Category: Market Segment

Emissions rules, production limits and material substitution are reshaping steel and aluminum use in North American vehicles.

The final panel of last week’s Tampa Steel Conference brought together executives from three different service center, all of which were optimistic for 2026.

Once wintery weather gives way to sunnier spring conditions, plate sources foresee the market accepting the $50-60 per short ton spot price increases issued by Nucor Plate Group, Oregon Steel Mills, and SSAB. 

As referenced in Michael Cowden's last Final Thoughts, Mexico has opened a formal investigation into cold-rolled steel imports from the US, China, and Malaysia. Here are the details.

The extreme cold we've seen over the last month or so might be passing. But it's still stormy out there when it comes to trade issues. The latest trade matter that’s led to more pings than usual on my phone and in my inbox: Ternium México filed a trade petition against imports of cold-rolled (CR) coil from China, Malaysia, and the United States.

Steel Dynamics Inc. and SGH Ltd have upped their bid to acquire BlueScope Steel.

Australia-based steelmaker BlueScope reported higher profits in its North American operations in the first half of its fiscal-year 2026 as it remained open to bids for the overall company.

US service centers’ flat-rolled steel supply declined in January, after trending higher in December. Shipping days of supply slipped to 58.5 on an adjusted basis at the end of January, according to SMU data.

Barry Zekelman used his Tampa Steel Conference fireside chat to deliver one of the bluntest assessments yet of the forces shaping North American steel. He warned that a flawed tariff structure and an impending power crunch threaten the industry more than most realize.

The US House of Representatives voted on a resolution on Wednesday, Feb. 11, to disapprove of President Trump's national emergency declaration that led to the imposition of tariffs on Canada. 

Raw steel production ramped up last week to one of the highest weekly rates recorded in the last four years, according to recently released American Iron and Steel Institute (AISI) data.

Ryerson Holding Corp. and Olympic Steel Inc. announced they have completed their blockbuster merger, boosting Ryerson’s position as the second-largest service center in North America.

A €1.3 bn ($1.55 bn) project to install a 2 Mt/y electric arc furnace at Dunkirk, northern France, will go ahead, ArcelorMittal confirmed during a site visit to the integrated steel works by French President Emmanuel Macron.

Companies are framing 2026 around backlog, mix and production discipline rather than a uniform market recovery.

The deal is expected to close Friday, Feb. 13.

Olympic Steel has named Matthew Grussing as vice president – fabrication.

Ternium SA has completed its buyout of Nippon Steel and Mitsubishi’s shares in Brazilian flat-rolled steelmaker Usinas Siderúrgicas de Minas Gerais SA – Usiminas (Usiminas).

Friedman Industries delivered a strong fiscal third quarter, posting sharp gains in sales, shipments, and margins across both its flat-rolled and tubular segments.

There has been some recent activity of exports of basic pig iron from Brazil. Sources there agree on the activity but diverge on the pricing. What is new to the market in Brazil is the buying interest from the European Union, in particularly, Italy.

Plate production for the construction of the Polar Max Icebreaker is underway at Algoma’s Sault Ste. Marie facility in Ontario.  

Cleveland-Cliffs Inc. continued to bleed red in the final quarter of 2025. But the steelmaker expects profitability to improve in 2026 with a troublesome slab contract behind it and more protections from imports in place.

Domestic mill output ramped up last week to a five-month high, according to the latest production data released by the American Iron and Steel Institute (AISI). Production has held strong in recent weeks following the multi-month lows seen at the end of the year.

AZZ Inc. expects steady top-line growth and improved annual earnings, capitalizing on new capacity ramp-up and strong downstream demand.

President Trump signed an Executive Order (EO) on Feb. 6 allowing the administration to impose tariffs on countries that do business with Iran.

The United Steelworkers (USW) Local 1123 has ratified a four-year labor contract with Metallus effective Feb. 5.

Nucor’s consumer spot price (CSP) for hot-rolled coil increased to $975 per short ton (st), up $5/st from last week.

Plate market participants expect domestic producers to issue a $40-60 per short ton (st) price increase.

US-flagged iron ore shipments on the Great Lakes fell last year vs. 2024.

Baker Hughes' latest rig count report shows oil and gas drilling picked up in the US this week, but slowed in Canada. Oil drilling in both countries is down from last year, while gas drilling has picked up, mainly in the US.

November steel exports tumbled 15% from October to the lowest monthly export rate since July 2020.