Economy & Markets
The latest on the economy's health and the markets driving the supply and demand of steel.
Latest News
China's Planned Capacity Cuts Aren't Enough, says Veteran Steelmaker
10 March 2016 - China’s plan to shutter 100 million to 150 million metric tons of steelmaking capacity won’t be enough to restore balance to the sector, Zhang Wuzong, chairman of privately owned Shandong Shiheng Special Steel Group told, the Reuters news service.
China Intends to Idle More than 200 Mills in its Steelmaking Center
09 March 2016 - The Hebei province, China's steelmaking heartland, will close 60 percent of its steel mills by 2020 as part of the country's effort to curb excess capacity, reports Chinese business and finance magazine Caixin.
ArcelorMittal CEO Sees Improvement on the Horizon
07 March 2016 - There’s finally some light at the end of the tunnel, ArcelorMittal’s chief executive told The (London) Financial Times.
India Considers Additional Support for Steel Industry
02 March 2016 - India’s steel ministry is weighing the feasibility of bailing out indebted local metal producers, reports BloombergBusiness.
U.S. Commerce Department Sets Duty on Cold Rolled Imports
02 March 2016 - The U.S. Commerce Department will impose preliminary anti-dumping duties on cold rolled flat steel from seven countries, including China, the department announced on 1 March.
Ohio Electrode Manufacturer Adjusts Organizational Chart, Launches Strategic Review
01 March 2016 - Graphite electrode manufacturer GrafTech International Ltd. plans to realign its two business units and is considering a sale of one of them, the Ohio-based company has announced.
China Looks to Cut Nearly 2 Million Steel, Coal Jobs
29 February 2016 - Chinese officials said the country expects to eliminate 500,000 steelmaking jobs and 1.3 million coal mining jobs as it attempts to reduce capacity, according to reports.
Report: Tata Steel Preparing to Restructure India Operations
23 February 2016 - India’s Tata Steel is planning to restructure its domestic operations in a bid to cut costs and boost productivity, reports The Economic Times.
Steel's Downturn Sinks the Shipping Industry
22 February 2016 - Misery loves company, and so the steel sector isn't the only one feeling pain. The shipping industry is under just as much pressure, owing to falling demand, low prices and a glut of capacity.
Citing Losses, Australian Steelmaker Says It May Partially or Fully Close Its Integrated Steel Works
17 February 2016 - Arrium, an Australian iron ore miner and steel producer, posted an AU$235.8 million loss in the first half of fiscal 2016 and said it needs to find AU$60 million in cost savings or it will idle all or part of its integrated Whyalla works.
Saudi Arabia, Russia Agree to Hold the Line on Oil Production, But With A Catch
16 February 2016 - Russia and Saudi Arabia have agreed to freeze oil production, but only if other major producers do so as well, according to media reports.
U.S. Stainless Producers Launch Trade Case Against China
12 February 2016 - Four U.S. stainless sheet and strip producers have filed a trade complaint against China, alleging that their overseas counterparts are dumping steel and undercutting domestic prices.
European Industries Pressing EU to Deny China Market Economy Status
08 February 2016 - European manufacturers and union laborers, including those in the steel sector, are planning to march in Brussels next week to voice opposition to granting China market economy status.
ArcelorMittal Posts US$7.9B Loss in 2015
05 February 2016 - ArcelorMittal, the world’s largest steelmaker, lost US$7.9 billion in 2015 on lower prices and large write-downs in its iron ore business.
Write-downs, Restructuring Costs Help Push Tata Steel's Q3 Earnings into the Red
04 February 2016 - Tata Steel Ltd. lost Rs 2,127 crore in its third quarter as it continues to face low prices and competition from imports.
As Power Prices Rise and Steel Prices Fall, ArcelorMittal Considers Future of South African Mill
04 February 2016 - ArcelorMittal’s South African division said it expects to record a headline loss of 1,250 cents per share in 2015 and is rethinking its investment in its ultrathin hot rolled coil mill along the country’s west coast.
ArcelorMittal Might Part With U.S. Rail Mill and Other Long Products Facilities
03 February 2016 - ArcelorMittal, the world’s largest steelmaker, is considering a sale of its Pennsylvania, USA, rail mill, along with other U.S. long steel assets.
Analysts: Expect a Challenging Year, But Some Slight Production Growth Is Likely
01 February 2016 - The world’s steel industry is projected to grow slightly in 2016, with production rising by around 0.15 percent, according to newspaper survey of analysts.
Japan's No. 1 Steelmaker Looks to Acquire Rival Nisshin Steel
01 February 2016 - Two of Japan’s largest steelmakers are planning to combine as they try to ride out the low prices brought on by excess capacity.
More Layoffs Planned at Kentucky Tube Mill
28 January 2016 - TMK IPSCO has given notice that it intends to lay off 126 employees at its Wilder, Ky., tube mill.
