Economy & Markets
The latest on the economy's health and the markets driving the supply and demand of steel.
Latest News
Faster Than a Speeding Bullet, Tesla's Cybertruck Is Also Impervious to Them, Thanks to Its Stainless Steel Construction
22 November 2019 - Ford Motor Co. rattled the steel industry back in 2014 when it debuted an aluminum-bodied version of the best-selling Ford F-150 pick-up. And now, it’s Tesla’s turn to shake up the automotive market with its electric Cybertruck, which was revealed Thursday.
TMK Sees Revenue Dip in First Three Quarters of 2019
20 November 2019 - Revenues at Russian oil country tubular goods maker PAO TMK declined 4% through the first nine months of 2019 on account of reduced sales in North American and Europe, the company said Wednesday.
Leaning Into Market Headwinds, Tata Steel Europe Proposes Major Restructuring
19 November 2019 - Tata Steel Europe plans to eliminate up to 3,000 jobs and boost sales of higher-value steels part of a broad restructuring brought about by a soggy European market.
ArcelorMittal Halting Polish Blast Furnace, Steel Shop
14 November 2019 - After delaying plans to temporarily idle the blast furnace and steel shop at its Krakow works, ArcelorMittal Poland is now moving ahead, saying that a softening steel market is forcing its hand.
ArcelorMittal to Idle Indiana Blast Furnace
13 November 2019 - ArcelorMittal has decided to put the No. 3 blast furnace at its Indiana Harbor works in Indiana on idle and await an improved market rather than undergo an expensive, near-term reline, reports The Times newspaper of northwest Indiana.
Italian PM Promises to Block ArcelorMittal’s Ilva Exit
07 November 2019 - Italian Prime Minister Giuseppe Conte said he will not allow the world’s largest steelmaker to walk away from its agreement to acquire the country’s largest steel works and promised a vigorous court fight if it does.
EUROFER Expects Weak Steel Demand Through Remainder of 2019
31 October 2019 - The downturn in European steel demand is likely to persist through the end of this year and into 2020, according to a new forecast from the European Steel Association.
Report: Salzgitter to Idle Blast Furnace
28 October 2019 - Germany’s Salzgitter AG has become the latest European steelmaker to curtail production on account of the market downturn , reports commodities news and pricing provider Argus Media.
EAFs May Dominate in the U.S., But They Can’t Yet Replace BFs, Says Iron Ore Executive
23 October 2019 - Fears that U.S. blast furnaces face imminent extinction are “totally unrealistic,” the top executive at iron ore miner Cleveland-Cliffs Inc. said Wednesday.
Report: Tata Steel Plans to Cut 2,500 Jobs in Europe
23 October 2019 - Tata Steel Europe reportedly will eliminate 2,500 jobs in an effort to reduce costs in its European operations, India’s Business Standard newspaper reports.
U. S. Steel Idles Production Line at Minnesota Pellet Plant
22 October 2019 - United States Steel Corporation is idling a pellet line at its Minntac taconite plant in Mountain Iron, Minn., USA, on account of softening demand, reports The (Minneapolis, Minn.) Star Tribune newspaper.
World Steel Association: Global Steel Demand Up, But Declining in Most Regions
17 October 2019 - The World Steel Association has revised down its biannual demand forecast for most of the world’s regions, but is nevertheless projecting demand to rise globally on the strength in the Chinese construction market.
Midrex to Open New Location in Dubai
10 October 2019 - Over the last decade, the Middle East and North Africa (MENA) region has been home to some of the largest, most technologically advanced MIDREX® plants.
Chinese Scrap Imports Fall in August – to Zero
24 September 2019 - China in August did something it has not done at any time in the last 19 years – it did not import any scrap steel, a sign that the world’s largest steel-producing country could soon become a net exporter of scrap, reports the Bloomberg news service.
Nucor, SDI Say Lower Steel Prices Likely to Weigh on Q3 Profits
18 September 2019 - Steel Dynamics Inc. and Nucor Corp. are forecasting lower third-quarter profits on account of declining steel prices.
This Building Has No Rebar. But It Has Plenty of Steel.
10 September 2019 - A newly constructed 58-floor skyscraper in Seattle has been completed using a unique core wall system with no conventional rebar, reports the trade publication Concrete Products.
Tata Steel to Close U. K. Steel Mill
03 September 2019 - Unable to find a buyer for its Orb Electrical Steels operation in South Wales, and unwilling to roll the dice on a substantial upgrade, Tata Steel Europe will instead close the facility, the company has announced.
Import Pressure Forces ArcelorMittal, U. S. Steel to Reduce Tinplate Output
27 August 2019 - Citing competition from low-cost imports, United States Steel Corporation and ArcelorMittal USA are throttling back tinplate production, reports The Times newspaper of northwest Indiana.
JSW Steel USA Halts Construction on Baytown Expansion
22 August 2019 - JSW Steel USA has put their expansion plans for their Baytown, Texas., USA, steel works on hold, reports S&P Global Platts.
Imports, Lower Prices Weigh on ArcelorMittal in Q2
01 August 2019 - ArcelorMittal recorded a US$447 million loss in the second quarter and said it planned to divest US$2 billion in assets over the next two years.
