• Skip to main content

    Market Segment

    October 11, 2015

    Court Approves Separation of US Steel From USS Canada

    Written by John Packard

    Late on Friday, a Canadian judge ruled U.S. Steel could sever ties with U.S. Steel Canada and that the Canadian facility would to forward as a new entity. The judge also ruled in favor of U.S. Steel as he permitted the company to suspend health care benefits to 20,600 pensioners as well as property taxes. We do not know for how long as the judge is expected to release details on his ruling on Tuesday of this week.

    As part of the agreement, U.S. Steel will “not be generating any sales on behalf of USSC” and that they intend to load its production on the company’s U.S. based steel mills.

    John Packard

    Read more from John Packard

    Latest in Market Segment

    USS profits rise in Q3 on increased prices, shipments

    U.S. Steel’s profits soared in the third quarter amid higher steel prices and increased shipments. The Pittsburgh-based steelmaker reported net earnings attributable to USS of $859 million in the third quarter, up 759% from $100 million a year earlier. Net sales rose 26% to $4.78 billion in the same comparison. The company said all four of its operating segments generated positive results in Q3’26. “Higher average realized prices and higher shipment volumes drove improvement across the portfolio,” the company said in a statement on Thursday.

    ArcelorMittal sees N. American shipments flat in Q4 as Calvert ramps up

    ArcelorMittal expects North American steel shipments to be flat sequentially in the fourth quarter, as recovery from Canadian and Mexican disruptions is expected to be offset by normal seasonality and maintenance. The company reported third-quarter shipments of 2.645 million metric tons, down 6.6% sequentially but up 1% year over year (y/y). It attributed the shipment decline primarily to lower long product volumes. North America sales were nearly $3.7 billion in Q3’26, nearly level with the previous quarter but 11% higher y/y. Average selling prices rose 5.7% sequentially to $1,228 per metric ton (mt).

    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.

    Commerce amends duties on pipe and tube imports

    The US Department of Commerce recently made adjustments to the anti-dumping duties (AD) on certain steel pipe and tube imports after annual administrative reviews, according to notices in the Federal Register. Commerce reviewed the AD order on imports of oil country tubular goods (OCTG) from Mexico and lowered the dumping rate for one company. Tubos de Acero de Mexico received a 1.87% dumping rate for the year ended Oct. 31, 2024. The rate is down notably from 26.1% in the previous year. The all-others cash deposit rate remains set at 44.93%.

    US tweaks import duties on Korean plate

    After an annual administrative review, the US Department of Commerce is adjusting the countervailing duties (CVDs) on imports of cut-to-length carbon-quality steel plate from South Korea. For the 2024 calendar year, Commerce set CVDs of 1.89% for Dongkuk Steel Mill and 1.39% for Hyundai Steel, according to a Federal Register announcement. The rates have changed slightly from the prior year review: Dongkuk's is down from 2.21% and Hyundai's is up from 1.31%. The cash deposit rate for all other companies remains 3.26%.