Sixteen steel-industry associations release another statement commending global forum’s commitment to working to solve issue of steel excess capacity. Source: AISI 2-minute read Following a statement made by steel-industry organizations last week, sixteen steel-industry associations around the world released a statement praising an agreement by the Global Forum on Steel Excess Capacity (GFSEC) which looks…
The Organization for Economic Cooperation and Development acts as an advocate for the steel industry’s stakeholders. With current conditions requiring action from governments, understanding the OECD’s significance on the industry is highly valuable. Source: OECD 3-minute read Last week, several groups in the steel industry released a statement urging the Organization for Economic Cooperation and…
Nineteen steel-industry organizations released a statement calling to increase efforts to resolve the current global excess capacity in the steel sector. Source: AISI 2-minute read Earlier this week, nineteen steel-industry organizations from the Americas, Asia, Africa and Europe released a statement today calling for the governments of steelmaking economies to increase their efforts to resolve…
Xcel Energy, Lightsource BP and EVRAZ North America announce $250 million plan to develop 240M watts solar-powered facility in Pueblo, Colorado. Source: PowerMag 2-minute read Earlier this month, Xcel Energy announced an agreement with EVRAZ North America and Lighthouse BP to develop a solar power plant to provide power to EVRAZ Rocky Mountain Steel facility…
Global steel demand is projected to grow by 3.9% in 2019, and additional 1.7% in 2020, according to worldsteel’s short range outlook (SRO) report for October 2019. Source: worldsteel 3-minute read According to worldsteel, the global steel market remains resilient, despite the current economic climate. “The current SRO suggests that global steel demand will continue…
Recent report from the American Iron and Steel Institute (AISI) shows steel import to be down YTD, with finished steel import market share estimated at 20% for that time period. Source: AISI 1-minute read According to the American Iron and Steel Institute (AISI), August steel imports total 2 million net tons (NT), of which 1.783 million…
Based on AISI report for the week ending on August 31, 2019, domestic raw steel production has decreased slightly from the same period in 2018. Source: AISI 1-minute read Based on an AISI report for the last week in August 2019, domestic raw steel production was 1.85 million net tons (NT) with a capability utilization rate…
U.S. Census Bureau releases its report on steel imports for July 2019 Source: AISI 1-minute read According to U.S. Census Bureau data, the U.S. imported 3,028,000 net tons (NT) of steel in July 2019, of which 1,843,000 NT are finished steel. This represents an increase of 48.3% and 6.6%, respectively, compared to June 2019 data. When…
Treasury Secretary Steven Mnuchin Testifies regarding the administration’s position with Canada, Mexico, and China Source: WSJ 2-minute read While testifying before a Senate Appropriations subcommittee on Wednesday, Treasury Secretary Steven Mnuchin stated that U.S. negotiators are close to resolving trade disputes with two of its closest trading partners. In addition, Mnuchin said that negotiators are likely to…
Market Forecast: Global Demand expected to Rise, but U.S. market-size dips to no. 3 Source: worldsteel and AIST 2-minute read According to the World Steel Association, the global steel demand is projected to expand to 1,735 Million metric tons in 2019, an increase of 1.3% over 2018. In 2020, demand is projected to continue to rise…
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