Category: Canada

The US and Canadian rig counts both increased this week, according to the latest data from Baker Hughes.

Two Ontario-based steel importers and their president have agreed to pay $19 million to settle US allegations that they avoided customs duties on flat-rolled steel by falsely declaring its origin, the Department of Justice said.

inancially burdened Baffinland Iron Mines is applying for shelter from creditors under Canada’s Companies’ Creditors Arrangement Act (CCAA).

This item was first published by CRU. To learn about CRU’s global commodities research and analysis services, visit www.crugroup.com. The uptrend in sheet prices is expected to continue in the coming month in most markets amid elevated energy and freight costs stemming from the Middle East conflict. Europe will buck the trend as demand in the […]

The US rig count crept higher for a fourth week, while Canada's count held steady for a second, according to the latest data from Baker Hughes.

Algoma CEO forges new path against tariff headwinds

The Canada-United States-Mexico Agreement (CUSMA) is envied by many as one of the strongest trading partnerships in the world.

Algoma Steel's loss widened in the first quarter as tariffs and the EAF transition impacted its bottom line.

US steel exports improved in March but remain historically low, having trended lower for over a year now.  

The process to reduce Section 232 steel and aluminum tariffs for producers in Mexico and Canada garnered mixed reactions from steel and metals’ supply chain advocacy groups.  

US and Canadian drilling activity both ticked higher this week, according to recently released data from Baker Hughes.

Multiple risks continue to cloud the automotive outlook, including semiconductor shortages, tariff uncertainty, weaker demand, policy changes, geopolitical disruption, the war in Iran, supply-chain shocks, protectionism, cost pressures, and intensifying competition.

Following the historical lows seen in recent months, steel import volumes marginally increased in March and April.

The current rally in sheet prices has lasted more than seven months, something without recent precedent. Unless your definition of recent includes the snapback in demand following the pandemic.

CFO Martin Jurasek described the first quarter as a “positive inflection point” as strategic initiatives, including the recent Kloeckner acquisition, began to materially lift results.

A weekly guest column that examines North American steel issues leading up to the USMCA periodic review in July.

The export market on the North American East Coast has been firming after seeing a sale that climbed to $415.50 per metric ton (mt) CFR for HMS 85/15.

Russel Metals’ earnings jumped in the first quarter as it reported record quarterly shipments and revenue.

AISI, SMA, and the Canadian Steel Producers Association will each publish a monthly column in the lead-up to the USMCA periodic review.

The Canadian government has announced CAD$1.5 billion (USD$1.1 billion) in funding available to help companies impacted by US metals tariffs.

Drilling activity increased in the US this week but declined in Canada, per Baker Hughes.

ArcelorMittal’s North American operations posted higher sales results sequentially and year over year (y/y) in its Q1 earnings report.   The North American segment of the Luxembourg-based steelmaker reported 8.3% higher sales in Q1’26 compared with the previous quarter. The steelmaker credits higher average selling prices, up 3.5% from Q4, and a jump in steel shipments, up 5.2%.

World crude steel production for the 69 countries reporting to the World Steel Association (worldsteel) totaled an estimated 159.9 million metric tons in March. Production jumped 12.8% from a shorter February, but was down 4.0% from March 2025, according to newly released data.

US Trade Representative Jamieson Greer said rules of origin will be a major focus of upcoming USMCA review talks.

Baker Hughes' latest data shows the US rig count inching up by one while the Canadian count held steady in the week ended April 24.

The Canadian International Trade Tribunal (CITT) determined oil country tubular goods (OCTG) sold by Tenaris S.A. and certain exporters from South Korea, Turkey, and the Philippines are subject to antidumping tariffs.  

Dozens of Canadian United Steelworkers (USW) labor union members lobbied federal politicians on Thursday, April 23 in Ottawa.

Varsteel Ltd said acquiring Pacifica Steel’s structural steel division supports its geographic expansion strategy. 

Core to the negotiations will be the need for a fundamental rebalancing of the relationship between the United States, Mexico, and Canada - especially when it comes to the steel and autos supply chain.

US steel exports held steady from January to February and remain near historical lows.