It's happening. The manufacturing sector in the United States is contracting again. The economic growth slowing trend is accelerating. The yield curve is extremely inverted, leading manufacturing surveys are in contraction territory, and the Fed isn't done hiking. It's truly a toxic environment for cyclical companies.
More Steel News
India seeks to include steel in export incentive scheme – source
United States   November 09,2022 08:00 AM
India's trade ministry has sought to extend an export promotion scheme to reimburse some local levies for domestic steel…
Moody's says India a bright spot in global steel demand
United States   November 07,2022 08:00 AM
Indian demand remains a bright spot in major steel markets as domestic consumption is seen growing at a "high single digit"…
EU steel demand to drop 3.5% in 2022 as energy crisis bites -Eurofer
United States   October 26,2022 06:00 AM
Steel demand in the European Union is expected to erode by 3.5% this year and fall 1.9% in 2023, hit by soaring energy prices…
US Steel Prices May Benefit from Low-Carbon Demand
United States   September 22,2022 08:00 AM
The Biden-Harris Administration today announced that they would “prioritize the purchase of key low-carbon construction…
Japan's JFE to decide on electrical steel sheet JV with JSW in India by end-2022
United States   September 08,2022 07:00 AM
Japan's JFE Steel aims to decide this year on a joint venture in India with partner JSW Steel (JSTL.NS) to produce electrical…
Steel price drops on China’s covid, emission led production curbs
United States   August 30,2022 08:00 AM
Steel price extends the week-start pullback from a two-week top. China announces further covid-led manufacturing restrictions…
China’s Steel Industry Is In Crisis
United States   August 29,2022 08:00 AM
Everyone thought a COVID-19-ravaged steel supply market in China took a turn towards recovery. However, many other hurdles…
Steel price edges higher amid mixed clues from China
United States   August 25,2022 08:00 AM
Steel price remain mildly bid around a one-week high, flashed the previous day. It’s worth noting that the hopes of more…
Steelmaker Ternium expects revenue per ton to drop in Q3 on lower steel prices
United States   August 03,2022 07:00 AM
Steelmaker Ternium (TX.N) expects revenue per ton to decrease in the third quarter of 2022 due to lower benchmark steel…
Aluminium producers feel the margin pain as price slumps
United States   July 22,2022 07:00 AM
U.S. producer Alcoa (AA.N) reported an average realised price on third-party sales of $3,864 per tonne in the second quarter,…
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