Economy & Markets
The latest on the economy's health and the markets driving the supply and demand of steel.
Latest News
Cleveland-Cliffs Commissions NOES Expansion
27 July 2023 - Cleveland-Cliffs Inc. has completed an expansion of its Zanesville, Ohio, USA, plant and plans to begin trialing hydrogen in its largest blast furnace, chairman and chief executive office Lourenco Goncalves has said.
Nucor Looks to Start West Virginia Mill Construction Within Weeks
27 July 2023 - Nucor Corp. is continuing to ramp up new and revamped flat-rolled mills in Kentucky as it prepares to launch construction on its West Virginia sheet mill.
Steel Dynamics Inc. Reports Q2 Profit
20 July 2023 - Wider metal spreads and steady demand contributed to a US$812 million quarterly profit for Steel Dynamics Inc. (SDI), the company said Wednesday.
JFE Steel: Aluminum Gigacasting Is ‘A Big Problem’
12 July 2023 - A JFE Steel Corp. executive says a Tesla-pioneered technology could impact demand for its automotive steel, reports the Reuters news service.
U.S. Manufacturers Benefiting From Factory Construction
08 May 2023 - Inflation and rising interest rates are top of mind for many businesses, but U.S. steel producers and other manufacturers have another concern — just keeping up with orders.
Forecast: Global Steel Demand to Rise 2.3% in 2023
19 April 2023 - The World Steel Association (worldsteel) has revised up is bi-annual demand outlook, saying that global demand is expected to reach 2.3% this year.
Borusan Mannesmann Looks to Expand OCTG Market Share Through U.S. Acquisition
13 April 2023 - U.S. large-diameter line pipe maker Berg Pipe has been sold to Turkey’s Borusan Mannesmann for US$162 million, according to an announcement Thursday.
Survey: North American Steel Demand Expected to See Modest Gains
12 April 2023 - Steel industry senior executives believe demand will increase modestly over the next three to five years, inflation to moderate, and imports volumes to remain more or less the same, according to an annual survey conducted by corporate finance and strategic advisory firm Headwall Partners.
EVRAZ North America Announces H2 Line Pipe Qualification
11 April 2023 - EVRAZ North America (ENA) has received qualification for a high-strength, high-frequency welded (HFW) line pipe designed for hydrogen transmission, the company has announced.
New CMC Micro-Mill Nears Start of Commissioning
06 April 2023 - Commercial Metals Company (CMC) is set to begin commissioning its new Arizona micro-mill later this spring and anticipates receiving a key environmental permit for its planned West Virginia mill in the coming months, according to chief executive Barbara R. Smith.
U. S. Steel Returns Idled Blast Furnace to Service
20 March 2023 - Improving demand and rising prices have prompted United States Steel Corporation to restart an idled blast furnace.
Nucor Anticipates Profitable Q1
16 March 2023 - Nucor Corp. is expecting a softer first-quarter profit, but said its steelmaking, steel products and raw materials businesses are nevertheless off to a strong start in 2023.
OECD Steel Committee: Big Capacity Growth, but Little Demand Growth in 2023
15 March 2023 - Global steel demand will grow by a mere 1% in 2023, far outpaced by growth in steelmaking capacity, according to the Organisation for Economic Co-operation and Development (OECD)’s steel committee.
Steel Dynamics Sees Healthy Steel Demand, Expects Profitable Q1
15 March 2023 - Steel Dynamics Inc.'s first-quarter earnings are likely to dip roughly 3%, but the company says demand in its steel, scrap and fabricated products businesses remains strong.
The World’s No. 2 Met Coal Exporter is Spinning Off Its Coal Mines. Here’s Why.
23 February 2023 - Canadian miner Teck Resources Ltd. is splitting off its metallurgical coal business into a separate public company that will be owned in part by two of its biggest steelmaking customers, the company has announced.
U. S. Steel Restarts Idled Mon Valley Works BF
06 February 2023 - Increasing demand has prompted United States Steel Corporation to restart the No. 3 blast furnace at its Mon Valley Works in Pennsylvania.
The World Made Less Steel in 2022. Here’s How Much Output Fell.
01 February 2023 - Global crude steel production declined 4.2% in 2022, according to the World Steel Association (worldsteel).
Swedish Producer Restarts Blast Furnace
01 February 2023 - SSAB has joined the list of European steel producers who have relit idled blast furnaces in recent weeks, reports Fastmarkets MB.
SDI Achieves Record Profitability in 2022
25 January 2023 - 2022 was a banner year for Steel Dynamics Inc. as the U.S. steelmaker posted record net sales, profits and shipments.
CMC Sees Spring Start for Arizona Micro-Mill
12 January 2023 - Long products maker Commercial Metals Company (CMC) is building out crews and training them as it begins commissioning equipment at its new Arizona micro-mill, the company’s chief executive said Monday.
