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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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Chinese Steel Production Proving Difficult to Curb

27 Sep 2016 - If China really intends to cut its excess steelmaking capacity, then the effort is off to a lousy start, reports the Bloomberg news service.

Steel Dynamics Forecasts Rising Q3 Profits

20 Sep 2016 - U.S.-based Steel Dynamics Inc. said it expects to double its third-quarter per-share profit due to a widening gap between average steel prices and scrap costs.

Nucor Forecasts Rising Third-Quarter Earnings

15 Sep 2016 - Nucor Corp. said it expects to report third-quarter net earnings of between US$0.85 and US$0.90 per diluted share partly on account of improved profitability at its sheet mills and lessening pressure from imported products.

Amid Recession, Long Products Maker Gerdau Sending More Flat Steel Overseas

15 Sep 2016 - With the Brazilian economy in a deep recession, Gerdau SA is looking to sell flat steel into foreign markets, and is finding success.

Tenaris Plans November Restart of Idled Tube Mill

15 Sep 2016 - Tenaris plans to restart its idled seamless mill in Ontario, Canada, and is recalling between 120 and 150 union workers, the company has announced.

SAIL Records Fifth Straight Quarterly Loss, Forecasts Increasing Steel Demand

09 Sep 2016 - India’s largest steelmaker lost US$81 million in the first quarter of its fiscal year, but is forecasting increasing demand and is advancing plans to boost capacity, reports the Bloomberg news service.

G20 Nations Pledge to Address Excess Steel Capacity

06 Sep 2016 - Leaders at the G-20 summit in China have agreed to create a group that will promote discussion and cooperation amongst nations on the world’s excess steelmaking capacity.

Blaming Soft Plate Market, Essar Algoma Cuts Workforce

06 Sep 2016 - Canada’s Essar Steel Algoma is laying off more than six dozen employees owing to weakness in the plate markets, reports the online SooToday.com.

Steel Not on the G-20 Agenda for China

30 Aug 2016 - China is keen on discussing its financial reforms during the upcoming Group of 20 summit – and less so on talking about the world’s excess steelmaking capacity, reports The Nikkei Asian Review.

Hebei Iron & Steel Begins Boosting Sales, Production at Serbian Mill

30 Aug 2016 - Nearly two months after acquiring Serbia’s ailing Železara Smederevo steel works, Hebei Iron & Steel has managed to lift the facility’s monthly sales and is targeting 1.7 million tons of production in 2017, reports Xinhua, China’s official news agency.

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