Company Announcements
May 12, 2026
Written by Laura Miller
FabArc Steel Supply announced it will be leasing a 60,000-square-foot fabrication facility on 29 acres in Decatur, Ala.
“FabArc’s expansion into Decatur comes as the company continues to scale operations to meet increasing demand across a growing national economy,” the company said in a statement.
Tinplate and specialty flat-rolled products supplier Titan Steel has closed on its acquisition of Randall Metals. Further terms of the deal were not disclosed. Randall Metals is a family-owned metals service center, specializing in tin mill and flat-rolled metals products.
Nova Steel, a steel pipe fabricator based in Montreal, has announced layoffs it claims are related to an alleged surge of low-priced imports. The Canadian company announced the temporary layoff of 36 employees at its Saint-Patrick facility, effective Friday, Nov. 13. Nova said unfairly traded steel pipe imports have affected it for years. The company noted that it has brought trade cases to the Canadian government to address the problem.
Nucor said on Monday, Nov. 9, that its consumer spot price (CSP) for hot-rolled (HR) coil will be $1,295 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 $1,365/st, also up $15/st from last week. Nucor continues to offer lead times of three to five weeks, according to its letter to customers. You can track mill price announcements on our website. Steel Market Update (SMU) published a weekly price assessment on Tuesday, Nov. 3, showing HR coil prices averaging $1,350/st, up $45/st from the previous week. We will update our prices on the evening of Tuesday, Oct. 10.
Cleveland-Cliffs and the United Steelworkers (USW) announced on Friday that they had reached a tentative deal for a new, four-year labor pact. The Cleveland-based steelmaker said the agreement covered approximately 12,000 USW members in Indiana, Ohio, Pennsylvania, Minnesota, and Michigan. The company noted that the deal included workers not only at its steel plants but also its mining operations—in other words, all of its USW labor contracts up for renewal. “Our USW-represented employees do work that is essential to Cleveland-Cliffs and to our country. These agreements recognize their contributions and give us the stability we need to invest, compete and continue strengthening American steelmaking," Cliffs Chairman and CEO Lourenco Goncalves said in a statement.
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.