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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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U. S. Steel Leans into Market Headwinds

16 Sep 2022 - United States Steel Corporation expects to report adjusted net earnings of somewhere between US$1.90 and US$1.95 per diluted share this quarter, even as market headwinds begin to impact the business, the company has said.  

Nucor Anticipates Record Year, but Comparatively Lower Q3 Results 

15 Sep 2022 - Nucor Corp. expects its third-quarter earnings to fall roughly 13% year over year on lower shipments and prices at its steel mills. 

SDI Q3 Earnings Expected to Soften but Sees Underlying Demand Persist

15 Sep 2022 - Steel Dynamics Inc. expects its third-quarter earnings to drop roughly 23% from the prior three months due in part to lower average flat-rolled prices. 

ArcelorMittal Idles Two European Blast Furnaces

07 Sep 2022 - Softening demand and rising energy prices are prompting ArcelorMittal to idle two of its blast furnaces in Spain and Germany, according to a report. 

EUROFER: War, Energy Costs Darken Skies for European Steelmakers

25 Aug 2022 - European steelmakers are facing bleaker prospects this year owing to ongoing supply chain issues, the war in Ukraine and rising energy costs, the European Steel Association (EUROFER) said in its latest market outlook.

Goncalves: Electric Vehicle Makers Turning to Steel 

23 Aug 2022 - Material substitution is an ever-present threat for the steel industry, but it may have an edge in one particular market, according to Cleveland-Cliffs Inc. chief executive Lourenco Goncalves. 

BlueScope Steel Plants a Much Bigger Flag in the U.S. 

15 Aug 2022 - North Star BlueScope Steel has begun ramping up the addition to its Delta, Ohio, USA, plant after having produced the first prime coil in June, the company reports. 

EU Steel Producers Throttle Back Production

11 Aug 2022 - Softening demand, driven in part by lowered automotive production, has prompted a number of European steel producers to idle blast furnaces and other production assets, according to the Eurometal trade association. 

Gerdau Plans Capacity Boost at Texas Mill

04 Aug 2022 - Gerdau SA will invest approximately US$54.7 million to expand the capacity of its Midlothian, Texas, USA, bar mill, the company said in its second-quarter earnings release.

Report: China’s Steelmakers Have Difficult Financial Road Ahead

03 Aug 2022 - China’s steel industry is looking at some difficult times ahead as the country’s real estate market crisis unfolds, reports the Bloomberg news service.

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