Market Segment
September 25, 2025
Written by Ethan Bernard
Barry Zekelman has reduced his company’s stake in Canadian steelmaker Algoma Steel.
Zekelman, executive chairman and CEO of Chicago-based pipe and tube maker Zekelman Industries, lowered the stake to 3.08% from 5.02%, according to a filing with the US Securities and Exchange Commission on Tuesday, Sept. 23.
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.
The United Steelworkers (USW) union plans to extend its current labor contract with U.S. Steel and Cleveland-Cliffs by 48-hours on a rolling basis, the union told SMU on Monday.