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Economy & Markets
The latest on the economy's health and the markets driving the supply and demand of steel.
Latest News
Citing Demand, U. S. Steel to Reactivate Illinois Blast Furnace
04 December 2025 - United States Steel Corporation is preparing to restart an idled blast furnace at its Granite City Works in Illinois, the steelmaker announced Thursday.
Citing Tariffs, Ontario Steel Producer to Reduce Workforce
03 December 2025 - A Canadian steelmaker is laying off roughly one-third of its workforce as it grapples with U.S. steel tariffs and accelerates its transition to electric arc furnace steelmaking.
Report: Chinese Steel Production to Fall Short of 1B Metric Tons
19 November 2025 - China’s steel production likely will fall below 1 billion metric tons this year, the first time that has happened since 2019, the Reuters news service reports.
voestalpine Moves Forward With Cost-Cutting Plan
14 November 2025 - With no relief to challenging economic conditions in immediate sight, Austrian steelmaker voestalpine will press ahead with reorganization measures, reports the Reuters news service.
Cleveland-Cliffs, POSCO Developing Strategic Partnership
30 October 2025 - Cleveland-Cliffs Inc. on Thursday revealed that is moving to establish a strategic partnership with POSCO, South Korea’s largest steelmaker.
Algoma to Scale Back Coil Production, Speed Up EAF Conversion
30 October 2025 - Algoma Steel is accelerating its conversion to electric arc furnace (EAF) steelmaking and will curtail coil production as it attempts to counter the loss of access to the U.S. market.
Worldwide Steel Demand Could Rise in 2026, World Steel Association Says
16 October 2025 - The World Steel Association (worldsteel) is forecasting a stagnant year for global steel demand, with modest recovery to come in 2026.
BlueScope Browsing for Potential U.S. Cold Rolling Opportunities
21 August 2025 - North Star BlueScope Steel’s corporate parent is thinking about buying, rather than building, new sheet processing capabilities, chief executive officer Mark Vassella told The Wall Street Journal during an interview.
thyssenkrupp AG Approves Marine Business Spin-Off
08 August 2025 - During thyssenkrupp AG’s extraordinary general meeting today, the shareholders approved a new, independent systems provider for the maritime defense market to be established, TKMS AG & Co. KHaA.
Nucor Reports Earnings Increase Across Operating Segments
29 July 2025 - Nucor Corp. today announced the second quarter of 2025 saw an increase in earnings across all three operating segments and set another safety record.
SAIL to Supply Zojila Tunnel Project
21 July 2025 - India’s largest steelmaking Maharatna public sector undertaking, Steel Authority of India Ltd. (SAIL), will be the largest steel supplier for the Zojila Tunnel project, India’s longest road tunnel and Asia’s longest bidirectional tunnel.
Narendran: India Will See Significant, But Constrained, Growth
17 June 2025 - India’s steel production will likely reach 200 million to 250 million metric tons by the end of this decade, according to Tata Steel chief executive officer T V Narendran.
ArcelorMittal Announces Wire Drawing Mill Closure
12 June 2025 - ArcelorMittal Long Products Canada announced Wednesday it will be closing its wire drawing mill in Hamilton, Ont., Canada.
OECD Forecasts Sluggish Steel Demand Growth
29 May 2025 - Global steel demand is projected to rise 0.7% annually over the next five years, driven by consumption in the ASEAN countries and the Middle East and North Africa regions, according to a new projection from the Organisation for Economic Co-operation and Development.
thyssenkrupp Advances Strategic Transformation
29 May 2025 - Looking to the future, thyssenkrupp AG will become a holding company with majority ownership interests in stand-alone business units, the company has said.
Sensing a Changing Wind, Gerdau Cancels Mexican SBQ Project
04 May 2025 - Gerdau has dropped plans to build a 600,000-metric-ton special bar quality mill in Mexico, saying that the project is too risky because of anticipated shifts in the automotive supply market.
Survey: Metals Business Leaders Anticipate Economic Growth Under Trump
27 February 2025 - Nearly 70% of senior leaders at metal firms believe the Trump Administration's economic policies will positively impact GDP growth in 2025 and 2026, according to a newly released survey.
Outokumpu Decides Against U.S. Cold Rolling Expansion — For Now
13 February 2025 - Stainless steel producer Outokumpu is dropping plans to build new cold rolling capacity in the U.S. but instead is working to boost capacity at existing facilities, the company said Thursday.
SDI Reports Profitable Q4, Begins Commissioning of Aluminum Plant
23 January 2025 - Steel Dynamics Inc. (SDI) posted a fourth-quarter profit of US$1.36 per diluted share and said it expects to see healthy demand in the year ahead.
Hyundai Steel Sales to Outside Automakers Tops 20%
21 January 2025 - Hyundai Steel has reached a new sales milestone, selling more than 1 million metric tons of automotive sheet in 2024 to foreign automakers other than affiliates Hyundai and Kia, reports The Korea Economic Daily.
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