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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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Faster Than a Speeding Bullet, Tesla's Cybertruck Is Also Impervious to Them, Thanks to Its Stainless Steel Construction

22 Nov 2019 - Ford Motor Co. rattled the steel industry back in 2014 when it debuted an aluminum-bodied version of the best-selling Ford F-150 pick-up. And now, it’s Tesla’s turn to shake up the automotive market with its electric Cybertruck, which was revealed Thursday.  

TMK Sees Revenue Dip in First Three Quarters of 2019

20 Nov 2019 - Revenues at Russian oil country tubular goods maker PAO TMK declined 4% through the first nine months of 2019 on account of reduced sales in North American and Europe, the company said Wednesday. 

Leaning Into Market Headwinds, Tata Steel Europe Proposes Major Restructuring

19 Nov 2019 - Tata Steel Europe plans to eliminate up to 3,000 jobs and boost sales of higher-value steels part of a broad restructuring brought about by a soggy European market. 

ArcelorMittal Halting Polish Blast Furnace, Steel Shop 

14 Nov 2019 - After delaying plans to temporarily idle the blast furnace and steel shop at its Krakow works, ArcelorMittal Poland is now moving ahead, saying that a softening steel market is forcing its hand. 

ArcelorMittal to Idle Indiana Blast Furnace 

13 Nov 2019 - ArcelorMittal has decided to put the No. 3 blast furnace at its Indiana Harbor works in Indiana on idle and await an improved market rather than undergo an expensive, near-term reline, reports The Times newspaper of northwest Indiana. 

Italian PM Promises to Block ArcelorMittal’s Ilva Exit

07 Nov 2019 - Italian Prime Minister Giuseppe Conte said he will not allow the world’s largest steelmaker to walk away from its agreement to acquire the country’s largest steel works and promised a vigorous court fight if it does. 

EUROFER Expects Weak Steel Demand Through Remainder of 2019

31 Oct 2019 - The downturn in European steel demand is likely to persist through the end of this year and into 2020, according to a new forecast from the European Steel Association.  

Report: Salzgitter to Idle Blast Furnace

28 Oct 2019 - Germany’s Salzgitter AG has become the latest European steelmaker to curtail production on account of the market downturn , reports commodities news and pricing provider Argus Media. 

EAFs May Dominate in the U.S., But They Can’t Yet Replace BFs, Says Iron Ore Executive 

23 Oct 2019 - Fears that U.S. blast furnaces face imminent extinction are “totally unrealistic,” the top executive at iron ore miner Cleveland-Cliffs Inc. said Wednesday. 

Report: Tata Steel Plans to Cut 2,500 Jobs in Europe 

23 Oct 2019 - Tata Steel Europe reportedly will eliminate 2,500 jobs in an effort to reduce costs in its European operations, India’s Business Standard newspaper reports. 

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