Economy & Markets
The latest on the economy's health and the markets driving the supply and demand of steel.
Latest News
Republic Steel to Mothball Ohio Rolling Mill
07 January 2016 - Special bar quality manufacturer Republic Steel has announced that it will idle its Lorain, Ohio, USA, rolling mill by March and lay off approximately 200 workers, according to media reports.
Canadian Iron Ore Producer Pulls Back on Winter Operations
06 January 2016 - Tata Steel Minerals Canada (TSMC), the steelmaker’s iron ore joint venture in Canada, is scaling down winter operations at its direct-shipping ore project.
Automakers: 2015 Was a Banner Year for Sales
06 January 2016 - As depressed as the steel markets might be, there’s at least this much to hold on to:
Nucor to Restart DRI Plant
06 January 2016 - U.S.-based Nucor Corp. intends to resume production at its Louisiana direct reduced iron (DRI) plant by the end of January, the company has announced.
Outotec to Cut 150 Jobs in Finland
04 January 2016 - Finland’s Outotec will cut 150 jobs at home and throttle back production at a machine shop and at its filters unit as it attempts to pare EUR70 million in fixed costs.
World Steel Chairman: An Oil, Gas Recovery is Still Months Off
28 December 2015 - The oil and gas sector isn’t likely to begin to recover until at least the summer of next year, World Steel Association chairman Wolfgang Eder said during an interview with USA Today.
U.S. Commerce Department Proposes Big Dumping Margin on Chinese-Made Corrosion-Resistant Steel
23 December 2015 - The U.S. Department of Commerce has made a preliminary determination that steel producers in China, India, Italy and South Korea have dumped corrosion-resistant steel in the U.S.
Baosteel Pulls the Plug on Multi-Billion-Dollar Iron Ore Project
23 December 2015 - China’s Baosteel and its partners are mothballing a proposed US$5.4 billion iron ore project in Australia on account of market conditions, reports BloombergBusiness news service.
Tata Steel Negotiating Sale of European Long Products Business
22 December 2015 - Tata Steel is in talks with investment firm Greybull Capital to sell its European long products business, the company has announced.
AK Steel, Steel Dynamics Expecting Low-Cost Imports to Weigh Down Fourth-Quarter Results
18 December 2015 - AK Steel Corp. said it expects to report a greater-than-anticipated net loss of between 33 cents and 38 cents per share in the fourth quarter, due in part to costs associated with idling its Kentucky blast furnace.
U.K. Wins Approval to Offer New Energy Subsidy
18 December 2015 - The European Commission has approved a U.K. plan to help its steelmakers cover their energy costs, reports The (London) Telegraph newspaper.
Weak Demand Forces Nucor To Halt Production at DRI Plant
17 December 2015 - Nucor Corp. is temporarily halting production at its direct reduced iron (DRI) plant in Louisiana due to market conditions, the U.S.-based steelmaker has announced.
One Chinese Leader's Solution to Steel Glut? Require Builders to Use More of It
16 December 2015 - Chinese government leaders might be considering a policy that would increase – perhaps triple — the amount of steel used in housing construction as a way to soak up excess steel supply, according to BloombergBusiness.
Russian, Chinese Steel Exports to EU Now Under Registration Order
15 December 2015 - The European Commission has imposed a registration order on imports of Chinese and Russian cold rolled flat steel, according to the Reuters news service.
Tenaris Opens New Service Center in Argentina
14 December 2015 - OCTG manufacturer Tenaris has opened a new service center in Senillosa, Neuquén, Argentina, to better serve customers in Latin America’s largest shale play.
AK Steel to Begin Winding Down Ashland Works
14 December 2015 - AK Steel Corp. is to begin sending home employees at its Ashland, Ky., USA, works Christmas week, according to the Dayton Daily News.
U. S. Steel's Granite City Works To Close in Mid-February, Union Official Says
11 December 2015 - United States Steel Corporation will begin winding down its Granite City Works in Illinois later this month, with workers beginning to be sent home on 27 December, according to the Belleville News-Democrat newspaper.
High Imports and Low Prices Prompt Allegheny Technologies to Idle Two Mills
11 December 2015 - Citing the abundance of low-cost imports and depressed steel prices, stainless and specialty steel producer Allegheny Technologies Inc. is indefinitely idling two of its western Pennsylvania plants.
Canadian Ore Producer Delists Shares on OTCQX Exchange
10 December 2015 - Canada’s New Millenium Iron Corp. is voluntarily delisting its common shares on the OTCQX International exchange, the company has announced.
Hundreds Out of Work at ArcelorMittal Caribbean Steel Works
09 December 2015 - ArcelorMittal is laying off scores of workers at its Point Lisas steel works in Trinidad and Tobago after temporarily idling the operation in November, according to reports.
