Category: Market Segment

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.

Recent winter storms have impeded barge transportation along multiple Midwestern waterways, according to various transportation services. Likewise, U.S. Steel said it was facing challenging shipping conditions but does not expect customers to be impacted.

SMU’s latest steel buyers market survey results are now available on our website to all premium members. After logging in at steelmarketupdate.com, visit the pricing and analysis tab and look under the “survey results” section for “latest survey results.” Past survey results are also available under that selection. If you need help accessing the survey results, or if […]

Steel mill lead times marginally declined on sheet products this week but edged higher on plate, according to responses from SMU’s latest market survey. Overall, lead times remain one to two weeks longer than levels seen three months ago.

U.S. Steel plans to idle the No. 14 blast furnace at its Gary Works near Chicago for a reline for ~100 days from May to August.

ArcelorMittal’s North American operations posted lower sequential results in the fourth quarter. But with operations returning to normal in Mexico, the company expects to see a volume recovery in the first quarter.

Sheet market participants said conditions this week were more stable than in past weeks, but they remain cautiously optimistic overall.   

U.S. Steel plans to restart Battery #13 at its Clairton Coke Works on Feb. 5. Battery #13 was one of the batteries hot idled since a lethal explosion at Clairton on Aug. 11, 2025.

Domestic steel shipments rose month-on-month and on-year in December, according to the latest figures from the American Iron and Steel Institute (AISI). At the same time, full-year 2025 shipments increased.

Steel imports remain weak in November and December according to recently released final US Commerce Department data. Many of the sheet and plate products we follow slipped to multi-year lows.