 December 2023 - Steel Dynamics Inc. expects its fourth-quarter earnings to fall around 27% from last year on lower realized flat-rolled prices.
Reports: U. S. Steel Puts Granite City BF on Indefinite Idle
29 November 2023 - United States Steel Corporation is indefinitely idling the primary end of its Granite City Works in Illinois, impacting approximately 1,000 workers, according to news reports.
Shifting Steel Demand Prompts Steel Tube Institute to Refocus
14 November 2023 - The Steel Tube Institute, a trade group representing North American pipe and tube producers, is shifting its priorities to reflect current commercial construction trends.
Auto Strikes Begin to Dent Steel Demand
02 October 2023 - The United Auto Workers strike is beginning to impact the steel market, which has already been dealing with softening prices for flat-rolled products, reports the Wall Street Journal.
Auto Strike Prompts U. S. Steel to Idle Blast Furnace
19 September 2023 - United States Steel Corporation is temporarily idling the B blast furnace at its Granite City Works amid a strike by the United Auto Workers.
Nucor Forecasts Lower Q3 Earnings
15 September 2023 - Nucor Corp. said it expects its third-quarter earnings to decline by more than one-third on lower steel prices, the company said Thursday.
UAW Takes Strike Authorization Vote Against Big 3 Automakers
25 August 2023 - Members of the United Auto Workers have empowered union leaders to call strikes, if deemed necessary, as they negotiate new contracts with General Motors, Ford and Stellantis.
Outokumpu Considers U.S. Expansion
03 August 2023 - Stainless steel producer Outokumpu is weighing whether to build a hot rolling mill in the U.S. as it explores options for expanding operations here.
Cleveland-Cliffs Commissions NOES Expansion
27 July 2023 - Cleveland-Cliffs Inc. has completed an expansion of its Zanesville, Ohio, USA, plant and plans to begin trialing hydrogen in its largest blast furnace, chairman and chief executive office Lourenco Goncalves has said.
Nucor Looks to Start West Virginia Mill Construction Within Weeks
27 July 2023 - Nucor Corp. is continuing to ramp up new and revamped flat-rolled mills in Kentucky as it prepares to launch construction on its West Virginia sheet mill.
Steel Dynamics Inc. Reports Q2 Profit
20 July 2023 - Wider metal spreads and steady demand contributed to a US$812 million quarterly profit for Steel Dynamics Inc. (SDI), the company said Wednesday.
JFE Steel: Aluminum Gigacasting Is ‘A Big Problem’
12 July 2023 - A JFE Steel Corp. executive says a Tesla-pioneered technology could impact demand for its automotive steel, reports the Reuters news service.
U.S. Manufacturers Benefiting From Factory Construction
08 May 2023 - Inflation and rising interest rates are top of mind for many businesses, but U.S. steel producers and other manufacturers have another concern — just keeping up with orders.
Forecast: Global Steel Demand to Rise 2.3% in 2023
19 April 2023 - The World Steel Association (worldsteel) has revised up is bi-annual demand outlook, saying that global demand is expected to reach 2.3% this year.
Borusan Mannesmann Looks to Expand OCTG Market Share Through U.S. Acquisition
13 April 2023 - U.S. large-diameter line pipe maker Berg Pipe has been sold to Turkey’s Borusan Mannesmann for US$162 million, according to an announcement Thursday.
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