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With steel overcapacity touching a historic high at about 737 million tons (MT), and China adding to new capacity, this remains a huge industry concern.

Not only is the demand-supply market askew, jobs are being lost, especially in the United States, which, by one reckoning, has seen about 35% of steelmaking jobs vanish in the last two decades or so.

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So, when representatives of G20 member states met at the end of November for the Global Forum on Steel Excess Capacity in Berlin and announced they had come to a basic understanding on the need for restructuring of the sector and dismantling market-distorting subsidies to ensure a level-playing field, many welcomed the move.

In the meeting, China and the U.S. may have locked horns — but China’s neighbor, India, on the other hand, seemed more content regarding the developments coming out of the meeting.

(more…)

Michael Flippo/Adobe Stock

This morning in metals news, Toyota and Panasonic are considering working together on developing electric car batteries, U.S. Steel did not test for toxic materials after a chemical spill into Lake Michigan in October and U.S. raw steel production last week was up 4.3% compared with the same week in 2016.

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A Toyota, Panasonic Partnership?

According to Reuters, Toyota and Panasonic are considering joining forcing in developing electric batteries for vehicles.

Panasonic already manufactures batteries for Toyota’s gasoline-electric and plug-in hybrid vehicles, according to the report.

U.S. Steel Didn’t Test Water After October Chemical Spill

Documents posted online by state regulators Tuesday show that following a U.S. Steel chemical spill in a Lake Michigan tributary in October, the company did not test the waters for toxic materials, according to the Chicago Tribune.

The October spill was the second of the year for U.S. Steel, the first affecting the same waterway in April.

According to the Tribune report, an inspector from the Indiana Department of Environmental Management visited U.S. Steel last month, when plant managers told the inspector they decided not to test for hexavalent chromium in the water.

U.S. Raw Steel Production Up 4.3%

U.S. raw steel production for the week ending Dec. 9 jumped 4.3% compared with the same week last year, according to a report from the American Iron and Steel Institute (AISI).

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Domestic raw steel production was 1,672,000 net tons, while it was 1,607,000 net tons in the week ending Dec. 9, 2016.