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    SMU Survey Overview

    Written by John Packard


    Written by: John Packard, Publisher

    An important piece of the value behind Steel Market Update is based on the relationships I developed during my 31 year tenure in the flat rolled steel business. Over that period of time I interacted with hundreds of companies in various capacities but primarily in a sales or management function. Many of those contacts have managed to make their way on to the Steel Market Update (SMU) steel market survey. Not all of them are members of Steel Market Update and we have introduced many new buyers and sellers of steel into the survey over the past five years who have met our qualifications for participation – active buyers or sellers of flat rolled steel in the North American market with knowledge of pricing, inventory and market trends within the industry.

    Latest in Product

    Algoma lands record steel order for Seaspan icebreakers

    Algoma Steel has secured a contract to supply up to 24,000 metric tons of structural steel plate for Seaspan Shipyards’ Canadian Coast Guard icebreaker program. The agreement, valued at about $182 million Canadian, covers steel for up to six multi-purpose icebreakers, at ~4,000 metric tons per vessel. Algoma will produce the plate, with Stigterstaal Canada serving as the marine steel processing and distribution partner. The order is the largest polar-class steel order in Algoma’s history, according to the companies.

    Ternium plans February start for new slab mill, sees Mexico prices rising

    Ternium SA expects a modest seasonal decline in consolidated steel shipments in the fourth quarter, but sees Mexico revenue per ton continuing to rise with North American steel price trends. The outlook came as the company released its third-quarter earnings report and prepares to start steel shop production at its new Pesqueria slab mill in February. “We are seeing a strong demand in Mexico … strong demand in the US,” CEO Maximo Vedoya said on a conference call on Wednesday to discuss the quarterly earnings. Ternium reported Q3’26 net income of $368 million, compared with $465 million in Q2’26 and a $270-million loss in Q3’25.