Economy & Markets
The latest on the economy's health and the markets driving the supply and demand of steel.
Latest News
Trade Associations Opposing China's Claims to WTO Market Economy Status
05 November 2015 - Nine steel associations in North America, South America and Europe are jointly opposing China’s attempts to gain World Trade Organization market economy status.
SAIL Wins Big Rail Order From Iran
02 November 2015 - State-owned Steel Authority of India Ltd. (SAIL) will supply about 100,000 metric tons of rail for a system expansion in Iran, according to reports.
Swedish Steelmaker Closing Rolling Mill, Reducing Shifts
30 October 2015 - Swedish engineering steel manufacturer Ovako is implementing a two-year restructuring program in order to reduce costs, the company has announced.
Task Force To Seek Out Buyer for Closing Scottish Mills
29 October 2015 - A task force organized to address the closure of two Tata Steel Europe plants in Scotland has agreed to seek a buyer for the facilities, reports the BBC.
Analyst: U.S. Integrated Mills Now Among the Costliest Operations
27 October 2015 - Falling prices of seaborne coking coal and iron ore, along with other factors, have pushed America's integrated steel mills up the global cost curve, CRU senior consultant Adrian Doyle said on Tuesday.
Infrastructure Spending Not a Panacea for Steel Demand, Says SDI Executive
26 October 2015 - Despite a school of thought that says otherwise, an increase in public spending on America's crumbling infrastructure likely won't do much to lift steel demand, according to Steel Dynamics Inc. (SDI) Vice President Christopher A. Graham.
Analyst: Chinese Steel Demand Will Again Grow, But at a Much Slower Pace
26 October 2015 - The best days of Chinese demand for steel may be over, but it will likely resume growth in the next decade, according to CRU research manager Chris Houlden.
Universal Stainless' Net Sales Expected to Drop 19 Percent
16 October 2015 - Specialty steelmaker Universal Stainless & Alloy Products Inc. said that it expects to record a third-quarter loss of US$2.40 to US$2.45 per share, partly on account of costs associated with throttling back production.
AK Steel Temporarily Idles Kentucky Steel Works
16 October 2015 - U.S.-based AK Steel Corp. is idling the blast furnace and other steelmaking operations at its Ashland Works in Kentucky, the company has announced.
Analyst: Despite Cost-Cutting Measures, Steel Works Unlikely to Remain Open
09 October 2015 - Wage freezes and layoffs will delay, but likely won’t prevent, the eventual closure of BlueScope Steel Ltd.’s Port Kembla works, according to a Deutsche Bank analyst.
Unions Agree to Wage Freeze, Job Cuts at Australian Steel Works
08 October 2015 - Employees at an Australian steel works have accepted concessions in a bid to keep the operation afloat.
U. S. Steel Considers Idling Flat Rolled Plant
07 October 2015 - United States Steel Corporation is thinking about consolidating its North American flat rolled division and has given notice that it may temporarily idle its Granite City Works in Illinois, according to reports.
U. S. Steel Canada Can’t Afford Pension Contributions, Court Monitor Says
06 October 2015 - The court-appointed monitor in U. S. Steel Canada's (USSC) creditor protection case is supporting the company's request to halt pension plan contributions and retiree benefits, but is opposing parent United States Steel Corporation's request to cease providing ministrative and support services for the company.
Thailand’s SSI Enters Bankruptcy, Liquidates British Steel Works
06 October 2015 - Thailand's top steelmaker has declared bankruptcy as it liquidates its U.K. steel division.
Update: Mexico Imposing Additional Trade Protections for Domestic Steelmakers
30 September 2015 - Mexico is increasing duties on a variety of steel products, hoping to shield domestic producers from inexpensive imports from China and other countries.
Larger Overseas Investments May Be in Nippon Steel’s Future
29 September 2015 - Tokyo-based Nippon Steel & Sumitomo Metal Corp. has an eye out for merger and acquisition opportunities as it looks to expand its global customer base, company president Kosei Shindo told Reuters during an interview.
Special Steel Manufacturer Put Into Administration
28 September 2015 - A U.K. special steel manufacturer has been placed in the hands of a court-appointed administrator while a buyer is sought for the business.
U.K.’s Second-Largest Steelmaker Closing English Steel Works
28 September 2015 - Thailand’s Sahaviriya Steel Industries (SSI) said it will mothball its Redcar steel works in Teesside, England, and lay off approximately 1,700 employees -- most of its workforce.
U.S. Trade Commission Pursues Cold Rolled Import Investigation
25 September 2015 - Producers from seven countries appear to be selling hot rolled coil at less than market value, undercutting American producers, the U.S. International Trade Commission (ITC) has ruled.
As SSI Falters, U.K. Steelmakers Ask for Government Support
25 September 2015 - British steelmakers and labor unions have called on government to offer more help to the industry in the wake of the production halt at SSI UK’s Redcar mill.
