Category: Company Announcements

Nucor increased its weekly hot-rolled coil spot list price by $10 per short ton (st) again on Monday, Dec. 15. This was its eighth increase in as many weeks, moving up $65/st over that span.

Mike Mechley, executive vice president of procurement at Zekelman Industries, is retiring after nearly two decades with the Chicago-based company.

Nucor has announced new base prices for galvanized steel products as of Wednesday, Dec. 10.

Triple-S Steel Holdings and a European partner have taken a major equity stake in Zimmer Staal, a steel distributor based at the Port of Antwerp in Belgium.

The United Steelworkers (USW) Local 1123 union and Metallus have reached a new tentative agreement for a four-year contract.  

The Pennsylvania Commonwealth Court has sided with Wheatland Tube, a Zekelman Industries company, in a landmark trade ruling that bars public agencies and contractors in the state from using Mexican-made steel conduit in state-funded projects.

The Coalition for a Prosperous America (CPA) is urging the Trump administration to keep Section 232 steel and aluminum measures focused on rebuilding US capacity, rather than using them as bargaining chips in unrelated negotiations.

Lock Joint Tube has acquired the Tectron mechanical tube product line and associated manufacturing facility in De Pere, Wisc., from Atkore Inc.

Deere & Company's latest earnings report put a spotlight on the mounting costs of tariffs across the agricultural and heavy machinery sectors.

Steel Market Update staff will be taking some time off for the Thanksgiving holiday.

Across BlueScope as a whole, it was the North Star operations in Delta, Ohio, that shone brightest in the Australian company's first-half fiscal 2026 trading update.

ArcelorMittal's Mexican operations have faced a turbulent stretch over the past two years, marked by labor unrest and operational setbacks at its Lázaro Cárdenas steelworks.

SunCoke Energy Inc. and Cleveland-Cliffs Inc. have agreed to extend their coke supply agreement for another three years.

Flack Global Metals announced two leadership appointments to drive the commercial strategy of the Scottsdale, Ariz.-based service center and industrial platform.

Algoma Steel plans to continue its transition to electric-arc furnace (EAF) steelmaking using the CA$500 million in loans from the Ontario provincial and Canadian federal governments.

Steel Dynamics Inc. announced Matt Bell as the new head of the company’s metals recycling platform, OmniSource.

Flat-rolled metals processor and pipe manufacturer Friedman Industries achieved record sales volume in its fiscal second quarter.

Russel Metals posted mixed financial results in its third-quarter earnings report. The Mississauga, Ontario-based metals processing and distribution company generated Canadian $35 million (US$53.5 million) in net income for Q3'25, representing a 1.4% increase from the same quarter in 2024.

North America continues to anchor Klöckner & Co.’s performance in 2025. The Kloeckner Metals Americas segment delivered robust earnings in the third quarter despite softer steel prices.

Tania Archibald will assume the role of managing director and chief executive at the Melbourne-based company as of Feb. 1, 2026.

The United Steelworkers (USW) union has named Roxanne Brown as its next international president.

The new Steel Market Update website is officially live.

The Steel Market Update website will be temporarily unavailable on Monday, Nov. 3, from approximately 4:00–8:00 a.m. Eastern Time.

The revamped Steel Market Update website goes live on Monday, Nov. 3, 2025.

Joe 'Magic' was known across the industry as a remarkable salesman with a larger-than-life personality. In 1974, he founded a one-person steel brokerage operation in Michigan that would become Magic Steel.

Brown's career began at the historic integrated U.S. Steel mills near Pittsburgh. He now helps lead the Big River Steel EAFs in Arkansas.

Mining metals analyst Timna Tanners has joined Wells Fargo as managing director of equity research, according to a post on her LinkedIn profile.

SEC documents also name Trump specifically as having veto power certain decisions are part of the “Golden Share” provision.

Go beyond the classroom with a behind-the-scenes mill tour at SMU’s next Steel 101 – an immersive, expert-led introduction to steel production and market dynamics.

SMU Steel Summit 2025 will be here before you know it. Be sure to register!