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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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SDI Achieves Record Profitability in 2022

25 Jan 2023 - 2022 was a banner year for Steel Dynamics Inc. as the U.S. steelmaker posted record net sales, profits and shipments.

CMC Sees Spring Start for Arizona Micro-Mill

12 Jan 2023 - Long products maker Commercial Metals Company (CMC) is building out crews and training them as it begins commissioning equipment at its new Arizona micro-mill, the company’s chief executive said Monday. 

Lower Prices, Shipments Likely to Dent Algoma Q3 Earnings

11 Jan 2023 - Canada’s Algoma Steel Inc. said Tuesday it expects to report a fiscal Q3 adjusted loss before interest, taxes, depreciation and amortization of between CA$35 million and CA$45 million due to lower plate shipments, softer steel prices and routine, seasonal maintenance work. 

Healthy Demand Pushes Up CMC’s Q1 Profits 

09 Jan 2023 - Long products maker Commercial Metals Company (CMC) saw its fiscal first quarter profits rise 12% due in part to strength in North American demand, the company said on Monday. 

Steel Dynamics Expects Q4 Earnings to Decline

16 Dec 2022 - Steel Dynamics Inc. (SDI) is forecasting its fourth-quarter earnings to fall roughly 39% over the prior year due in part to tightening metal spreads, especially at its flat-rolled operations. 

Nucor Expects Q4 Earnings to Slide, Announces Expansion of Steel Towers Business

16 Dec 2022 - Nucor Corp. expects its fourth-quarter earnings to fall roughly 45% due in part to lower volumes and lower average selling prices, the company said on Thursday. 

Japanese Steelmakers Consider Increasing Electrical Steel Investment

07 Dec 2022 - Nippon Steel Corp. and JFE Steel Corp. are eying additional investments in electrical steels as demand for electric vehicles increases, according to the Bloomberg news service. 

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