Steel News

Analyst: U.S. Integrated Mills Now Among the Costliest Operations

27 October 2015 - Falling prices of seaborne coking coal and iron ore, along with other factors, have pushed America's integrated steel mills up the global cost curve, CRU senior consultant Adrian Doyle said on Tuesday.

Infrastructure Spending Not a Panacea for Steel Demand, Says SDI Executive

26 October 2015 - Despite a school of thought that says otherwise, an increase in public spending on America's crumbling infrastructure likely won't do much to lift steel demand, according to Steel Dynamics Inc. (SDI) Vice President Christopher A. Graham.

Analyst: Chinese Steel Demand Will Again Grow, But at a Much Slower Pace

26 October 2015 - The best days of Chinese demand for steel may be over, but it will likely resume growth in the next decade, according to CRU research manager Chris Houlden.

Universal Stainless' Net Sales Expected to Drop 19 Percent

16 October 2015 - Specialty steelmaker Universal Stainless & Alloy Products Inc. said that it expects to record a third-quarter loss of US$2.40 to US$2.45 per share, partly on account of costs associated with throttling back production.

AK Steel Temporarily Idles Kentucky Steel Works

16 October 2015 - U.S.-based AK Steel Corp. is idling the blast furnace and other steelmaking operations at its Ashland Works in Kentucky, the company has announced.

Analyst: Despite Cost-Cutting Measures, Steel Works Unlikely to Remain Open

09 October 2015 - Wage freezes and layoffs will delay, but likely won’t prevent, the eventual closure of BlueScope Steel Ltd.’s Port Kembla works, according to a Deutsche Bank analyst.

Unions Agree to Wage Freeze, Job Cuts at Australian Steel Works

08 October 2015 - Employees at an Australian steel works have accepted concessions in a bid to keep the operation afloat.

U. S. Steel Considers Idling Flat Rolled Plant

07 October 2015 - United States Steel Corporation is thinking about consolidating its North American flat rolled division and has given notice that it may temporarily idle its Granite City Works in Illinois, according to reports.

U. S. Steel Canada Can’t Afford Pension Contributions, Court Monitor Says

06 October 2015 - The court-appointed monitor in U. S. Steel Canada's (USSC) creditor protection case is supporting the company's request to halt pension plan contributions and retiree benefits, but is opposing parent United States Steel Corporation's request to cease providing ministrative and support services for the company.

Thailand’s SSI Enters Bankruptcy, Liquidates British Steel Works

06 October 2015 - Thailand's top steelmaker has declared bankruptcy as it liquidates its U.K. steel division.

Update: Mexico Imposing Additional Trade Protections for Domestic Steelmakers

30 September 2015 - Mexico is increasing duties on a variety of steel products, hoping to shield domestic producers from inexpensive imports from China and other countries.

Larger Overseas Investments May Be in Nippon Steel’s Future

29 September 2015 - Tokyo-based Nippon Steel & Sumitomo Metal Corp. has an eye out for merger and acquisition opportunities as it looks to expand its global customer base, company president Kosei Shindo told Reuters during an interview.

Special Steel Manufacturer Put Into Administration

28 September 2015 - A U.K. special steel manufacturer has been placed in the hands of a court-appointed administrator while a buyer is sought for the business.

U.K.’s Second-Largest Steelmaker Closing English Steel Works

28 September 2015 - Thailand’s Sahaviriya Steel Industries (SSI) said it will mothball its Redcar steel works in Teesside, England, and lay off approximately 1,700 employees -- most of its workforce.

U.S. Trade Commission Pursues Cold Rolled Import Investigation

25 September 2015 - Producers from seven countries appear to be selling hot rolled coil at less than market value, undercutting American producers, the U.S. International Trade Commission (ITC) has ruled.

As SSI Falters, U.K. Steelmakers Ask for Government Support

25 September 2015 - British steelmakers and labor unions have called on government to offer more help to the industry in the wake of the production halt at SSI UK’s Redcar mill.

Indian Steel Ministry Asks Producers to Consider Iranian Investments

22 September 2015 - India’s steel ministry has asked domestic producers to consider making capital investments in Iran, which is extending its rail network and expanding ports and highways, according to The Indian Express newspaper.

Four Appointed to LME's Steel Committee

22 September 2015 - The London Metal Exchange (LME) has added four members to its steel committee as it prepares to launch new contracts for steel scrap rebar in November, the exchange has announced.

SSI Suspends Production at U.K. Mill, Undertakes Debt Restructuring

21 September 2015 - Thailand's Sahaviriya Steel Industries (SSI) and three main creditors said they will attempt to restructure THB50 billion (US$1.4 billion) in debt to repair the steelmaker’s balance sheet, Reuters reported.

Report: EU To Set Minimum Price On GOES Imports

21 September 2015 - The European Union is preparing to set a minimum price on imports of a specialized steel from five countries, including the United States, according to Reuters.