Market Segment
May 6, 2024
Written by Ethan Bernard
Raw steel output in the US ticked up last week, according to the latest American Iron and Steel Institute (AISI) data.
AISI estimated total domestic steel output to have been 1,709,000 short tons (st) in the week ending May 4, up 0.5% from the prior week. However, this was down 2.9% from 1,760,000 st in the same week a year earlier.
US steel shipments fell in September from the previous month but increased marginally on-year. Domestic mills shipped 8,047,607 short tons (st) in September, according to the latest figures from the American Iron and Steel Institute (AISI). That’s down 2.1% from the 8,220,554 st shipped in August, but up slightly from 8,032,536 st in September 2025.
Worthington Steel Chief Executive Geoff Gilmore said this is the toughest steel market he's seen in his nearly three decades in the industry. Gilmore, president and CEO of Columbus, Ohio-based Worthington Steel, recently spoke to SMU about the progression of the company’s acquisition of Germany-based Kloeckner & Co, as well as trends he’s seeing in the market and in the service center space. “I've been in the business for 28 years, and this is the toughest market that I've encountered,” Gilmore told SMU.
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. Net sales rose 7% sequentially and 17% year over year to $4.6 billion, while steel product shipments increased 5% quarter over quarter to just over 4 million metric tons.
The Steel Manufacturers Association (SMA) and the American Iron and Steel Institute (AISI) have weighed in on yesterday’s midterm elections that saw Democrats gain control of both the Senate and the House of Representatives. “Last night's elections delivered historic gains for Democrats in Congress,” SMA EVP Brandon Farris said in a statement to SMU on Wednesday. “Thankfully, a strong American steel industry transcends party lines."
Gerdau announced on Nov. 2 that it will raise special bar quality (SBQ) prices by $60 per short ton ($3/cwt). The increase is effective for all new orders and shipments starting Jan. 1, 2027, according to a letter sent to customers. It applies to all hot-rolled carbon and alloy SBQ products, including rounds, squares, flats, special sections, and thermally processed products.