Steel News

Economy & Markets

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

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LME's New Steel Contracts Make Market Debut

23 Nov 2015 - The London Metal Exchange launched its new rebar and steel scrap contracts today, but so far there hasn’t been much interest, according to Reuters news service.

Ohio Steel Shop Temporarily Halting Production

19 Nov 2015 - U.S.-based Warren Steel Holdings is temporarily idling its plant in Warren, Ohio, citing “market conditions.”

Iron Ore Producer Might Impose Production Curtailments in Early 2016

18 Nov 2015 - U.S. iron ore producer Magnetation LLC has warned employees that it might curtail production at its No. 2 plant in Bovey, Minn., beginning on 31 January 2016.

Cliffs Natural Resources Idles Mine, Taconite Pellet Plant

18 Nov 2015 - Iron ore producer Cliffs Natural Resources Inc. is temporarily idling pellet production at its Northshore Mining operation in Minnesota, the company has announced.

Analysts: Cheap Debt Contributing to Steel's Oversupply

17 Nov 2015 - Inexpensive credit has allowed unprofitable production to be maintained, supporting the continued glut of steel on the market, according to analysts at financial services firm Macquarie Group.

Some Interest, But No Takers Yet for Tata Steel's European Division

17 Nov 2015 - Several parties reportedly have expressed interest in Tata Steel’s European long products division, although a deal doesn’t appear to be imminent, according to the Reuters news service.

World Steel Association Chairman: Europe Has Too Much Steelmaking Capacity

16 Nov 2015 - Europe has too much steelmaking capacity, and the industry likely will have to lop half of it over the next 15 years, World Steel Association chairman Wolfgang Eder told The (London) Telegraph newspaper.

Global Steel Markets Bottoming Out, Says Mill Executive

16 Nov 2015 - An executive at Japan’s largest scrap-based steelmaker said the global market is hitting a pricing bottom, arguing that loss-making mills are going to be confronting their commercial limits, according to BloombergBusiness.

Steelmakers Press for Action Against China Imports

13 Nov 2015 - Unfairly traded steel products exported to North America pose a serious and immediate threat to the industry, the leaders of several steelmakers said on Thursday.

Canadian Iron Ore Miner Trims Payroll

12 Nov 2015 - Canada’s New Millenium Iron Corp., which is sitting one of the world’s largest undeveloped magnetic iron ore deposits, is laying off six full-time employees, about 25 percent of its workforce, the company has announced.

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