Economy & Markets
The latest on the economy's health and the markets driving the supply and demand of steel.
Latest News
Devalued Yuan Leads China Steel Producers To Cut Prices
14 August 2015 - With China having devalued its currency earlier this week, steelmakers there are already moving to reduce export prices, according to a Reuters report.
U.S. Producers Seeking Trade Measures Against Hot Rolled Steel Imports
12 August 2015 - Six U.S. steelmakers have filed petitions for trade action against imports of hot rolled flat products, the producers have announced.
Lawmaker Wants U.S. Pipelines To Be Built From American Steel
10 August 2015 - U.S. Rep. Rick Nolan has reintroduced a bill requiring that domestic oil and gas pipelines be built with American-made steel.
U.S. Exports Up In June, But Outlook Remains Weak, Says Steel Institute
07 August 2015 - For the second month in a row, domestic steel exports have grown, increasing by 1.7 percent to 885,191 net tons, according to the American Institute for International Steel.
Acquisition Talks For Tata Steel Long Products Business Unsuccessful, Company Confirms
06 August 2015 - Confirming earlier reports, Tata Steel executives said that negotiations on the sale of its European long products business have broken off.
Iran Sees More Steel Production In Its Future
05 August 2015 - Iran is looking to double its steel production over the next 10 years, Mehdi Karbasian, deputy minister of Iran’s Ministry of Industries, Mines & Trade, told BloombergBusiness in an interview.
Klesch Group Ends Acquisition Talks For Tata Steel Long Products Business
04 August 2015 - A metals, chemical and oil company has withdrawn from discussions on buying Tata Steel's European long products business, according to a report in The Financial Times.
Steelmaker's European Division Reorganizes; Now Under New Management
04 August 2015 - Tata Steel's European long products division has begun operating as a standalone subsidiary and is now under new management, according to a U.K. newspaper.
ArcelorMittal's U.S. Employees Need To Share More Of The Cost of Health Insurance, Company Says
03 August 2015 - Steel giant ArcelorMittal, which is negotiating a new labor deal with the United Steelworkers, said it needs to freeze or cut pay for some employees and require others to contribute more to the cost of their health insurance, according to the Wall Street Journal.
It Costs More To Fix Ford's Aluminum F-150 Than The Steel Version, Says Insurance Institute
31 July 2015 - Body repairs to an aluminum 2015 Ford F-150 took longer and cost 26 percent more than repairs to its 2014 steel-bodied counterpart, according to test results from the Insurance Institute for Highway Safety.
Report: China Steel Exports Reaching "Extraordinary" Levels
29 July 2015 - Steel exports from China have increased to extraordinary levels as demand in the world’s largest producer slows, according to a Bloomberg report. Meanwhile, the head of India’s third-biggest mill is decrying the impact of surging competition, it said.
Grupo Simec Announces Results for the First Six Months of 2015
28 July 2015 - Grupo Simec, S.A.B. de C.V. ("Simec") announced its results of operations for the sixth-month period ended June 30, 2015.
Reliance Steel & Aluminum Co. Posts Second Quarter 2015 Results
27 July 2015 - Reliance Steel & Aluminum Co. reported its financial results for the second quarter ended June 30, 2015.
Nucor Publishes Second Quarter Financial Results
27 July 2015 - Nucor Corporation presented their earnings report for the second quarter of 2015 on 23 July.
Outokumpu Reports EUR -25 Million Underlying EBIT for Q2 2015: Improvement in Coil EMEA Not Enough to Cover Losses in Coil Americas
24 July 2015 - Outokumpu released its interim report for the second quarter of 2015 on 23 July.
EVRAZ Releases Production Report for Second Quarter of 2015
24 July 2015 - EVRAZ plc released its operational results for the second quarter of 2015 on 17 July.
Steel Dynamics Inc. Announces Second Quarter 2015 Results
23 July 2015 - Steel Dynamics, Inc. announced second quarter 2015 adjusted net income of $53 million, or $0.22 per diluted share, and adjusted operating income of $120 million, which excludes the following items:
U. S. Steel Canada Attempting to Swap Financiers
22 July 2015 - According to a report by the CBC, after fielding threats their financing would be cut, U.S. Steel Canada is filing to replace its original bankruptcy lender, U.S. Steel (USS), with Brookfield as the creditor for a unique line of credit for bankruptcy proceedings, called debtor in possession (DIP) financing.
Northwest Pipe Company to Explore the Sale of Its Energy Tubular Products Business
22 July 2015 - Northwest Pipe Company, an industry leader of engineered welded steel pipe products, announced it is in the process of exploring the sale of its remaining Energy Tubular Products business, which includes line, structural and standard pipe, and is located in Atchison, Kansas.
ArcelorMittal Announces Publication of Second Quarter 2015 EBITDA Sell-Side Analyst Consensus Figures on corporate.arcelormittal.com
21 July 2015 - ArcelorMittal announced their second quarter 2015 EBITDA sell-side analyst consensus figures on 20 July.
