Market Segment
July 28, 2025
Written by Kristen DiLandro
Cleveland-Cliffs confirmed that the C-6 blast furnace at its Cleveland Works has been restarted and that it has commenced plans to idle its Dearborn Works.
The company announced in March that it would idle the blast furnace, BOF shop, and continuous caster at its facility in Dearborn, Mich.
The plate market squeeze has undoubtedly been driven by improved demand backed by heightened import barriers, including 50% Section 232 tariffs.
Metalformers’ optimism softened in the Precision Metalforming Association (PMA) September Business Conditions Report.
SMU’s latest Flat-Rolled Steel Buyers Survey shows that in a tight US market marked by long lead times, low inventories, and rising prices, foreign products continue to gain the interest of domestic buyers.
Domestic raw steel output fell to a six-month low last week after hitting a multi-year high one week earlier, according to the latest American Iron and Steel Institute (AISI) figures.
The proposed Hyundai-POSCO steel mill in Louisiana has been approved for up to $1.3 billion in bond financing, according to state records and local media reports.