Mills
January 26, 2026
Written by David Schollaert
Nucor’s consumer spot price (CSP) for hot-rolled coil increased to $965 per short ton (st), up $5/st vs. the prior week.
The Charlotte, N.C.-based steelmaker said in a letter on Monday, Jan. 26, that the CSP for its West Coast joint venture, California Steel Industries (CSI), is also up $5/st week over week to $1,015/st.
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.
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. Year-to-date (YTD) shipments through September stood at 72,014,802 st, up 4.8% vs. 68,732,750 st in the same period last year.
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.
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.
Metallus reported improved year-over-year profitability in the third quarter, but expects seasonal softness and planned maintenance to weigh on fourth-quarter results. The specialty metals producer pointed to continued demand and a new defense contract as supports for growth.