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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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Trade Commission Moves Forward on U.S. Steel Corp. Complaint

27 May 2016 - The U.S. International Trade Commission will pursue United States Steel Corporation’s Section 337 trade complaint against the largest of Chinese steel producers, the commission has announced.

G7 Resolves to Address Global Steel Glut

27 May 2016 - Leaders of the world’s seven wealthiest countries promised on Friday that they would take steps to address global excess steelmaking capacity, reports the Reuters news service.

China Trying to Discourage Steel Exports, Industry Group Says

24 May 2016 - Exports of Chinese-made steel are being driven by market forces and rose last year in spite of government action intended to reduce incentives for selling overseas, the China Iron & Steel Association said, according to the Reuters news agency.

Iron Ore Producers Should Focus on the Long Term With China's Steel Mills, Says CISA

20 May 2016 - China Iron & Steel Association Secretary General Liu Zhenjiang said iron ore miners should seek longer-term, mutually beneficial supply deals with Chinese steel mills, instead to trying to turn a profit on short-term price increases, according to Platts.

Financing Costs, Used Auto Supply Likely to Restrain Growth in New Car Sales, Says SDI Executive

18 May 2016 - Steelmakers are continuing to look to the automotive market as source of healthy demand, but one steel executive said he’s not as bullish as others when it comes to auto sales forecasts in the U.S.

U.S. OCTG Market Remains a Good Long-Term Play, Says Tubemaker

18 May 2016 - Even with the U.S. rig count flirting with the 400 mark, TMK IPSCO chairman and chief executive Piotr Galitzine said long-term opportunities in America’s shale-based energy market remains.

Commerce Department Slaps Chinese Cold Rolled Steel With Duties of More than 500 Percent

18 May 2016 - The U.S. Department of Commerce is imposing duties of more than 500 percent on Chinese-made cold rolled steel, an action likely to ratchet up trade tensions between the countries.

Columbus Castings Files for Chapter 11 Bankruptcy

18 May 2016 - America’s largest single-site foundry and its parent company have filed for bankruptcy protection and the plant is to be sold to an unidentified buyer, according to Dow Jones Daily Bankruptcy Review.

Steel Industry Urged to Embrace Innovation, and Quickly

17 May 2016 - United States Steel Corporation chief executive Mario Longhi issued a challenge to the steel industry, saying that it must innovate or run the risk of being displaced by other materials.

UAE Investment Firm Plans New Rebar Mill

17 May 2016 - An investment firm that is partly owned by the United Arab Emirates has signed an agreement to build a 300,000 metric ton rebar plant, reports The National newspaper.

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