Economy & Markets
The latest on the economy's health and the markets driving the supply and demand of steel.
Latest News
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.
Steel Prices Rebound, and Chinese Mills Restart
11 May 2016 - As steel prices rebound, Chinese mills that were shut down are returning to life and resuming production, despite global wishes for the country to cut its excess capacity.
Steel Associations Urge China to Continue Discussing Global Excess Capacity
09 May 2016 - Ten steel associations in North and South America and Europe said they are disappointed that China declined to commit to further action on its excess steelmaking capacity, but are urging the country to be involved in future conversations on the topic.
ArcelorMittal Sees Another Quarter in the Red
06 May 2016 - The world's largest steelmaker posted another unprofitable quarter on Friday, recording a net loss of US$416 million due to low steel prices.
Canadian Pipe Mill Undertakes Short-Term Layoffs
03 May 2016 - Evraz North America is laying off 90 employees at its 24-inch pipe mill in Regina, Canada, and may send home 49 others at its mill in Calgary, reports the Regina Leader-Post newspaper.
Restructuring Costs, Production Disruptions Contribute to Allegheny Technologies' First-Quarter Loss
27 April 2016 - Specialty metals producer Allegheny Technologies Inc. posted a net loss of US$101.2 million due to the ongoing market downturn, restructuring costs and the disruption caused by its now-ended lockout of the United Steelworkers union.
Losses Continue to Mount for United States Steel Corp.
26 April 2016 - United States Steel Corp. posted a first-quarter net loss of US$340 million on Tuesday and announced that it filed a Section 337 petition seeking to bar unfairly traded, Chinese-made steel products from entering the country.
Improvements in Flat Rolled Market Help Boost Steel Dynamics' Q1 Profits
21 April 2016 - U.S.-based Steel Dynamics Inc. doubled its first-quarter profits on greater shipments and improving market conditions, especially in its flat rolled business, the company reported Thursday.
Allegheny Technologies Sheds 250 White-Collar Jobs
20 April 2016 - Specialty steelmaker Allegheny Technologies Inc. is laying off roughly one-third of the salaried employees in its flat rolled division, lopping 250 positions from its payroll, the company has announced.
Steelmaking Countries Leave Brussels Without Agreement on Capacity Problem
19 April 2016 - The world’s largest steelmaking countries agree that there is more steel than the planet has use for, but they disagree on how to solve the problem and left a meeting in Belgium without having made any commitments to reduce it.
ThyssenKrupp CEO: We Want to Be a Part of European Steel Consolidation
15 April 2016 - If thyssenkrupp chief executive Heinrich Hiesinger had his druthers, the company would take part in a consolidation of Europe’s steel industry, perhaps getting together with Tata Steel’s European operation.
Kentucky Hopes to Prompt AK Steel to Relight Ashland Blast Furnace
15 April 2016 - Kentucky Gov. Matt Bevin has signed a bill meant to entice flat rolled maker AK Steel Corp. to relight the blast furnace at its Ashland Works, according to the Associated Press.
China Agrees to End Subsidy Program; Steel Executives Press for Aggressive Enforcement of Trade Laws
14 April 2016 - The U.S. has signed an agreement with China to end a disputed program that subsidized Chinese exports from seven sectors, one of which includes specialty steel.
Steelmakers Suggest Ways to Fight Excess Capacity During Hearing
12 April 2016 - Steelmakers, labor representatives and community leaders were in Washington, D.C., Tuesday to offer testimony about the impact of the world’s excess steel capacity and to suggest ways to combat the problem.
Thousands of German Steelworkers Take to the Streets, Protesting Imports, Potential Consolidation
11 April 2016 - Thousands of German steelworkers staged nationwide protests Monday, demanding more action against Chinese imports -- and a seat at the table in any discussions about possible industry consolidation.
Tata Steel, Investment Firm Shake Hands on Sale of Long Products Business
11 April 2016 - Tata Steel has reached a deal to sell its European long products business to private investment firm Greybull Capital, the company has announced.
Chinese Steelmakers Lost US$15.5 Billion in 2015
08 April 2016 - China’s steelmakers made a lot of steel in 2015, but they reportedly didn’t make any money in return: they collectively lost US$15.5 billion in 2015, according to Xinhua, China’s official news agency.
Report: Tata May Have Hard Time Finding Buyer for U.K. Business
07 April 2016 - After Tata Steel announced that it would look to divest its U.K. business last week, the hope has been for a quick sale to a buyer with a turn-around plan.
The Rest of World Should Cut Its Excess Capacity, Too, China Official Says
07 April 2016 - A Chinese steel official is throwing criticism of the country's steel industry back at the countries dishing it out, saying that mills in other parts of the world are struggling because they are uncompetitive, according to BloombergBusiness.
Tata Steel to Start Formal Sales Process for U.K. Business Next Week
06 April 2016 - Tata Steel will launch the formal sales process for is ailing U.K. business on 11 April, according to a U.K. official.
