World crude steel production reached 1,622.8 MT for the year 2015, down by - 2.8% compared to 2014. Crude steel production decreased in all regions. Annual production for Asia was 1,113.8 MT, a decrease of -2.3% compared to 2014. China’s crude steel production in 2015 reached 803.8 MT, down by -2.3%. Japan produced 105.2 MT in 2015, down by -5.0%. In 2015, the EU (28) produced 166.2 MT of crude steel, a decrease of -1.8% compared to 2014. Crude steel production in North America was 110.7 MT, a decrease of -8.6% compared to 2014. The CIS showed a decrease of -4.3% in 2015, producing 101.5 MT of crude steel. (Source – Steelonthenet)
Fresh evidence of how the steel crisis is intensifying has come from Spain, with Arcelor Mittal mothballing a plant in Sestao. The company blamed record steel imports from China at below production prices and falling selling prices, for the decision to shut the electric arc furnace plant near Bilbao in northern Spain, which produces slab and coil steel. Its Sestao plant produced almost 2.5 MT of steel a year. (Source – Steelonthenet)
US Steel reported a US$ 1.51 bn. net loss for 2015, under pressure from sheet and tube imports, lower shipments levels and declining prices. In 2014, USS reported US$ 102 million in net profit. USS' 2015 net loss included US $426 million in noncash charges for restructuring and other strategic actions and US$ 766 million in non-cash charges for a full valuation allowance related the company's domestic deferred tax assets. For full-year 2015, USS' US sheet capability utilization averaged 60%, down from 78% in 2014. (Source - SBB, London)
Tenaris, USA will suspend operations at its pipe couplings facility in Houston at the end of March for an undetermined period of time. The decision was driven by a combination of factors, including the falling price of oil, reduced rig activity, and close to a year of inventory on the ground created mostly by unfairly traded imports of OCTG from South Korea. The idling will affect about 165 employees. (Source - SBB, London)
AK Steel, USA reported a net loss of US$ 510.7 million for 2014-15. Included in the net loss for 2015 were charges to write-off the company’s investments in Magnetation LLC and AFSG, a net corridor charge related to pension and OPEB liabilities, and charges related to the temporary idling of the Ashland Works blast furnace and steelmaking operations. For 2014, the company reported a net loss of US$ 96.9 million. Shipments for 2015 were 7.09 bn.T. as compared to 6.13 bn.T. in 2014. (Source – Press Reports)
Fresh evidence of how the steel crisis is intensifying has come from Spain, with Arcelor Mittal mothballing a plant in Sestao. The company blamed record steel imports from China at below production prices and falling selling prices, for the decision to shut the electric arc furnace plant near Bilbao in northern Spain, which produces slab and coil steel. Its Sestao plant produced almost 2.5 MT of steel a year. (Source – Steelonthenet)
US Steel reported a US$ 1.51 bn. net loss for 2015, under pressure from sheet and tube imports, lower shipments levels and declining prices. In 2014, USS reported US$ 102 million in net profit. USS' 2015 net loss included US $426 million in noncash charges for restructuring and other strategic actions and US$ 766 million in non-cash charges for a full valuation allowance related the company's domestic deferred tax assets. For full-year 2015, USS' US sheet capability utilization averaged 60%, down from 78% in 2014. (Source - SBB, London)
Tenaris, USA will suspend operations at its pipe couplings facility in Houston at the end of March for an undetermined period of time. The decision was driven by a combination of factors, including the falling price of oil, reduced rig activity, and close to a year of inventory on the ground created mostly by unfairly traded imports of OCTG from South Korea. The idling will affect about 165 employees. (Source - SBB, London)
AK Steel, USA reported a net loss of US$ 510.7 million for 2014-15. Included in the net loss for 2015 were charges to write-off the company’s investments in Magnetation LLC and AFSG, a net corridor charge related to pension and OPEB liabilities, and charges related to the temporary idling of the Ashland Works blast furnace and steelmaking operations. For 2014, the company reported a net loss of US$ 96.9 million. Shipments for 2015 were 7.09 bn.T. as compared to 6.13 bn.T. in 2014. (Source – Press Reports)
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