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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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Temporary Mill Shutdowns in China May Halt Advancing Iron Ore Prices

25 Aug 2016 - Amid reports of orders for Chinese mills to shut down during the G20 summit in Hangzhou early next month, iron ore traders are likely to be keeping a close eye on the markets for signs of a retreat in prices.

United Steelworkers, Others Pressing Canadian Federal Government to Support Steel Industry

22 Aug 2016 - Calls are mounting for the Canadian federal government to step off the sidelines and take action in support of Canada’s steel industry and its employees, both retired and active, reports The Hamilton Spectator newspaper.

Aided by Its North American Sheet Mill, BlueScope's Fortunes Rise in Fiscal 2016

22 Aug 2016 - Australia’s BlueScope Steel more than doubled its underlying net profits in fiscal 2016 due in part to higher sales and cost reductions as well as to having taken full ownership of its U.S. sheet mill.

EVRAZ Sees North American Sales for Rail, Tube Decline

19 Aug 2016 - Russia’s EVRAZ saw its sales fall nearly 28 percent in the first half of 2016, primarily on lower prices and weaker demand. But the second quarter brought about improving conditions, and the company is therefore “cautiously optimistic” about the second half, it said on Thursday.

Report: The World's Biggest Steelmakers Owe More Than US$150B

18 Aug 2016 - The world’s 30 largest steelmakers are collectively saddled with net debts of US$150 billion, an average of US$5 billion apiece, and some steelmakers appear to be on the verge of bankruptcy, according to professional services firm Ernst & Young.

Gerdau to Idle Kentucky Bar Mill

17 Aug 2016 - Gerdau is planning to idle its Calvert City, Ky., USA, bar mill by the end of November, blaming the world’s excess steelmaking capacity, according to reports.

Bloomberg: China Falling Behind on Capacity Reduction Goal

16 Aug 2016 - A recent upturn in coal and steel prices is testing the determination of Chinese provinces and companies to cut excess capacity, and, in fact, have put the country behind early goals for doing so, according to the Bloomberg news service.

Report: Steel's Recovery Might Already Be Running Out of Gas

15 Aug 2016 - Despite signs of growth in 2016, the steel industry continues to face the same problems -- a glut of capacity throughout the world and high export volumes from China. And that is leading some to question the sustainability of the current recovery, reports the Bloomberg news service.

India Extends Import Protections on Certain Steels for Another 60 Days

08 Aug 2016 - The Indian government has extended its import price floor for certain steel products by an additional two months, reports The (India) Economic Times.

Report: China Weighing Plan to Combine Steelmakers

02 Aug 2016 - Chinese officials are thinking about consolidating some of the country’s largest steelmakers into two behemoth companies, according to the Bloomberg news service.

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