Steel News

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.

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.