Economy & Markets
The latest on the economy's health and the markets driving the supply and demand of steel.
Latest News
U.S. Senate Steel Caucus Hosts Capitol Hill Reception
20 September 2013 - On 12 September, Senate Steel Caucus Co-Chairs Senators Jay Rockefeller (D-WV) and Jeff Sessions (R-AL), and Vice Chairs Senators Sherrod Brown (D-OH) and Pat Toomey (R-PA), hosted an informal meet-and-greet reception on Capitol Hill for current and perspective Senate Steel Caucus Members, as well as representatives from the steel industry.
MSCI: Improvement in July Service Center Shipments Disappears in August
18 September 2013 - U.S. and Canadian service center shipments of both steel and aluminum returned to the year-over-year trend that was experienced earlier this year in contrast to the modest growth displayed last month, the Metals Service Center Institute reports.
Steel Dynamics Provides Third Quarter Earnings Guidance
18 September 2013 - As it reported its earnings guidance for the third quarter of 2013, Steel Dynamics Inc. noted that increased profitability from the company's sheet operations is related to both higher volume and metal spread.
Steel Dynamics Provides Third Quarter Earnings Guidance
18 September 2013 - As it reported its earnings guidance for the third quarter of 2013, Steel Dynamics Inc. noted that increased profitability from the company's sheet operations is related to both higher volume and metal spread.
Nucor Announces Guidance for Third Quarter Earnings
17 September 2013 - Nucor Corporation announced guidance for its third quarter ending 28 September 2013 noting that the strongest end markets continue to be in manufactured goods including energy and automotive.
July U.S. Steel Shipments Up 6% M-o-M, Down 4% Y-o-Y
16 September 2013 - The American Iron and Steel Institute (AISI) reported that for the month of July 2013, U.S. steel mills shipped 8,274,511 tons, a 6.0% increase from the 7,806,319 tons shipped in the previous month, June 2013, and a 4.6% increase from the 7,910,486 tons shipped in July 2012.
SEASI Gives Analysis of Steelmaking and Ferrous Scrap Supply in ASEAN
12 September 2013 - ASEAN’s total steelmaking capacity is estimated at 39.4 million tonnes in 2013 and is expected to expand by 6–7 million tonnes by next year, the South East Asia Iron & Steel Institute (SEASI) reports.
Schnitzer Steel Provides Outlook for Fourth Quarter of Fiscal 2013
27 August 2013 - Schnitzer Steel Industries, Inc. announced its outlook for its fourth quarter of fiscal 2013 ending 31 August 2013, nothing that export demand for recycled metals weakened versus the third quarter as reflected by lower shipped volumes and lower average sales prices.
Finished Steel Apparent Use in Latin America Remained Stable While Production Fell
23 August 2013 - Finished steel apparent use in Latin America reached 33.1 million tons in January-June 2013, in line with the same period of 2012, according to the region’s steel association Alacero.
Bloomberg: JSW Seeks to Sell U.S. Plant as Demand Revives
22 August 2013 - JSW Steel Ltd., India’s third-biggest steelmaker, will consider selling its U.S. mill complex to help reduce debt and boost earnings as a revival in the world’s biggest economy spurs demand, Bloomberg reports.
U.S. Service Center Shipments Reverse Declines in July
15 August 2013 - In July, the pattern of consistent monthly decline of U.S. steel and aluminum shipments reversed, with shipments increasing approximately 5% over last year, the Metals Service Center Institute (MSCI) reported. In Canada, July shipments of both steel and aluminum continued to decline but at rates that were much slower than June.
Northwest Pipe Predicts Third Quarter Will Be Its Weakeast This Year
09 August 2013 - Northwest Pipe Company announced its second quarter 2013 financial results, noting that it expects the third quarter to be its weakest in 2013.
EUROFER Expects European Steel Consumption to Fall 4.5% This Year
05 August 2013 - The base case scenario of a stabilization of the EU economy in the second half of 2013 and a gradual but slow recovery in 2014 is confirmed by EUROFER’s Q3-2013 Economic & Steel Market Outlook.
PwC US Says Overcapacity Continues to Impact M&A Activity in Steel Sector
02 August 2013 - While merger and acquisition (M&A) activity in the global metals sector has seen continued declines in both deal value and volume during the second quarter of 2013, China and other emerging markets played a significant role in the overall deal environment, according to PwC US.
Nucor Provides Guidance for Second Quarter Earnings
13 June 2013 - As it announced second quarter earnings guidance, Nucor said overall operating performance in the steel mills segment is down compared to the first quarter of 2013, with weaker performance in sheet and structural steel somewhat offset by improvement in plate.
ArcelorMittal Welcomes European Commission's Steel Action Plan
11 June 2013 - On 11 June 2013, the European Commission published an action plan for the European steel industry, the first such initiative since the Davignon Plan in 1977.
Schnitzer Provides Outlook for Third Quarter of Fiscal 2013
31 May 2013 - Schnitzer Steel Industries said the combination of declining selling prices, continued constrained supply trends, and lower tax benefits are expected to result in sequentially lower consolidated net income during the third quarter of fiscal 2013 ending 31 May 2013.
Paul WURTH Reports Good Performance in a Gloomy Economic Environment
23 May 2013 - Paul WURTH provided an update on its operations and earnings results for the 2012 financial year, as well as an update on the company's outlook.
Tata Steel Reports Consolidated Financial Results
23 May 2013 - As it reported its quarterly earnings results, Tata Steel says severely depressed conditions in Europe are expected to continue over the short-to-medium term and have led to a downward revision of cash flow expectations and the valuation of the Groups’ European operations.
Outokumpu Unveils New Vision, Prodcts and Pricing Model; Comments on Its Strategy Progress
22 May 2013 - At Outokumpu Experience, the company’s global event in London for customers, partners and analysts, Outokumpu launched its latest addition to the duplex product family, the FDX platform, introduced a new pricing model and commented on its strategy progress and the Terni divestment process.
