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Economy & Markets

The latest headlines on the state of the economy and markets driving the supply and demand of steel.

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Unions Agree to Wage Freeze, Job Cuts at Australian Steel Works

08 Oct 2015 - Employees at an Australian steel works have accepted concessions in a bid to keep the operation afloat.

U. S. Steel Considers Idling Flat Rolled Plant

07 Oct 2015 - United States Steel Corporation is thinking about consolidating its North American flat rolled division and has given notice that it may temporarily idle its Granite City Works in Illinois, according to reports.

U. S. Steel Canada Can’t Afford Pension Contributions, Court Monitor Says

06 Oct 2015 - The court-appointed monitor in U. S. Steel Canada's (USSC) creditor protection case is supporting the company's request to halt pension plan contributions and retiree benefits, but is opposing parent United States Steel Corporation's request to cease providing ministrative and support services for the company.

Thailand’s SSI Enters Bankruptcy, Liquidates British Steel Works

06 Oct 2015 - Thailand's top steelmaker has declared bankruptcy as it liquidates its U.K. steel division.

Update: Mexico Imposing Additional Trade Protections for Domestic Steelmakers

30 Sep 2015 - Mexico is increasing duties on a variety of steel products, hoping to shield domestic producers from inexpensive imports from China and other countries.

Larger Overseas Investments May Be in Nippon Steel’s Future

29 Sep 2015 - Tokyo-based Nippon Steel & Sumitomo Metal Corp. has an eye out for merger & acquisition opportunities as it looks to expand its global customer base, company president Kosei Shindo told Reuters during an interview.

Special Steel Manufacturer Put Into Administration

28 Sep 2015 - A U.K. special steel manufacturer has been placed in the hands of a court-appointed administrator while a buyer is sought for the business.

U.K.’s Second-Largest Steelmaker Closing English Steel Works

28 Sep 2015 - Thailand’s Sahaviriya Steel Industries (SSI) said it will mothball its Redcar steel works in Teesside, England, and lay off approximately 1,700 employees -- most of its workforce.

U.S. Trade Commission Pursues Cold Rolled Import Investigation

25 Sep 2015 - Producers from seven countries appear to be selling hot rolled coil at less than market value, undercutting American producers, the U.S. International Trade Commission (ITC) has ruled.

As SSI Falters, U.K. Steelmakers Ask for Government Support

25 Sep 2015 - British steelmakers and labor unions have called on government to offer more help to the industry in the wake of the production halt at SSI UK’s Redcar mill.

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