Economy & Markets
The latest on the economy's health and the markets driving the supply and demand of steel.
Latest News
Surging Imports Prompt Liberty Steel and Wire to Pause Production
26 September 2024 - Liberty Steel and Wire is throttling back production and temporarily laying off employees at its Peoria, Ill., USA, facility, reports the (Peoria, Ill.) Journal Star newspaper.
Report: China’s Steel Industry Could See Wave of Consolidation
23 September 2024 - With nearly 75% of China’s steel producers posting losses in the first half of this year, bankruptcy is a looming risk — and one that could spur consolidation among domestic producers, reports the Bloomberg news service.
Chinese Steel Exports Resurge
03 September 2024 - Chinese steel exports are on pace to reach or exceed 100 million metric tons this year, an eight-year high, reports the (London) Financial Times.
China Reconsiders Capacity Swap Program
26 August 2024 - With China’s demand for steel on the decline, the government is rethinking its policy for allowing new steel mills to be built, according to the Bloomberg news service.
China Baowu Braces for a “Harsh Winter”
14 August 2024 - China Baowu Steel Group Corp. is warning of the potential for China’s steel slowdown to spill over to the rest of the world and deepen its own problems, the Bloomberg news service reports.
New Wave of Chinese Steel Exports Softening Prices, ArcelorMittal Says
01 August 2024 - ArcelorMittal saw its second-quarter profits fall and said Chinese steel exports have put the market in “unsustainable” territory.
Nippon Steel Sells Stake in Chinese JV
23 July 2024 - Japan’s Nippon Steel Corp. is pulling out of its Chinese joint venture with Baoshan Iron & Steel, ending a 20-year relationship.
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.
