Economy & Markets
The latest on the economy's health and the markets driving the supply and demand of steel.
Latest News
Nucor's Profits Rise in Second Quarter
21 July 2016 - Nucor Corp.’s second-quarter profit rose to US$233.8 million on and improving supply-side conditions, the company reported Thursday.
There's More to Be Done on Meeting Fuel-Efficicency Standards, and Steel Still Has a Role to Play, Government Report Says
20 July 2016 - A new government report estimates that the U.S. vehicle fleet will average between 50 and 52.6 mpg in model year 2025, short of the goal laid out by the Obama administration in 2012. Nevertheless, automakers have made strides in improving fuel efficiency and can do even better.
China Makes a Record Amount of Steel in June
15 July 2016 - Chinese steel mills produced crude steel at a rate of 2.32 million metric tons per day in June, making the month the busiest ever -- on a daily basis -- for the country’s steelmakers, reports the Bloomberg news service.
'We Must Fulfill the Plan to Cut Overcapacity of Steel,' Says China Economic Planner
14 July 2016 - Chinese officials reaffirmed the country's intentions to cut coal and steel production on Thursday as the American Iron & Steel Institute urged the U.S. government to vigorously enforce its trade laws.
Tenaris Announces Job Cuts at Arkansas Mill
11 July 2016 - Oil country tubular goods maker Tenaris is laying off approximately 100 people at its welded pipe mill in Arkansas, the company has announced.
China Threatens to Punish Provinces That Don't Follow Through on Capacity Cuts
08 July 2016 - China is telling its provincial governments that they’ll be “seriously punished” if they don’t close redundant steel mills and coal mines, according to the Bloomberg news service.
'Brexit' Puts the Brakes on Sale of Port Talbot Works
05 July 2016 - The uncertainty arising from the U.K.’s Brexit vote is prompting Tata Steel to pause the sale of its Port Talbot works, reports The (London) Sunday Times.
Steel Dynamics Expands SBQ Finishing Capabilities Through US$126M Deal
30 June 2016 - U.S.-based Steel Dynamics Inc. is acquiring America’s largest maker of threaded rod for US$126 million, the company announced on Thursday.
Workers Return to Idled U.S. Steel Corp. Mill
28 June 2016 - Steadily improving market condtions have allowed United States Steel Corp. to recall most of the laid-off employees at its East Chicago tin mill in northwest Indiana, reports The Times newspaper.
Proposed 10M-Ton Mill Wins Environmental Approval
27 June 2016 - The Indian government has given environmental clearances to an integrated steel plant that JSW Steel is proposing to build in the state of Jharkhand.
U.S. Trade Commission Upholds Duties on Corrosion-Resistant Steel
27 June 2016 - The U.S. International Trade Commission has affirmed that domestic producers are being harmed by imports of corrosion-resistant steel from five countries, including China.
Two Chinese Steelmakers Explore Mega-Merger
27 June 2016 - Baosteel Group Corp. and Wuhan Iron & Steel Group Corp., two of China’s largest steelmakers, are considering a merger, potentially creating a company that could rival No. 1 ArcelorMittal SA, according to reports.
Brexit Leaves Fate of Tata Steel U.K. All the More Uncertain
27 June 2016 - The United Kingdom’s vote to secede from the European Union will complicate Tata Steel's efforts to sell its U.K. strip business and may, in fact, give the company more of a reason to hold on to the business, according to reports.
Indian Coking Coal Demand Poised for Significant Increase
23 June 2016 - India’s coking coal demand is likely to increase by 45 percent by 2020 as the country looks to expand its steel production, according to The (India) Economic Times.
Nippon Steel Marks Start of Construction on U.S. Processing Plant
22 June 2016 - Nippon Steel & Sumitomo Metal Corp. has broken ground on a US$50 million wire rod processing plant in the state of Indiana.
Billiton Forecasts Increased Demand for Coking Coal
21 June 2016 - BHP Billiton Ltd. said it believes that a rise in steel production from emerging economies – India’s economy especially – will drive long-term demand growth for coking coal, reports the Bloomberg news service.
India Investment Program Expected to Generate Significant Steel Demand
16 June 2016 - Indian miners and steelmakers are likely to see significant new demand arising from Prime Minister Narendra Modi’s US$87 billion Make in India initiative, reports The (India) Economic Times.
China Steel Industry Sentiment Falls Steeply in June
13 June 2016 - Players in the Chinese steel market are increasingly pessimistic on the domestic industry’s outlook, as the S&P Global Platts China Steel Sentiment Index collapsed to a 16-month low in June.
Steel Market Conditions Prompt Mitsubishi Heavy Industries to Reduce Costs at Primetals Venture
13 June 2016 - In the face of a weak steel market, Mitsubishi Heavy Industries Ltd. is looking to cut costs at its Primetals Technologies venture, reports the Bloomberg news service.
Primetals, AIC Win Order for 500K Rebar Mill
09 June 2016 - Filipino rebar maker Capitol Steel Corp. has awarded a contract for a new bar rolling mill to Primetals Technologies and partner Automazioni Industriali Capitanio S.r.l. (AIC), according to Primetals.
