Economy & Markets
The latest on the economy's health and the markets driving the supply and demand of steel.
Latest News
Iron Ore Prices Set New Record
29 April 2021 - Steel prices have taken off as global demand recovers, but so too have iron ore prices, reports commodities news and pricing service S&P Global Platts.
Rising Steel Prices Prompt BlueScope to Raise Earnings Expectations
27 April 2021 - Australian steel producer BlueScope is revising up its second-half earnings forecast, largely due to the strength in the U.S. sheet market and performance of the company’s North Star mill.
Nucor: A Record Quarter Is on the Books, Another Could Be Coming
22 April 2021 - Nucor Corp. saw its first-quarter earnings soar to a record US$942.4 million on strength in demand and high average selling prices, the company announced Thursday.
SDI Reports Record Q1 Profit, Prepares to Start Parts of Texas Mill
22 April 2021 - Steel Dynamics Inc. (SDI) is reiterating expectations that it will start process lines at its new flat-rolled mill late this spring.
Tenaris to Resume Production at Steel Shop, Pipe Mill
19 April 2021 - Tenaris is nearing completion of improvements to its Koppel, Pa., USA, steel shop and is planning to soon restart operations there and at its Ambridge, Pa., seamless pipe mill.
World Steel Forecasts Demand Rebound
15 April 2021 - Global steel demand is expected to grow 5.8% this year, assuming that second and third waves of the COVID-19 pandemic subside by the end of June and that the world continues to make headway with vaccinations.
Report: Lowered EU Steel Demand Will Necessitate Capacity Cuts
05 April 2021 - The COVID-19 pandemic probably has erased five to 10 million tons of European Union steel demand, and producers there will have to shed capacity, according to a new paper from management consultancy McKinsey & Co.
SDI Thinks a Record Quarter Is in the Offing
18 March 2021 - Steel Dynamics Inc. said it potentially could post a record profit in the first quarter as strong demand and rising prices boost its bottom line.
Survey: Metals Executives Have High Expectations for Growth in 2021
17 March 2021 - North American Metals sector leaders are anticipating a significant jump in revenue this year, but are wary of the potential for inflation in the coming years, according to a survey of C-suite executives.
Nucor Anticipating Record Q1 Profitability
16 March 2021 - With strong across-the-board steel demand, Nucor Corp. expects to report a record profit in the first quarter.
China’s Steel Output Rises in Early 2021
16 March 2021 - China produced nearly 175 million metric tons of steel in January and February, an increase of almost 13%, reports the Reuters news service.
Nucor Says It’s Having a Record Quarter
09 February 2021 - Nucor Corp. expects to report record first-quarter earnings that could exceed US$900 million, the steelmaker said on Tuesday.
Steel Dynamics’ Q4 Profits Increase
28 January 2021 - Steel Dynamics Inc. (SDI) saw its fourth-quarter earnings climb to US$188 million on near-record steel shipments and rising prices and is looking for the positive momentum to continue going into the new year.
Nucor Reports Profitable End to 2020, Sees Continued Strength in Early 2021
28 January 2021 - Higher sheet and plate prices helped push Nucor Corp.’s fourth-quarter earnings to US$398.8 million, the steelmaker said Thursday.
China Increases Share of Global Steel Production
27 January 2021 - Global crude steel production slipped by 1% in 2020, but China took a larger share of production, with its output exceeding 1 billion metric tons, according to preliminary World Steel Association data.
Cleveland-Cliffs Expects Significant Q4 Revenue Increase
25 January 2021 - Cleveland-Cliffs Inc.'s fourth-quarter revenues likely will exceed US$2 billion, the iron ore miner and steelmaker said on Monday.
voestalpine Returns Idled Blast Furnace to Service
21 January 2021 - voestalpine has restarted the second blast furnace at its Donawitz site in Austria to meet rising long products demand, the steelmaker has said.
With Flat-Rolled Prices Rising, Nucor, SDI Forecast Higher Q4 Earnings
17 December 2020 - The two major U.S. mini-mill operators are each expecting fourth-quarter earnings to outpace their Q4 2019 results, the companies said on Thursday.
ATI Plans Stop to Standard Stainless Sheet Production
03 December 2020 - Stainless steel and specialty alloys producer Allegheny Technologies Inc. (ATI) is exiting the standard stainless sheet business and will redeploy capital to focus on high-value products primarily for the aerospace and defense sectors.
U. S. Steel to Restart Gary No. 4 BF
02 December 2020 - With steel demand continuing to rebound, United States Steel Corporation will restart an Indiana blast furnace next week, reports the The Times newspaper of northwest Indiana.
