Economy & Markets
The latest on the economy's health and the markets driving the supply and demand of steel.
Latest News
China Sees Falling Steel Demand, Rising Inventories
07 July 2022 - China’s steel inventories have swelled to 23% more than year-ago levels as producers raise alarms over weakening demand, reports the Bloomberg news service.
SMS group Incoming Orders Reach 10-Year High
23 June 2022 - Mill equipment manufacturer SMS group said its order intake rose to its highest level in a decade, reaching EU3.5 billion in fiscal 2021.
McKinsey: European Steelmakers Might Have to Re-Examine DRI Investments
21 June 2022 - European steelmakers who have natural-gas-fired direct reduction plants in their decarbonization plans might have to rethink those investments due to the Russia-Ukraine war, according to a new report.
Commercial Metals Company Forecasts Healthy Steel Demand
20 June 2022 - Fears of a recession to the contrary, Commercial Metals Company (CMC) executives said demand for rebar and other construction steels appears healthy.
U. S. Steel Expects Strong Q2
17 June 2022 - United States Steel Corporation expects to report second-quarter EBITDA of approximately US$1.6 billion, a new second-quarter record, the company said Thursday.
Steel Dynamics Expects a Record Q2
16 June 2022 - Steel Dynamics Inc. said it expects to report another record quarter later this summer, driven in part by strong steel demand and profitability at its steel mills.
Nucor Sees Another Earnings Record on the Horizon
15 June 2022 - Strong steel demand is expected to propel Nucor to its highest quarterly earnings yet, the company said on Wednesday.
worldsteel: Crude Steel Production Up 3.8% in 2021
09 June 2022 - Global crude steel production reached 1.95 billion metric tons in 2021, with China accounting for nearly 53% of the total, according to the World Steel Association (worldsteel)’s annual tally.
Cleveland-Cliffs, NYSE Mark 175 Years in Business
04 May 2022 - In celebration of its 175th anniversary, Cleveland-Cliffs Inc. chairman and chief executive Lourenco Goncalves and other company executives rang the New York Stock Exchange (NYSE) closing bell on Tuesday.
Steel Industry’s Overcapacity Could Trigger Sharp Downturn, Says OECD
27 September 2021 - During its 90th session, the Organisation for Economic Co-operation and Development (OECD)’s Steel Committee warned of potential future downturns if the growth in steel demand slows.
Cleveland-Cliffs’ Next Big Moves: Scrap, Electrical Steel
26 August 2021 - Cleveland-Cliffs Inc. is preparing to enter the steel scrap business and plans to modernize its electrical steel plant in Pennsylvania, chairman and chief executive Lourenco Goncalves said on Monday.
Algoma Closes in on EAF Investment Decision
24 August 2021 - Integrated steelmaker Algoma Inc. is nearing a final investment decision on its proposed transition to electric steelmaking, the company’s chief executive has said.
U. S. Steel Reports a Stronger Q2 Than Last Year
03 August 2021 - United States Steel Corporation reported adjusted net earnings of US$964 million for the second quarter.
Cleveland-Cliffs Completes Major Share Buyback; Announces Indiana Harbor BF Maintenance Outage
29 July 2021 - Cleveland-Cliffs Inc. has spent US$1.2 billion to buy back all of the shares in a special class of stock held by ArcelorMittal.
Nucor's Q2 Earnings Were Its Best Ever
27 July 2021 - Nucor Corp. reported a record second quarter amid robust demand and higher average selling prices.
SDI Posts Another Record Quarter: 'We Can't Make Enough Steel'
20 July 2021 - Steel Dynamics Inc. posted a record second quarter on Monday and said it potentially could do even better in the three months ahead.
Mill Supplier Sees ‘Unprecedented’ Demand
01 July 2021 - The steel industry is benefitting from robust demand, but so too are mill equipment suppliers, the president of The Systems Group said Thursday.
Nucor Expects to Report Record Earnings — Again
16 June 2021 - Nucor Corp. is expecting to repeat its record-quarter performance, with strong demand and higher average selling prices lifting its profitability to new highs.
Nucor Makes US$1B Acquisition in Construction Products Market
07 June 2021 - Nucor Corp. is taking a bigger step into the downstream construction market, announcing Monday that it has an agreement to acquire Cornerstone Building Brands’ insulated metal panel (IMP) business for US$1 billion in cash.
Report: Republic Steel Might Resume Rolling Operations at Ohio Mill
06 May 2021 - Republic Steel is eyeing a potential restart of its Lorain, Ohio, rolling mill, reports The (Elyria, Ohio) Chronicle-Telegram.
