Economy & Markets
The latest on the economy's health and the markets driving the supply and demand of steel.
Latest News
U.S. Crude Steel Production Expected to Rise in 2017
28 December 2016 - U.S. crude steel production is expected to rise by around 4.4% in 2017, reports the (London) Financial Times newspaper.
U.S. Steel to Close Tube Lines at Ohio, Texas Plants
21 December 2016 - United States Steel Corp. is permanently closing one of the two seamless tube mills at its Lorain, Ohio, plant and a welded tube mill at its Lone Star, Texas, plant, reports The Times newspaper of northwest Indiana.
Schaeffler Announces Additional Job Cuts, Plant Consolidations
09 November 2016 - German roller bearings manufacturer Schaeffler said it plans to lay off 500 people and consolidate plants in Europe and the Americas as part of an expanded cost-cutting effort.
Capacity Boost May Be in Store for Indonesian Steel Complex
08 November 2016 - Indonesia’s Krakatau Steel and South Korea’s POSCO are thinking about expanding their steelmaking assets in the Indonesian province of Banten, possibly adding 3 million to 4 million tons of capacity, reports the The Jakarta Post.
Rally in Coal, Coke Prices Forces Chinese Mills to Slow Production
07 November 2016 - Some Chinese mills are throtling back production and taking early maintenance outages on account of a rally in coal and coke prices, reports the Reuters news service.
Weak Market Forces Union Electric to Consider Idling Roll Plant
02 November 2016 - Eight months after acquiring it, Union Electric Steel Corp. and parent Ampco-Pittsburgh have given notice that they might idle parts of the Åkers National Roll Co. plant in Pennsylvania due to market conditions.
TimkenSteel's Vertical Caster Surpassing Expectations
31 October 2016 - TimkenSteel is keeping its vertical jumbo-bloom caster as busy as possible, with about 45% percent of the steel melted at its Faircrest, Ohio, mill being cast on the machine, TimkenSteel chairman and chief executive Tim Timken said on Friday.
Alacero Forecasts Sees Steel Consumption on the Rise in 2017
27 October 2016 - Latin America’s steel consumption is expected to drop 6.5% this year, but is forecast to partially rebound in 2017 on growth in its major markets, according to the Latin American Steel Association.
Allegheny Technologies Moves to Permanently Shut Down Two Mills
27 October 2016 - Specialty metals producer Allegheny Technologies Inc. is permanently closing two idled mills in southwestern Pennsylvania, marking its exit from the grain-oriented electrical steel market and a step back from the commodity stainless market.
Canadian Legislators to Study Steel Dumping
24 October 2016 - A Canadian parliamentary committee is undertaking a study of the factors that are hindering the country’s steelmakers from competing internationally, including unfair trade.
Ferriola Confident Big River Won't Drain Nucor's Business
21 October 2016 - Nucor Corp. is prepared to battle start-up Big River Steel, and, in fact, believes it has the upper hand on its new competitor, Nucor chief executive John Ferriola said Thursday.
With Low Oil Prices, U.S. Mills Lose Relative Energy Advantage
04 October 2016 - Not only have falling oil prices lowered the demand for steel pipe and tube, they’ve dulled a cost advantage U.S. steel producers had over their counterparts elsewhere in the world, according to an industry consultant.
Steel Construction Expected to Soften in 2017
04 October 2016 - There are many adjectives that will adequately describe the state of the steel construction markets in 2017, and none of them are particularly good, at least as the American Institute of Steel Construction sees it.
Analyst: Expect Tighter Competition in U.S. Sheet Market
04 October 2016 - Supply-side competition in the U.S. sheet market is likely to stiffen in the year ahead as new players enter the market and others become more aggressive, according to one analysts.
Chinese Steel Production Proving Difficult to Curb
27 September 2016 - If China really intends to cut its excess steelmaking capacity, then the effort is off to a lousy start, reports the Bloomberg news service.
Steel Dynamics Forecasts Rising Q3 Profits
20 September 2016 - U.S.-based Steel Dynamics Inc. said it expects to double its third-quarter per-share profit due to a widening gap between average steel prices and scrap costs.
Nucor Forecasts Rising Third-Quarter Earnings
15 September 2016 - Nucor Corp. said it expects to report third-quarter net earnings of between US$0.85 and US$0.90 per diluted share partly on account of improved profitability at its sheet mills and lessening pressure from imported products.
Amid Recession, Long Products Maker Gerdau Sending More Flat Steel Overseas
15 September 2016 - With the Brazilian economy in a deep recession, Gerdau SA is looking to sell flat steel into foreign markets, and is finding success.
Tenaris Plans November Restart of Idled Tube Mill
15 September 2016 - Tenaris plans to restart its idled seamless mill in Ontario, Canada, and is recalling between 120 and 150 union workers, the company has announced.
SAIL Records Fifth Straight Quarterly Loss, Forecasts Increasing Steel Demand
09 September 2016 - India’s largest steelmaker lost US$81 million in the first quarter of its fiscal year, but is forecasting increasing demand and is advancing plans to boost capacity, reports the Bloomberg news service.
