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Economy & Markets

The latest on the economy's health and the markets driving the supply and demand of steel.

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Schaeffler Announces Additional Job Cuts, Plant Consolidations

09 Nov 2016 - German roller bearings manufacturer Schaeffler said it plans to lay off 500 people and consolidate plants in Europe and the Americas as part of an expanded cost-cutting effort.

Capacity Boost May Be in Store for Indonesian Steel Complex

08 Nov 2016 - Indonesia’s Krakatau Steel and South Korea’s POSCO are thinking about expanding their steelmaking assets in the Indonesian province of Banten, possibly adding 3 million to 4 million tons of capacity, reports the The Jakarta Post.

Rally in Coal, Coke Prices Forces Chinese Mills to Slow Production

07 Nov 2016 - Some Chinese mills are throtling back production and taking early maintenance outages on account of a rally in coal and coke prices, reports the Reuters news service.

Weak Market Forces Union Electric to Consider Idling Roll Plant

02 Nov 2016 - Eight months after acquiring it, Union Electric Steel Corp. and parent Ampco-Pittsburgh have given notice that they might idle parts of the Åkers National Roll Co. plant in Pennsylvania due to market conditions.

TimkenSteel's Vertical Caster Surpassing Expectations

31 Oct 2016 - TimkenSteel is keeping its vertical jumbo-bloom caster as busy as possible, with about 45% percent of the steel melted at its Faircrest, Ohio, mill being cast on the machine, TimkenSteel chairman and chief executive Tim Timken said on Friday.

Alacero Forecasts Sees Steel Consumption on the Rise in 2017

27 Oct 2016 - Latin America’s steel consumption is expected to drop 6.5% this year, but is forecast to partially rebound in 2017 on growth in its major markets, according to the Latin American Steel Association.

Allegheny Technologies Moves to Permanently Shut Down Two Mills

27 Oct 2016 - Specialty metals producer Allegheny Technologies Inc. is permanently closing two idled mills in southwestern Pennsylvania, marking its exit from the grain-oriented electrical steel market and a step back from the commodity stainless market.

Canadian Legislators to Study Steel Dumping

24 Oct 2016 - A Canadian parliamentary committee is undertaking a study of the factors that are hindering the country’s steelmakers from competing internationally, including unfair trade.

Ferriola Confident Big River Won't Drain Nucor's Business

21 Oct 2016 - Nucor Corp. is prepared to battle start-up Big River Steel, and, in fact, believes it has the upper hand on its new competitor, Nucor chief executive John Ferriola said Thursday.

With Low Oil Prices, U.S. Mills Lose Relative Energy Advantage

04 Oct 2016 - Not only have falling oil prices lowered the demand for steel pipe and tube, they’ve dulled a cost advantage U.S. steel producers had over their counterparts elsewhere in the world, according to an industry consultant.

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