Economy & Markets
The latest on the economy's health and the markets driving the supply and demand of steel.
Latest News
U. S. Steel to Bring Gary Works BF Back Into Service
01 July 2020 - United States Steel Corporation plans to restart an idled blast furnace on account of rising demand, reports The Times newspaper of northwest Indiana.
World Steel Sees Recovery in 2021
20 June 2020 - Steel producers throughout the world generally should see demand pick back up in 2021, but it could take at least two years for it to return to pre-pandemic levels, according to a World Steel Association (worldsteel) economic forecast.
SDI Issues Q2 Guidance
19 June 2020 - Steel Dynamics Inc. (SDI) expects to report second-quarter earnings in the range of 29 cents to 33 cents per share, but is looking for business to improve as steel-consuming businesses resume operations.
Nucor: Q2 Likely to Be Better Than Expected
18 June 2020 - Nucor Corp. is forecasting second-quarter earnings of 10 cents to 15 cents per diluted share, a better-than-expected result that is supported in part by non-residential construction demand, the company said Thursday.
Flat-Rolled Demand Is Beginning to Improve, U. S. Steel Says
17 June 2020 - United States Steel Corporation expects to report a second-quarter loss, but said it believes the quarter will mark the bottom of this year’s COVID-19 downturn.
China Closes in on Production Milestone
15 June 2020 - Through the first five months of 2020, China’s steel production is on pace to cross the 1-billion-metric-ton threshold this year, reports commodities news and pricing service Argus Media.
Cleveland-Cliffs to Restart Iron Ore Mine as Demand Begins to Rebound
09 June 2020 - Iron ore miner and steelmaker Cleveland-Cliffs Inc. is resuming construction of its hot briquetted iron (HBI) plant in Ohio and moving up plans to restart an idled iron ore mine in Michigan.
EU Steelmakers Push for Lower Import Limits
08 June 2020 - Europe’s leading steelmakers are calling on the European Commission to lower the limit on the amount of steel that can be imported tariff-free into the bloc, saying that a potential flood of inexpensive steel threatens an already imperiled industry.
World Steel Association Looks for Steel Demand Rebound in 2021
04 June 2020 - Global steel demand is expected to contract 6.4% this year but might begin to rebound next year, according to a World Steel Association forecast.
ArcelorMittal Still is the World's Biggest Steelmaker. For Now.
03 June 2020 - ArcelorMittal remained the world’s biggest steel producer in 2019, but China Baowu Group closed in on the top ranking during the year, according to a new report from the World Steel Association.
Report: China’s Steel Output Up, Inventories Down
26 May 2020 - Output from China Iron and Steel Association member producers rose to 2.08 million metric tons per day in mid-May, the second-highest level in five years, reports commodities news and pricing service Argus.
thyssenkrupp Keeping All Options Open for Steel Unit, Including Merger
19 May 2020 - thyssenkrupp is accelerating plans to reorganize its overall business and is exploring a potential merger of its steel unit, the company said Monday.
Latin American Producers Caution on Potential Import Problems
14 May 2020 - Alacero, the Latin American Steel Association, is warning of a potential flood of Chinese-made steel as that country ramps its economy back up while others slog through the COVID-19 pandemic.
EUROFER: Challenging Times Ahead for EU Steelmakers
12 May 2020 - Europe’s industrial sector might fully restart by July, but output likely will remain down through the end of the year, according to a new demand forecast from the European Steel Association.
Automakers Set to Resume Production
11 May 2020 - Detroit’s three automakers, Ford, General Motors and Fiat Chrysler, will undertake a phased restart of their North American plants next week, reports WardsAuto.
ArcelorMittal: China’s Excess Steel Inventory Hasn’t Hit the World Market
11 May 2020 - China so far appears to be absorbing the massive steel volumes that piled up during its COVID-19 lockdown, alleviating some of the fears that its excess steel would flood world markets, ArcelorMittal executives said.
Fiat Chrysler Plans for May Restart
07 May 2020 - Fiat Chrysler Automobiles (FCA) is looking to resume production at its North American plants in a little more than a week, reports Wards Auto.
As China’s Economy Reopens, Steel Inventories Begin to Fall
30 April 2020 - China has started to work down its record steel inventories that built up during the country’s coronavirus lockdown, according to the World Steel Association.
CISA Expects Chinese Steel Demand to Pick Back Up
23 April 2020 - The China Iron and Steel Association is predicting a “remarkable” second-quarter rebound as industry ramps back up following the country’s coronavirus lockdown, reports Asia Times Financial.
SDI: No Changes Yet to Texas Mill Construction Schedule
21 April 2020 - Steel Dynamics Inc. (SDI) said it continues to aim for a mid-2021 start-up of its new Texas sheet mill, but will re-evaluate that goal as the year progresses.
