Economy & Markets
The latest on the economy's health and the markets driving the supply and demand of steel.
Latest News
Report: Investors Hope to Bring Mill to Southern Florida
06 May 2018 - A group of local investors are trying to establish an electric arc furnace-based mill in southeastern Florida, the Miami Herald reports.
Looking to the Future, Tenaris to Consider Texas Expansion
03 May 2018 - Tenaris is ramping up its new seamless tube mill in Texas, but might eventually look to expand to the operation, reports the Houston Chronicle’s FuelFix blog.
Don't Count the Blast Furnace Route Out, Says ArcelorMittal Executive
26 April 2018 - Even though scrap-based steelmaking is growing, demand for steel's basic raw materials – coking coal, coke and iron ore – will be supported by new blast furnace capacity in some parts of the world, an ArcelorMittal executive said.
Here's How Much the World Steel Association Expects Demand to Grow This Year
18 April 2018 - Momentum in the global economic recovery is forecasted to lift worldwide steel demand by 1.8% this year, according to the World Steel Association.
Consultant: New Oil, Gas Wells Will Be Plentiful, Deeper and Steel Intensive
20 March 2018 - U.S. oil and gas exploration companies are forecast to drill around 16,000 new wells annually over the next five years, supporting demand for oil country tubular goods and line pipe, according to S&P Global Platts consultant Nicole Leonard.
TMK IPSCO Launches IPO, Aims to Raise More than US$465M
30 January 2018 - The American arm of Russian tubemaker PAO TMK has launched its initial public offering at US$20 to US$23 per share.
Mittal: Steel May See Better Times Over the Next Several Years
01 December 2017 - The steel industry recovery might be a “multiyear phenomena,” ArcelorMittal chief financial officer Aditya Mittal tells Bloomberg news service.
Healthier Markets Push Up Gerdau's Q3 Profits
13 November 2017 - Rising shipments and increased and sales, along with a companywide effort to reduce costs, lifted Gerdau SA’s third-quarter profits by 53%, the company reported.
Improved Market Lifts ArcelorMittal's Q3 Profits
10 November 2017 - The world’s largest steelmaker saw its third-quarter profits rise 75% on higher sales and shipments, ArcleorMittal reported on Friday.
Accumulating Scrap in China Could Reduce Demand for Coal, Coke
09 November 2017 - China’s scrap reservoir could more than double over the next eight years and enable a rise in electric arc furnace steelmaking – and drive a reduction in iron ore, coal and coke demand, according to Joseph Poveromo, president of Raw Materials & Ironmaking Global Consulting.
Imports Dampen Nucor Earnings
20 October 2017 - Nucor Corp. saw its third-quarter profits reduced by 12% as import pressures prevented it from recovering rising raw material costs, the steelmaker said Thursday .
Improved Sales Lift Cleveland-Cliffs Q3 Profits
20 October 2017 - Iron ore miner Cleveland-Cliffs Inc. posted a profitable third quarter on better demand and prices.
Steel Imports, Refinancing Mute Steel Dynamics' Q3 Profits
19 October 2017 - Third-quarter profits at Steel Dynamics Inc. slipped 2.5% on costs associated with debt refinancing and competition from imports, which limited price increases, the company announced Thursday.
Forecast: The World Will Demand More Steel in 2018
16 October 2017 - Global steel demand is projected to reach 1.62 billion tons this year and grow 1.6% in the following year, according to a new short-range forecast from the World Steel Association.
Report: The World Still Has Too Much Steel Capacity
11 October 2017 - The steel industry has about 330 million metric tons of capacity to spare, with more set to come on-line within the next two years, reports the Reuters news service.
Steel Dynamics' Third-Quarter Earnings Expected to Miss Forecast
20 September 2017 - Steel Dynamics Inc. said it expects to report third-quarter earnings of between 61 cents and 65 cents per share, missing analysts’ expectations.
Chinese Steel Production Sets August Record
14 September 2017 - China’s steel output climbed to another new monthly record in August as mills cranked out 74.59 million metric tons, reports the Bloomberg news service.
Moody's: U.S. Steel Market is 'Stable'
08 September 2017 - Credit ratings agency Moody’s has given the U.S. steel industry a stable forecast over the next 12 to 18 months on improved capacity utilization, higher prices and better demand in some end markets.
Concrete Poses Solid Competition to Steel
30 August 2017 - As a building material, steel is facing increasing competition from concrete, partly on account of its better fire resistance. But the industry is taking steps to resharpen steel's edge as the go-to material for buildings and bridges, reports the Bloomberg news service.
Mills Grapple With Graphite Electrode Shortage
22 August 2017 - Tight supplies of a key material and rising electric arc furnace steel production are crimping availability of graphite electrodes, sending prices through the roof, according to news and pricing service S&P Global Platts.
