Company Announcements
March 16, 2026
Written by Ethan Bernard
Nucor raised its consumer spot price (CSP) for hot-rolled (HR) coil to $1,015 per short ton (st), up $5/st from last week.
The Charlotte, N.C.-based steelmaker said in a letter to customers on Monday, March 16, the CSP for its West Coast joint venture, California Steel Industries (CSI), also got a $5/st bump week on week (w/w) to $1,065/st.
Cleveland-Cliffs recorded its first profitable quarter since 2024 on higher steel prices, increased sales volumes, and trade policies supportive of US mills. The Cleveland-based steelmaker swung to a profit of $152 million in Q3’2026 compared to a loss of $251 million in the same quarter last year on revenue that rose 18.5% to $5.6 billion over the same period. Prior to Q3’2026, Cliffs had not posted a profit since Q2’24, when it recorded a profit of $2 million.
Nucor said on Monday, Oct. 19, that its consumer spot price (CSP) for hot-rolled (HR) coil will be $1,255 per short ton (st) this week, up $15/st from the prior week. The CSP for HR coil from California Steel Industries (CSI) on the West Coast will be $1,320/st, also up $15/st from last week. Nucor still offers lead times of three to five weeks, according to its letter to customers. You can track mill price announcements on our website.
Nucor Plate Group said it will increase its fuel surcharge to $40 per short ton (st) next month, effective for all shipments beginning Nov. 1. The Charlotte, N.C.-based steelmaker first said in April that the fuel surcharge was necessary to address rising costs, initially setting the surcharge at $10/st on April 16. The company had previously maintained the $10/st surcharge rate for four straight months through Aug. 17. But it has since doubled its rate in back-to-back months—increasing its surcharge to $20/st in September, followed by its Oct. 15 notice to $40/st. “We remain committed to providing reliable service and transparency as we adapt to changing market dynamics,” Nucor said in a letter to customers on Thursday evening. Nucor announces the surcharge amount on or about the 15th of each month for shipments beginning the following month.
Hertha Metals has broken ground on its first commercial plant, a $100 million project that the startup says will demonstrate its process at scale and lay the groundwork for a 500,000-metric-ton-per-year steel mill. The company celebrated the groundbreaking of the Hertha Chalyx project on Friday, Oct. 9, in Conroe, Texas. The plant is designed to produce ~10,000 metric tons of steel-grade and magnet-grade high-purity iron each year. It will run on domestic iron ore, primarily from Minnesota’s Iron Range, and natural gas from Texas.
Varsteel Ltd. has acquired two additional steel and aluminum service centers in Canada. The Lethbridge, Alberta-based company has added to its portfolio Acier Simmonds of Sherbrooke, Quebec, and Acier Menard of Granby, Quebec. The acquisition builds on Varsteel’s three most recent acquisitions and further expands its market presence in Quebec.