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    Final Thoughts

    Written by John Packard


    Steel Market Update will begin our mid-March steel survey on Monday morning. Invitations will be sent out at approximately 8 AM ET. If you receive an invitation please spend a few moments to click on the link – which will take you to SurveyMonkey.com – to complete our survey. Your opinions are valuable to our understanding of the flat rolled steel market and we appreciate the few moments it takes to complete our survey.

    A reminder of our upcoming Managing Price Risk workshop – which is dedicated to understanding the hot rolled coil (HRC) futures and options markets as well as the ferrous scrap futures market based on Midwest #1 busheling (BUS). Our workshop assists in the understanding as to how to utilize derivatives either in your own company or as a way of protecting one of your customer’s business. It is also important to understand when the product is not a good fit for your organization. Our next workshop will be in New York City at the NYMEX (CME Group) building in lower Manhattan. Details can be found here or by visiting the events section of our website: www.SteelMarketUpdate.com.

    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.