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Economy & Markets
The latest on the economy's health and the markets driving the supply and demand of steel.
Latest News
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.
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., USA, tube mill.
Tenaris Closing U.S. OCTG Couplings Plant
27 January 2016 - OCTG producer Tenaris is planning to mothball its couplings facility in Houston, Texas, USA, by the end of March, the company has announced.
EUROFER: EU Steel Demand May Grow in 2016, But Uncertainty Abounds
27 January 2016 - Steel demand is relatively weak, prices are low and imports are continuing to pummel the European market. And with more than enough to go around, producers will be fighting for orders, creating uncertainty as the industry heads deeper into 2016, according to EUROFER, the European Steel Association.
U. S. Steel Posts US$1.5B Loss in 2015
27 January 2016 - 2015 will go down as a significant year for United States Steel Corporation, but for the wrong reasons: the integrated steelmaker posted a net loss of US$1.5 billion on the year, illustrating the difficult market conditions the company and other steelmakers are facing.
ArcelorMittal Mothballs Spanish Mini-Mill
25 January 2016 - ArcelorMittal is indefinitely idling its Sestao mini-mill in Spain, blaming “extremely adverse” market conditions.
Sanctions End, and Iran Goes Shopping
25 January 2016 - Italian mill builder Danieli expects to sign commercial agreements with Iran worth up to US$5.7 billion as economic sanctions end and the country set about to modernize.
Moody's Initiates Broad Credit Ratings Review of Energy, Mining Companies
22 January 2016 - Moody’s is considering whether to downgrade 175 of the world's oil, gas, mining and metals businesses on account of the ongoing commodities downturn, the credit ratings agency has announced.
Environmental Concerns Prompt Closure of Major Iron Ore Terminal in Brazil
22 January 2016 - A Brazilian court has ordered one of the world’s primary iron ore import-export terminals to shut down owing to recurring pollution problems.
