Market Segment
May 8, 2025
Written by Stephanie Ritenbaugh
Cleveland-Cliffs said the future of two projects supported in part by funding through the Department of Energy remains uncertain.
Last year, Cliffs was awarded two grants of up to $575 million in total from the DOE, $500 million of which would be used to replace the blast furnace at its Middletown Works in Ohio with a direct-reduced iron plant and two electric melting furnaces.
Domestic raw steel output recovered after seeing significant swings in the prior two weeks, according to the latest AISI figures.
President Trump announced that Mesabi Metallics will build the largest steel plant in the US in the state of Iowa.
Stelco Holdings Inc. is indefinitely idling its finishing operations in Hamilton, Ontario. The Canadian steelmaker, a subsidiary of Cleveland-Cliffs, will concentrate steel production at its Lake Erie Works in Nanticoke, Ontario, a Cliffs spokesperson told SMU.
US steel industry groups representing most of domestic steel production are urging the Trump administration to tighten trade measures on steel imports from South Korea. They are seeking a South Korea-specific tariff-rate quota (TRQ) and an investigation into a reported import surge.
Nucor said its consumer spot price for hot-rolled coil will be $1,220 per short ton (st) for the week of Sept. 28. That's a 10/st increase from a week earlier.