Economy & Markets
The latest on the economy's health and the markets driving the supply and demand of steel.
Latest News
U. S. Steel to Resume Fairfield EAF Installation
11 February 2019 - United States Steel Corporation will resume construction on the planned electric arc furnace at its Fairfield, Ala., USA, steel plant, the company said Monday.
ArcelorMittal Profits Up, But Sees Slower Growth Ahead
07 February 2019 - The world’s largest steelmaker recorded its largest full-year profit in nearly 10 years, but is forecasting that demand growth will slow in the U.S. and Europe and contract in China.
Seeing Improved Demand, U. S. Steel to Restart Idled Pipe Mill
05 February 2019 - United States Steel Corporation said on Monday that it is reactivating a Texas pipe mill and hiring 140 people.
Republic Steel Targets Q2 Restart of Lorain Bar Mill
23 January 2019 - Special bar quality (SBQ) maker Republic Steel is planning to restart its small bar rolling mill at its Lorain, Ohio, USA, plant in the second quarter, the company has announced.
India to Outpace U.S. Steel Consumption in 2019, Says Steel Minister
23 January 2019 - India is on track to overtake the United States in steel consumption this year, according to India Steel Minister Chaudhary Birender Singh.
GFG Alliance Completes Deal for U.S. Wire Rod Manufacturer
03 January 2019 - GFG Alliance has finalized its US$320 million acquisition of Keystone Consolidated Industries (KCI), a move that will help clear the way for a planned initial public offering, the company has announced.
Despite Uncertain Times, There's Still a Place for Port Talbot Works, Tata Steel Executive Says
03 January 2019 - Tata Steel Europe head Hans Fischer said he believes there is a future for the United Kingdom’s largest steel works, even after the country leaves the European Union, but cautioned that more work is needed to turn around the integrated facility.
Scrap Steel Consumption on the Rise in China
27 December 2018 - As new electric arc furnaces come on-line, China’s scrap steel use is expected to cross the 200-million-metric-ton threshold by 2020, if it hasn’t already, Argus Media reports.
Nucor, Steel Dynamics Forecast Record 2018 Earnings
18 December 2018 - Nucor Corp. and Steel Dynamics Inc. expect to report record full-year earnings in 2018 owing to the underlying strength in the steel markets and other factors, and both are looking for continued profitability in 2019, the companies have said.
Supported by Energy Market Rebound, Tenaris Restarts Texas Facility
25 October 2018 - Tenaris has restarted parts of an idled line pipe and OCTG mill in Conroe, Texas, citing improved market conditions.
To Avoid Tariffs, Metals Businesses Looking to Set Up Shop in U.S.
25 October 2018 - The Trump administration’s Section 232 tariffs on steel and aluminum is prompting some overseas companies to begin kicking around for acquisition targets as a way to avoid the tax, according to professional services firm PwC.
Global Steel Demand Predicted to Rise This Year
16 October 2018 - Worldwide steel demand is expected to grow 3.9% this year on the underlying health of developed and emerging economies, according to the World Steel Association.
How's Business? Very Good, U.S. Manufacturers Say
08 October 2018 - Buoyed by favorable polices and global economic health, U.S. manufacturers overwhelmingly say they are optimistic about the prospects for their businesses.
China Steel Executive Expects to See Iron Ore Demand Flatten Due to Scrap Displacement
21 September 2018 - China bought more than 1 billion metric tons of iron ore last year, but demand will likely plateau as a governmental push to reduce pollution drives a conversion in production routes, the Reuters news service reports.
Cleveland-Cliffs Expects Heavier Iron Ore Pellet Sales
23 July 2018 - Iron ore miner Cleveland-Cliffs Inc. has revised up its full-year sales forecast, saying that it now expects to sell 21 million long tons’ worth of pellets on account of healthy demand.
Revised CAFE Standards Probably Won't Hurt Demand for Auto Steel
25 June 2018 - The Trump administration’s proposal to roll back the 2025 vehicle fuel economy standards likely won’t have a significant impact on the market for lightweight automotive steels, according to a Nucor Corp. official.
Chinese Mills Begin Beefing Up Scrap Infrastructure
18 May 2018 - As China’s electric arc furnace capacity rises, Chinese steel mills are subsequently investing in scrap processing equipment, reports the Reuters news service.
Shares of Chinese Steelmakers Notch Down on Expectations of Rising Output
14 May 2018 - Rising production and falling steel prices have taken some of the financial sparkle off of China’s iron and steel industry, which had been benefiting from healthy demand and mill closures, reports the Bloomberg news service.
Danieli Sees Continuing U.S. Investment
09 May 2018 - For Italian equipment manufacturer Danieli, stable steel consumption in Europe and the U.S. is leading to contracts for upgrades and modernizations. However, conditions haven’t been right for expansive, capital-intensive projects, said Danieli board chairman Gianpietro Benedetti.
Section 232 Tariffs Jeopardize European Steel Recovery, EUROFER Says
08 May 2018 - New investment and steel exports helped support healthy steel demand in the EU last year, but the U.S. Section 232 tariffs potentially could offset the gains, according to the European Steel Association (EUROFER).
