Economy & Markets
The latest on the economy's health and the markets driving the supply and demand of steel.
Latest News
Carpenter Technology Provides Q1 Fiscal Year 2015 Outlook
02 October 2014 - Carpenter Technology Corporation announced that cost, output, and mix issues at its Specialty Alloys Operations (SAO) locations in Reading and Latrobe, Pa., will negatively impact the company's first quarter (Q1) fiscal year 2015 (FY15) earnings.
Essar Steel Algoma Reports Turning Performance Around
29 September 2014 - Essar Steel Algoma Inc. announced guidance for the second quarter FY2015 ending 30 September 2014. The announcement comes on the heels of the Ontario Superior Court of Justice’s 15 September 2014 approval of Algoma’s Plan of Arrangement, which paves the way for a comprehensive recapitalization and refinancing of the company’s capital structure.
SDI Provides Q3 2014 Earnings Guidance
19 September 2014 - Steel Dynamics Inc. provided third quarter 2014 earnings guidance, noting that demand trends for key steel-consuming end markets is expected to remain favorable, as strength in automotive, manufacturing, energy and construction markets continue to improve.
Nucor Announces Guidance for Q3 Earnings
18 September 2014 - Nucor Corporation announced guidance for its third quarter ending 4 October 2014.
U. S. Steel Announces Strategic Actions to Strengthen Company; Updates Q3 Outlook
17 September 2014 - United States Steel Corporation announced three key strategic actions that support its transformation:
SMU Steel Summit 2014 Explores State of Steel Markets
16 September 2014 - Imports and exports. Non-residential construction and housing starts. GDP and geopolitics. Global steel and raw materials pricing, risk and forecasts. All of this and much more was discussed in depth during Steel Market Update’s fourth annual Steel Summit in Atlanta, Ga., USA, on 3–4 September 2014. This was the first two-day conference for the Steel Summit, and nearly 200 people attended.
Platts China Steel Sentiment Index Indicates Weak Demand, Price Outlook
10 September 2014 - The health of China's steel sector may be poised for a less than robust immediate future, according to the latest Platts China Steel Sentiment Index (Platts CSSI), which showed a September reading of 45.88 out of a possible 100 points.
IREPAS: Challenging Times in Global Longs Market Despite Demand Improvement
09 September 2014 - There has been a reasonable resumption of demand for long steel products in the North American and northern EU markets following the holiday period, IREAPS said in its September 2014 Short Range Outlook.
ArcelorMittal Announces 700 New Jobs in France
05 September 2014 - ArcelorMittal announced 700 new jobs will be created at its French sites in 2014.
Russel Metals Benefitting from Strengthening Economy in U.S., Canada
19 August 2014 - Russel Metals Inc. announced second quarter 2014 earnings of US$31 million or US$0.50 per share on revenues of US$893 million reflecting strong operating margins in all segments.
Tata Steel Provides Update on Global Operations in Quarterly Report
18 August 2014 - Tata Steel Group declared its consolidated financial results for the quarter ended 30 June 2014.
Salzgitter Reports Results in Difficult Steel Market
15 August 2014 - The Salzgitter Group closed the first half of 2014 with a significant year-on-year improvement in its pre-tax result approximating breakeven.
Global Metals Deal Activity Rebounds in the Second Quarter of 2014
12 August 2014 - Merger and acquisition (M&A) activity in the global metals sector surged in the second quarter of 2014, showing robust growth from both a sequential and year-over-year basis as companies looked to acquire assets across key industries to strengthen their growth opportunities and drive higher-margin sales, according to PwC US.
Northwest Pipe Expects Low Margins as High Import Levels Impact Line Pipe Market
11 August 2014 - Northwest Pipe Company announced its financial results for the quarter ended 30 June 2014.
Olympic Steel Reports Record Net Sales
08 August 2014 - Olympic Steel, Inc., a national metals service center, announced financial results for the second quarter and six months ended 30 June 2014.
Alpha Natural Resources Downsizing West Virginia Mining Operations
08 August 2014 - Eight operating affiliates of Alpha Natural Resources, Inc. have notified their employees that the coal mines and other facilities where they work are subject to being idled due to sustained weak market conditions and government regulations that have challenged the entire Central Appalachian mining industry.
ArcelorMittal Europe Raises Growth Forecast After Second Consecutive Quarter of Improvements
05 August 2014 - ArcelorMittal Europe announced its results for the second quarter of 2014.
Universal Stainless Earnings Boosted by Increasing Demand from Aerospace
05 August 2014 - Universal Stainless & Alloy Products Inc. reported that net sales for the second quarter of 2014 were US$52.3 million, an increase of 12% from the first quarter of 2014 and 22% higher than the second quarter of 2013.
voestalpine Significantly Improves Results in First Quarter of 2014/15
05 August 2014 - “Despite ongoing inconsistent economic trends in the most important economic regions worldwide, the voestalpine Group’s results in the first quarter of the business year 2014/15 continued to be solid,” said Wolfgang Eder, CEO and chairman of the Management Board of voestalpine AG.
ArcelorMittal Increases Steel Demand Forecast for Europe and U.S.
04 August 2014 - ArcelorMittal announced results for the three and six month periods ended 30 June 2014.
