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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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Canadian Pipe Mill Undertakes Short-Term Layoffs

03 May 2016 - Evraz North America is laying off 90 employees at its 24-inch pipe mill in Regina, Canada, and may send home 49 others at its mill in Calgary, reports the Regina Leader-Post newspaper.

Restructuring Costs, Production Disruptions Contribute to Allegheny Technologies' First-Quarter Loss

27 Apr 2016 - Specialty metals producer Allegheny Technologies Inc. posted a net loss of US$101.2 million due to the ongoing market downturn, restructuring costs and the disruption caused by its now-ended lockout of the United Steelworkers union.

Losses Continue to Mount for United States Steel Corp.

26 Apr 2016 - United States Steel Corp. posted a first-quarter net loss of US$340 million on Tuesday and announced that it filed a Section 337 petition seeking to bar unfairly traded, Chinese-made steel products from entering the country.

Improvements in Flat Rolled Market Help Boost Steel Dynamics' Q1 Profits

21 Apr 2016 - U.S.-based Steel Dynamics Inc. doubled its first-quarter profits on greater shipments and improving market conditions, especially in its flat rolled business, the company reported Thursday.

Allegheny Technologies Sheds 250 White-Collar Jobs

20 Apr 2016 - Specialty steelmaker Allegheny Technologies Inc. is laying off roughly one-third of the salaried employees in its flat rolled division, lopping 250 positions from its payroll, the company has announced.

Steelmaking Countries Leave Brussels Without Agreement on Capacity Problem

19 Apr 2016 - The world’s largest steelmaking countries agree that there is more steel than the planet has use for, but they disagree on how to solve the problem and left a meeting in Belgium without having made any commitments to reduce it.

ThyssenKrupp CEO: We Want to Be a Part of European Steel Consolidation

15 Apr 2016 - If thyssenkrupp chief executive Heinrich Hiesinger had his druthers, the company would take part in a consolidation of Europe’s steel industry, perhaps getting together with Tata Steel’s European operation.

Kentucky Hopes to Prompt AK Steel to Relight Ashland Blast Furnace

15 Apr 2016 - Kentucky Gov. Matt Bevin has signed a bill meant to entice flat rolled maker AK Steel Corp. to relight the blast furnace at its Ashland Works, according to the Associated Press.

China Agrees to End Subsidy Program; Steel Executives Press for Aggressive Enforcement of Trade Laws

14 Apr 2016 - The U.S. has signed an agreement with China to end a disputed program that subsidized Chinese exports from seven sectors, one of which includes specialty steel.

Steelmakers Suggest Ways to Fight Excess Capacity During Hearing

12 Apr 2016 - Steelmakers, labor representatives and community leaders were in Washington, D.C., Tuesday to offer testimony about the impact of the world’s excess steel capacity and to suggest ways to combat the problem.

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