Economy & Markets
The latest on the economy's health and the markets driving the supply and demand of steel.
Latest News
U.S. Iron Ore Miners Say No Virus Impacts...Yet
19 March 2020 - Minnesota’s Iron Range is bracing for a potential recession, but for now iron ore operations are continuing as they have, reports the Duluth News Tribune.
Nucor, SDI Off to Solid 2020 Start, But Coronavirus Consequences Loom
19 March 2020 - Impacts from the coronavirus have so far been minimal, but Nucor and Steel Dynamics said Thursday that they each expect to see fallout further down the road.
Coronavirus Forces North American Automakers to Halt Production Lines
19 March 2020 - As the coronavirus pandemic worsens, North America’s automakers are temporarily closing plants to protect workers and help halt the spread of the virus, reports the Associated Press.
USMCA Clears Canadian Parliament, U.S. Targets June Implementation
18 March 2020 - Canada’s parliament has ratified the U.S.-Mexico-Canada agreement, officially bringing all of North America into the replacement NAFTA deal.
Coronavirus Stalls China’s Manufacturing Sector in February
02 March 2020 - China’s manufacturers saw record declines in new orders, output and employment last month as the coronavirus outbreak slowed the world’s second largest economy.
Japanese Steelmakers Tell China to Bring Production in Line With Demand
27 February 2020 - The chairman of the Japan Iron and Steel Federation has called on Chinese steelmakers to curtail steel production as steel inventories build due to the coronavirus outbreak.
JFE Steel to Idle Some Plate Mills in Japan
18 February 2020 - Citing falling demand and slowing growth, JFE Steel has announced plans to idle parts of its plate-making operations in Japan, the Jiji Press news service reports.
Survey: Coronavirus Pushes Chinese Mills to Consider Curtailments
18 February 2020 - Market impacts from the coronavirus outbreak have prompted roughly one-third of Chinese steel producers to consider production curtailments, according to a survey published by commodities news and price reporting service S&P Global Platts.
EUROFER: Persistent Challenges Likely to Weigh on EU Steel Markets in 2020
30 January 2020 - Steel demand in the European Union continued to lag in the third quarter of 2019 and isn’t likely to significantly improve until at least the second half of this year, according to the European Steel Association.
Work Begins on Nucor Plate Mill
29 January 2020 - Nucor Corp. has begun moving earth for its US$1.35 billion plate mill in Kentucky and has struck an arc on the electric arc furnace (EAF) at its new rebar mill in Missouri, Nucor president and chief executive officer Leon Topalian said on Tuesday.
Gerdau to Halt Melting, Rolling Operations at Michigan Mill
27 January 2020 - Gerdau Special Steel North America will idle the meltshop and rolling mill at its Jackson, Mich., USA, plant this April and shift production to two other facilities, the company has announced.
Record Mill Shipments, Strong Sales Contributed to Profitable Year at SDI
23 January 2020 - Despite falling steel prices that marked much of 2019, Steel Dynamics Inc. (SDI) recorded one of its best years ever, posting record shipments and near-record net sales, the company reported Thursday.
Chinese Steel Production Reaches New High
17 January 2020 - Robust demand pushed China’s crude steel production to a record 996 million metric tons in 2019, reports the Reuters news service.
ArcelorMittal Blast Furnace to Return to Service, But Other Outages Planned
10 January 2020 - ArcelorMittal intends to put an idled blast furnace back into service at its Gijón plant in northern Spain, but will halt other production lines this quarter in order to cope with lower demand, reports Kallanish Steel.
Liberty Announces Layoffs at U.K. Mills
10 January 2020 - Citing challenging market conditions, Liberty Steel Group will lay off up to 355 employees at its U.K. mills in South Yorkshire and South Wales, the company has said.
Monnet Ispat Eyes Restart
02 January 2020 - Indian steelmaker Monnet Ispat & Energy is to resume steel production this month following an extended outage for maintenance and upgrades, according the Business Standard newspaper.
Nippon Steel Nisshin to Halt Blast Furnace
26 December 2019 - Nippon Steel Nisshin Co. Ltd. plans to bank a blast furnace in southern Japan next year, saying that a slowing market and other factors necessitated the move.
U. S. Steel Accelerates Best of Both Strategy
20 December 2019 - United States Steel Corporation plans to indefinitely idle parts of its Great Lakes Works in Michigan next year as it advances its “best of both” strategy, through which it intends to narrow its operational focus to a few core integrated assets and expand into electric arc furnace steelmaking.
Steel Demand Intact, But SDI Expects Lower Q4 Profits
17 December 2019 - Planned outages, lower prices and seasonally lower shipments are likely to offset Steel Dynamics Inc.’s fourth-quarter profits, the company has said.
ArcelorMittal, Nippon Steel Look to Expand Essar Steel
16 December 2019 - ArcelorMittal and joint venture partner Nippon Steel Corp. have finalized their acquisition of Essar Steel India Ltd., completing a deal that gives both a foothold in the growing Indian steel market.
