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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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POSCO Earnings Miss Analysts' Estimates

22 Jul 2016 - POSCO recorded an operating profit of US$597.7 million between April and June, falling short of analysts’ expectations, according to the Reuters news service.

Nucor Executives See Much Potential in Texas Plate Mill Acquisition

21 Jul 2016 - Nucor executives are upbeat about the company’s US$29 million investment in a Texas plate mill, saying it is a well-run, well-equipped facility that will give Nucor access to new value-added niche markets.

Nucor's Profits Rise in Second Quarter

21 Jul 2016 - Nucor Corp.’s second-quarter profit rose to US$233.8 million on and improving supply-side conditions, the company reported Thursday.

There's More to Be Done on Meeting Fuel-Efficicency Standards, and Steel Still Has a Role to Play, Government Report Says

20 Jul 2016 - A new government report estimates that the U.S. vehicle fleet will average between 50 and 52.6 mpg in model year 2025, short of the goal laid out by the Obama administration in 2012. Nevertheless, automakers have made strides in improving fuel efficiency and can do even better.

China Makes a Record Amount of Steel in June

15 Jul 2016 - Chinese steel mills produced crude steel at a rate of 2.32 million metric tons per day in June, making the month the busiest ever -- on a daily basis -- for the country’s steelmakers, reports the Bloomberg news service.

'We Must Fulfill the Plan to Cut Overcapacity of Steel,' Says China Economic Planner

14 Jul 2016 - Chinese officials reaffirmed the country's intentions to cut coal and steel production on Thursday as the American Iron & Steel Institute urged the U.S. government to vigorously enforce its trade laws.

Tenaris Announces Job Cuts at Arkansas Mill

11 Jul 2016 - Oil country tubular goods maker Tenaris is laying off approximately 100 people at its welded pipe mill in Arkansas, the company has announced.

China Threatens to Punish Provinces That Don't Follow Through on Capacity Cuts

08 Jul 2016 - China is telling its provincial governments that they’ll be “seriously punished” if they don’t close redundant steel mills and coal mines, according to the Bloomberg news service.

'Brexit' Puts the Brakes on Sale of Port Talbot Works

05 Jul 2016 - The uncertainty arising from the U.K.’s Brexit vote is prompting Tata Steel to pause the sale of its Port Talbot works, reports The (London) Sunday Times.

Steel Dynamics Expands SBQ Finishing Capabilities Through US$126M Deal

30 Jun 2016 - U.S.-based Steel Dynamics Inc. is acquiring America’s largest maker of threaded rod for US$126 million, the company announced on Thursday.

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