Economy & Markets
The latest on the economy's health and the markets driving the supply and demand of steel.
Latest News
Cliffs Natural Resources Moves Up Restart Schedule for Idled Mine
09 June 2016 - Iron ore miner Cliffs Natural Resources will reopen an idled Minnesota mine two months sooner than planned after securing third- and fourth-quarter orders from a new customer, the company announced on Thursday.
Nucor Joint Venture Eyes Mexican Auto Market
09 June 2016 - Nucor Corp. plans to build a US$270 million galvanized sheet mill in central Mexico through a new joint venture, the company has announced.
Some Doubt China Pledge To Curb Excess Steel Capacity
08 June 2016 - China has promised to cut down its enormous steelmaking capacity by limiting new mills, eliminating antiquated mills and putting a final end to the so-called "zombie" operations that have returned from the dead.
U.S. Official Rebukes China for Excess Steel Capacity
06 June 2016 - U.S. Treasury Secretary Jack Lew criticized China on Monday for enabling the steel glut, which has driven down prices and forced steelmakers to idle mills, reports The Washington Post.
U.S. Should Resolve Trade Disputes Through Discussion, Not Protectionist Measures, Says China Official
03 June 2016 - Barring Chinese-made steel from the U.S. market would be an abuse of trade remedies, Zhu Guangyao, China’s vice minister of finance, said on Thursday, according to Xinhua, the country’s official news agency.
Reports: U.K. Government May Loan Tata Steel Millions to Keep It from Leaving
03 June 2016 - Tata Steel, which in March announced that it no longer thought it could make steel profitably in the U.K. and would exit the market, may not leave after all.
Trade Commission Moves Forward on U.S. Steel Corp. Complaint
27 May 2016 - The U.S. International Trade Commission will pursue United States Steel Corporation’s Section 337 trade complaint against the largest of Chinese steel producers, the commission has announced.
G7 Resolves to Address Global Steel Glut
27 May 2016 - Leaders of the world’s seven wealthiest countries promised on Friday that they would take steps to address global excess steelmaking capacity, reports the Reuters news service.
China Trying to Discourage Steel Exports, Industry Group Says
24 May 2016 - Exports of Chinese-made steel are being driven by market forces and rose last year in spite of government action intended to reduce incentives for selling overseas, the China Iron & Steel Association said, according to the Reuters news agency.
Iron Ore Producers Should Focus on the Long Term With China's Steel Mills, Says CISA
20 May 2016 - China Iron & Steel Association Secretary General Liu Zhenjiang said iron ore miners should seek longer-term, mutually beneficial supply deals with Chinese steel mills, instead to trying to turn a profit on short-term price increases, according to Platts.
Financing Costs, Used Auto Supply Likely to Restrain Growth in New Car Sales, Says SDI Executive
18 May 2016 - Steelmakers are continuing to look to the automotive market as source of healthy demand, but one steel executive said he’s not as bullish as others when it comes to auto sales forecasts in the U.S.
U.S. OCTG Market Remains a Good Long-Term Play, Says Tubemaker
18 May 2016 - Even with the U.S. rig count flirting with the 400 mark, TMK IPSCO chairman and chief executive Piotr Galitzine said long-term opportunities in America’s shale-based energy market remains.
Commerce Department Slaps Chinese Cold Rolled Steel With Duties of More than 500 Percent
18 May 2016 - The U.S. Department of Commerce is imposing duties of more than 500 percent on Chinese-made cold rolled steel, an action likely to ratchet up trade tensions between the countries.
Columbus Castings Files for Chapter 11 Bankruptcy
18 May 2016 - America’s largest single-site foundry and its parent company have filed for bankruptcy protection and the plant is to be sold to an unidentified buyer, according to Dow Jones Daily Bankruptcy Review.
Steel Industry Urged to Embrace Innovation, and Quickly
17 May 2016 - United States Steel Corporation chief executive Mario Longhi issued a challenge to the steel industry, saying that it must innovate or run the risk of being displaced by other materials.
UAE Investment Firm Plans New Rebar Mill
17 May 2016 - An investment firm that is partly owned by the United Arab Emirates has signed an agreement to build a 300,000 metric ton rebar plant, reports The National newspaper.
Japan's No. 1 Steelmaker Strikes Deal to Buy Out Its No. 4 Rival
16 May 2016 - Japan’s largest steelmaker is acquiring a majority stake in the country’s fourth-largest producer, Nisshin Steel Co., as a defense against the supply glut, reports The Japan Times.
Producers, Buyers Ask U.S. Trade Commission to Quash U.S. Steel Complaint
15 May 2016 - China’s second-largest steelmaker – and some U.S. buyers – have told the U.S. International Trade Commission that it should reject United States Steel Corporation’s petition to bar imports of Chinese-made steel from entering the country, according to reports.
AIST's Annual Trade Show to See One of Its Best Turnouts
15 May 2016 - More than 7,500 people are expected to attend the Association for Iron & Steel Technology’s annual conference and exposition, AISTech, which informally opened Sunday in Pittsburgh, Pa.
G7 to Address Excess Steel Capacity
15 May 2016 - The world’s seven wealthiest countries may adopt measures to address the global steel glut during their upcoming summit in Japan, according to the Reuters news service.
