Steel News

Japanese Steelmakers Consider Increasing Electrical Steel Investment

07 December 2022 - Nippon Steel Corp. and JFE Steel Corp. are eying additional investments in electrical steels as demand for electric vehicles increases, according to the Bloomberg news service.

Lower Prices, Destocking Bite Into ArcelorMittal Q3 Profits

10 November 2022 - ArcelorMittal saw its third-quarter profits cut by more than 75% on reduced shipments and lower prices for those shipments.

War, Inflation Lead worldsteel to Revise Down Steel Demand Forecast

19 October 2022 - Global steel demand is expected to decline 2.3% this year as persistent inflation, rising interest rates and Russia’s invasion of Ukraine slow the worldwide economy, according to a new forecast from the World Steel Association (worldsteel).

Forecast: Renewable Energy Will Increase Global Steel Demand

04 October 2022 - New solar and wind farms are expected to drive new steel demand of 2% annually by 2030 and 4% by 2050, according to a new forecast from iron ore miner BHP Group Ltd.

U. S. Steel Leans into Market Headwinds

16 September 2022 - United States Steel Corporation expects to report adjusted net earnings of somewhere between US$1.90 and US$1.95 per diluted share this quarter, even as market headwinds begin to impact the business, the company has said.

Nucor Anticipates Record Year, but Comparatively Lower Q3 Results

15 September 2022 - Nucor Corp. expects its third-quarter earnings to fall roughly 13% year over year on lower shipments and prices at its steel mills.

SDI Q3 Earnings Expected to Soften but Sees Underlying Demand Persist

15 September 2022 - Steel Dynamics Inc. expects its third-quarter earnings to drop roughly 23% from the prior three months due in part to lower average flat-rolled prices.

ArcelorMittal Idles Two European Blast Furnaces

07 September 2022 - Softening demand and rising energy prices are prompting ArcelorMittal to idle two of its blast furnaces in Spain and Germany, according to a report.

EUROFER: War, Energy Costs Darken Skies for European Steelmakers

25 August 2022 - European steelmakers are facing bleaker prospects this year owing to ongoing supply chain issues, the war in Ukraine and rising energy costs, the European Steel Association (EUROFER) said in its latest market outlook.

Goncalves: Electric Vehicle Makers Turning to Steel

23 August 2022 - Material substitution is an ever-present threat for the steel industry, but it may have an edge in one particular market, according to Cleveland-Cliffs Inc. chief executive Lourenco Goncalves.

BlueScope Steel Plants a Much Bigger Flag in the U.S.

15 August 2022 - North Star BlueScope Steel has begun ramping up the addition to its Delta, Ohio, USA, plant after having produced the first prime coil in June, the company reports.

EU Steel Producers Throttle Back Production

11 August 2022 - Softening demand, driven in part by lowered automotive production, has prompted a number of European steel producers to idle blast furnaces and other production assets, according to the Eurometal trade association.

Gerdau Plans Capacity Boost at Texas Mill

04 August 2022 - Gerdau SA will invest approximately US$54.7 million to expand the capacity of its Midlothian, Texas, USA, bar mill, the company said in its second-quarter earnings release.

Report: China’s Steelmakers Have Difficult Financial Road Ahead

03 August 2022 - China’s steel industry is looking at some difficult times ahead as the country’s real estate market crisis unfolds, reports the Bloomberg news service.

Stelco Q2 Shipments Appear Bright, but the Company Sees Clouds on the Horizon

25 July 2022 - Stelco expects its second-quarter shipments to increase more than 10% over the prior quarter, pushing up profits, but the company anticipates headwinds in the form of declining steel prices in the remaining half of the fiscal year.

Cliffs: Pent-Up Auto Demand Is Increasing, and So Will Its Bottom Line

22 July 2022 - Cleveland-Cliffs Inc.’s second-quarter profits declined 24% as increased prices for natural gas, electricity, scrap and alloys as well as other one-time charges tamped down earnings.

China Sees Falling Steel Demand, Rising Inventories

07 July 2022 - China’s steel inventories have swelled to 23% more than year-ago levels as producers raise alarms over weakening demand, reports the Bloomberg news service.

SMS group Incoming Orders Reach 10-Year High

23 June 2022 - Mill equipment manufacturer SMS group said its order intake rose to its highest level in a decade, reaching EU3.5 billion in fiscal 2021.

McKinsey: European Steelmakers Might Have to Re-Examine DRI Investments

21 June 2022 - European steelmakers who have natural-gas-fired direct reduction plants in their decarbonization plans might have to rethink those investments due to the Russia-Ukraine war, according to a new report.

Commercial Metals Company Forecasts Healthy Steel Demand

20 June 2022 - Fears of a recession to the contrary, Commercial Metals Company (CMC) executives said demand for rebar and other construction steels appears healthy.