Category: Company Announcements

Steel Market Update’s offices will be closed on Friday, July 3, in observance of Independence Day.

Canada’s Varsteel Ltd. has acquired Acier Quebec-Maritimes Inc., a steel and aluminum service center in Riviere-du-Loup, Quebec.

Mexican steelmaker Talleres y Aceros SA de CV (Tyasa) has placed an order from Primetals Technologies for a twin vacuum degassing plant to be installed at its Ixtaczoquitlán mill in southeastern Mexico.

Wheeling-Nippon Steel Inc. announced a series of promotions across the West Virginia-based company.

Algoma Steel Group expects lower shipments in its second quarter of 2026 but anticipates adjusted EBITDA to move back into the black.

Target Steel and Target Metal Blanking are expanding into Mexico.

Nucor held its consumer spot price (CSP) for hot-rolled (HR) coil at $1,130 per short ton (st) for the week of June 29. The sideways move is the first of its kind since Jan. 21.

Flack Global Metals (FGM) has consolidated Pacesetter Steel Service under the FGM brand, finalizing the group’s formal transition, the company said on Friday.

Starting on June 26, SMU’s Final Thoughts will become a standalone article delivered on Fridays, creating a dedicated space for thought leadership and market analysis from our experts.

During Worthington Steel’s fiscal fourth-quarter earnings call on June 25, company executives cited interest rates as a market headwind.

Worthington Steel swung to a loss in its fiscal fourth quarter as the company completed its acquisition of Germany-based Kloeckner & Co.

The company announced an investment of more than $90 million for its steel shop in Koppel, Pa., and its seamless pipe manufacturing plant in Ambridge, Pa.

During its upcoming contract negotiations with U.S. Steel (USS), the United Steelworkers (USW) labor union will address wages, retirement, contracting out, health & safety, training, and job security.  

The investment will install a new quench-and-tempering line at the facility, which manufactures seamless pipe and tube.

SSAB Americas, the Greenbrier Companies, and Alter Trading have partnered on a project where recycled materials can be used to make near-zero emissions steel and returned to the supply chain.

Starting June 26, SMU’s Final Thoughts will become a standalone article delivered every Friday, creating a dedicated space for thought leadership and market analysis from our experts.

Steel Dynamics Inc. (SDI) said it expects to record a $16 million asset write-down in the second quarter after deciding to relocate a planned Aluminum Dynamics (ADI) recycled aluminum slab casting center from Benson, Ariz., to Columbus, Miss.

Steel Dynamics Inc. expects to post higher sequential earnings in the second quarter, with “meaningfully higher” profitability from its steel operations.

Nucor expects higher earnings in the second quarter, both sequentially and year over year, and anticipates increased profits sequentially across all its operating segments. The steel mills segment is expected to see the biggest boost.

Canada’s steel production dropped sharply in May, falling 15% year over year and running 14% lower year-to-date, according to Earth-i’s Savant Global Monitoring Index. May’s production was just under 900,000 metric tons.

Bull Moose Tube Co. and Hanna Steel Corp. have reached an acquisition agreement, which will expand Bull Moose’s manufacturing footprint and add new tubing, coating, and logistics capabilities.

U.S. Steel has selected Charlotte, N.C.-based Midrex Technologies to supply the direct-reduced iron (DRI) plant to its Big River Steel Works in Osceola, Ark.

Nucor Plate Group will maintain its previously announced fuel surcharge of $10 per short ton for next month, effective on all shipments beginning July 1.

The United Autoworkers (UAW) local 2093 voted 80% in favor of ratifying the latest contract agreement between the union and American Axle/Dauch Corporation.  

Nucor announced on Monday, June 15, that its consumer spot price (CSP) for hot-rolled coil will be $1,125 per short ton (st) for the week, up $10/st from last week.

Friedman Industries posted record sales, higher volumes, and sharply improved earnings in fiscal 2026. This was driven by stronger demand, higher average selling prices, and continued contributions from its Century Metals acquisition.

The provisional pact comes 10 days after UAW Local 2093 members went on strike on June 1.

The American Iron and Steel Institute (AISI) reports that US steel shipments fell from March to April.

Over the next three years, U.S. Steel’s investment to upgrade its hot strip mill at Mon Valley is projected to result in over 6,000 jobs and $58 million in tax revenue, according to an economic impact study conducted by the Parker Strategy Group.

SSAB Americas plans to increase plate prices by at least $40 per short ton (st), according to a letter sent to customers on Monday.