Economy & Markets
The latest on the economy's health and the markets driving the supply and demand of steel.
Latest News
POSCO Returns to Steel Roots With "Aggressive" Cutbacks
20 July 2015 - As reported by Bloomberg, Posco pledged to halve its domestic operations and cut overseas units by 30 percent as South Korea’s biggest steel producer focuses on its main business of making the metal.
Nick Grasberger, Harsco President and CEO, to Lead Metals & Minerals on an Interim Basis; Company Announces Q2 Earnings Guidance
20 July 2015 - Harsco Corporation announced that Nicholas Grasberger, the Company's President and Chief Executive Officer and member of the Board of Directors, will assume the leadership of the Harsco Metals & Minerals segment on an interim basis effective immediately, following the departure of Metals & Minerals President Richard Lundgren to pursue other opportunities.
Insteel Industries Reports Third Quarter Financial Results
20 July 2015 - Insteel Industries, Inc. announced financial results for its third quarter ended June 27, 2015.
Gerdau Announces Project Gerdau 2022 Corporate Restructuring Plan
16 July 2015 - On 14 July, Gerdau S.A. announced a sweeping corporate restructuring plan to respond to market changes and consolidate ownership of its South American, North American and Brazilian operations.
TMK Ipsco Temporarily Lays Off 75 Works at Blytheville, Ark., PLant
16 July 2015 - According to a report by news station KAIT, More than 75 employees were temporarily laid off at TMK Ipsco's operations in Blytheville, Arkansas after they were warned of the possibility 2 months ago.
Vallourec Star Cutting 60-80 Jobs At Youngstown Plant
15 July 2015 - According to a report by the Youngstown Vindicator, Vallourec Star will cut 60 to 80 jobs at its Youngstown, Ohio, USA plant in early August because of weak demand in the oil and gas market.
ArcelorMittal USA CEO Hints at Future Divestment of U.S. Plants
10 July 2015 - In a blog post from 23 June, ArcelorMittal CEO Andrew Harshaw expressed concern over the unsustainability of operating multiple hot strip mills in the United States at low capacity utilization rates.
Alpha Natural Resources Affiliates Issue Warn Notice to Certain Mining Operations Due to Potential Asset Sale
10 July 2015 - Three operating affiliates of Alpha Natural Resources Inc. have notified their employees that they may sell substantially all of the assets of the mining operations where these employees work.
Schnitzer Steel Industries Reports Third Quarter 2015 Financial Results
09 July 2015 - Schnitzer Steel Industries, Inc. reported financial results for its fiscal 2015 third quarter ended May 31, 2015.
Commercial Metals Company Reports Q3 Earnings
08 July 2015 - Commercial Metals Company announced financial results for its third quarter ended May 31, 2015.
AZZ incorporated Releases Financial Results for First Quarter
07 July 2015 - AZZ incorporated, a global provider of galvanizing services, welding solutions, specialty electrical equipment and highly engineered services, announced financial results for the three month period ended May 31, 2015.
ArcelorMittal Mexico to Cut 2,800 Jobs
06 July 2015 - ArcelorMittal, the world's largest producer of steel, will cut 2,800 jobs at its Mexico unit as global prices slump, it said in a joint statement with local competitors on 1 July, while accusing Russia, China and Turkey of dumping steel on markets at levels below production costs.
Dongkuk Steel Set to Shut Down No. 2 Plate Mill
03 July 2015 - As reported by SteelFirst, Dongkuk Steel will shut down one of its two plate mills to cope with an oversupplied domestic market, it announced late on Thursday June 25.
Alpha Natural Resources Idles North Fork No. 7 Mine
26 June 2015 - Alpha Natural Resources said Monday is has idled the North Fork No. 7 metallurgical coal mine in Letcher County, Kentucky, says a report by Platts.
AK Steel Provides Second Quarter 2015 Earnings Guidance
25 June 2015 - AK Steel has provided guidance for its second quarter 2015 financial results.
SMS Group: Customers Remain Reluctant to Invest in New Plants
25 June 2015 - Order intake by the SMS group in the last business year declined to EUR 3.167 billion, (2013: EUR 3.309 billion). Sales, at EUR 3.406 billion, remained at the same level as the previous year (2013: EUR 3.495 billion).
Steel Dynamics Provides Second Quarter 2015 Earnings Guidance
23 June 2015 - Steel Dynamics, Inc. provided second quarter 2015 adjusted earnings guidance in the range of $0.20 to $0.24 per diluted share, excluding the following items:
Most of U. S. Steel's Irvin Employees Back to Work at West Mifflin Plant
19 June 2015 - According to a report by the Pittsburgh Business Times, United States Steel Corporation's Irvin plant in West Mifflin is nearly fully staffed.
TMK IPSCO to Temporarily Shut Down Ambridge Mill For a Month in Line With $15 Million Renovation Plan
19 June 2015 - According to a report by the Pittsburgh Post-Gazette, TMK IPSCO said it will shut down its Ambridge, Pa., USA, seamless tube plant for a little more than a month this summer to make $15 million in improvements.
Nucor Announces Guidance For Its Second Quarter Earnings
19 June 2015 - Nucor Corporation announced guidance for its second quarter ending July 4, 2015.
