Company Announcements
May 11, 2026
Written by Laura Miller
US steel mills continue to increase production, with weekly output again reaching multi-year highs.
The latest data from the American Iron and Steel Institute (AISI) show raw steel output rising 1.3% week over week (w/w) to 1,880,000 short tons (st) in the week ending May 9. Production is up 9.3% year over year.
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.
Nucor said on Monday, Oct. 12, that its consumer spot price (CSP) for hot-rolled (HR) coil will be $1,240 per short ton (st) this week, a $10/st increase from a week earlier. The CSP for HR coil from California Steel Industries (CSI) on the West Coast will be $1,305/st, up $15/st from the prior week. Nucor is still offering lead times of three to five weeks, according to the letter to customers. You can track mill price announcements on our website. Steel Market Update (SMU) published a weekly price assessment on Tuesday, Oct. 6, showing HR coil prices averaging $1,270/st, up $10/st from the previous week. We will update our prices on the evening of Tuesday, Oct. 13.
Welcome to the first SMU Daily Digest, your new morning roundup of steel market news and insights. Delivered every weekday at 10 a.m. ET, each newsletter features abbreviated versions of our latest stories. Click through to read the full articles on our website, where news is published throughout the day. If you need help, contact smu@crugroup.com. We welcome your feedback on the new format.
On October 12, SMU will launch our Daily Digest newsletter, a new way to keep you informed on the latest steel market news and insights. The Daily Digest will replace the current Executive and Premium newsletter emails.
The United Steelworkers (USW) union has not yet reached a labor agreement with either U.S. Steel or Cleveland-Cliffs.