Economy & Markets
The latest on the economy's health and the markets driving the supply and demand of steel.
Latest News
BlueScope Steel Names New Chief Executive
21 August 2017 - Australia’s BlueScope Steel Ltd. has a named a company veteran to succeed chief executive Paul O’Malley, who is set to retire at the end of the year.
IMF: China's Steel Capacity Reductions Have Had 'Muted' Impact
15 August 2017 - The International Monetary Fund said China’s efforts to cut excess steel and coal capacity have had a "muted" impact on its production and that the country could stand to make more aggressive cuts.
Policy Fuels China's Rising Iron Ore, Steel Prices
08 August 2017 - Iron ore and steel prices are rising in China as government policies have helped to tighten supply and increase demand, reports the Bloomberg news service.
Tenaris Posts US$73 Million Profit on Rising North America Tube Sales
04 August 2017 - Tubemaker Tenaris SA saw sales of seamless and welded tube increase 31% to 624,000 tons in the second quarter, the company reported.
Higher Steel Prices Boost Q2 Profits at Steel Dynamics
20 July 2017 - Steel Dynamics Inc. saw its second-quarter profits rise 8.5% on higher average prices for its steel.
EUROFER Upbeat on Steel's Prospects for Remainder of Year
11 July 2017 - The European Union’s first-quarter apparent steel consumption rose 3.1% year-over-year and is expected to grow through the remainder of 2017, but U.S. steel trade policies could have “disastrous” consequences, according to EUROFER, the European Steel Association.
Nucor Anticipates Softer Second-Quarter Profits
15 June 2017 - Nucor Corp. said it expects its second-quarter earnings to fall short of its first-quarter results as competitive pressure mitigates profits.
Hot Demand From Solar Industry Prompts ArcelorMittal to Boost Production of Its Magnelis Steel
09 June 2017 - ArcelorMittal has expanded its capacity to make its Magnelis line of coated steel, adapting a hot-dipped galvanizing line in Spain to produce the product, the steelmaker has announced.
As Mills Close, China's Rebar Supply Tightens Up
05 June 2017 - The irony here is rich: China is experiencing a short-term shortage of rebar, according to the Bloomberg news service.
North American OCTG Demand Lifts TMK Profits
19 May 2017 - Russian tubemaker TMK posted a US$42 million profit in the first quarter of 2017, buoyed by an improving oil and gas market in North America.
So Far This Year, China Is Exporting Less Steel
08 May 2017 - China’s steel exports have declined 26% through the first third of the year, according to S&P Global Platts.
Steel M&A Picks Up as Prices Recover
08 May 2017 - Rebounding steel prices and capacity cuts in China have triggered a wave of mergers and acquisitions, and plants once considered worthless are now attracting attention from investors, reports the Reuters news service.
Bloomberg: Auto Sales Begin to Cool, But They Might Not Have Been Too Hot in the First Place
04 May 2017 - In the last few years, auto production has been a sustaining end market for steelmakers. But now, demand for cars and trucks might be starting to cool, as has been expected, reports the Bloomberg news service.
Coal Prices, China Capacity Pose Challenges for Japan's Steelmakers
28 April 2017 - Japan’s three top steelmakers are successfully passing along higher raw materials costs to customers, but challenges remain as they start a new fiscal year, reports the Nikkei Asian Review.
As Market Conditions Improve, Steelmakers Appear Ready to Invest
26 April 2017 - Steel prices and demand appear to beginning to recover, and steelmakers are starting to lay new bets on gradual improvement, reports the Bloomberg new service.
World Steel Association Revises Demand Forecast Upwards
21 April 2017 - Global steel demand is expected to rise 1.3% this year to an estimated 1.54 billion metric tons, according the latest short-range outlook from the World Steel Association.
Idled Canadian OCTG Mill to Restart This Summer
27 March 2017 - Tenaris Prudential said it will restart its idled tube mill this summer and plans to recall approximately 100 employees, the company has announced.
Rising Demand Prompts NLMK to Reactivate Hot-Dipped Galvanizing Line
06 February 2017 - NLMK’s U.S. division has restarted the No. 2 galvanizing line at its Sharon Coating plant in Pennsylvania, the steelmaker announced on Monday.
SMA: There's Reason to be Cautiously Optimistic About the Domestic Steel Industry
27 January 2017 - Representatives of the Steel Manufacturers Association said the industry is “cautiously optimistic” about its prospects under the Trump administration.
Great Lakes Iron Ore Shipments Increased in 2016
17 January 2017 - The Soo Locks, which are a vital link between Lake Superior and the other Great Lakes, have closed for annual maintenance, marking the end of the 2016 shipping season. And while overall cargo volumes were down, iron ore shipments increased 7.8 percent, reports the MLive news site.
