Category: Mills

Buyers continue to report mills are holding a firm grip on sheet and plate prices.

Algoma CEO forges new path against tariff headwinds

U.S. Steel delivered a mixed first quarter. Segment performances diverged sharply as winter weather, outage activity, and major capital projects weighed on results.

Plate market participants wonder how plate supply will hold up in coming weeks and months, sources told SMU.   Some sources called out dwindling availability of heavier grades and said certain domestic producers have “a huge backlog.” of all grades.

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

Chicago-based pipe and tube manufacturer Zekelman Industries has appointed Jason Nofziger as its vice president of supply chain, effective May 11.

Steel Dynamics Inc. (SDI) has revised their metallic coating extras higher for galvanized, Galvalume, Galfan, and aluminized type 1 products.

US mills' capability utilization hit 81.4% last week, up from 80.4% the week prior and from 76.6% a year ago.

In a May 11 price notice, SSAB upped its transaction prices for new, non-contract plate orders confirmed to ship from June 28 onward.

On Monday, Nucor hiked its spot HR price by $10/ton.

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.  

Sheet market participants found modest spot price increases this past week, but conceded that overall market conditions remained stable.  

A panel of steel executives said bolstering trade also protects it from the Iran war and other geopolitical risks.

South Korea’s Hyundai and POSCO have chosen Italian mill equipment provider Danieli to build several installations at their proposed steel mill in Louisiana.

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.

Ternium expects steel demand in Mexico to keep improving through the second quarter as destocking fades and new industrial policies take hold.

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.

Klöckner & Co.’s North American business attributed its first quarter losses to reduced shipments, a knock-on effect of its divestment in 8 US-based distribution sites, at the end of 2025.

Ternium SA’s profits more than doubled in the first quarter as work continues to advance at its industrial center in Pesqueria, Mexico.

US steel shipments increased in March from February as well as year over year, the American Iron and Steel Institute said Monday.

POSCO said its negotiations with Cleveland-Cliffs remain active, citing differences in opinions for lagging progress.

Domestic raw steel production increased to a new multi-year high last week, per AISI figures.

Chinese major Baosteel will re-evaluate its investment in a steel plate making joint venture in Saudi Arabia because war in the Middle East has added uncertainties to the project, Baosteel Chairman Zou Jixin said.

The prevailing sentiment for May is that #1 busheling and bundles are likely to increase. This may cause pig iron to continue its upward trajectory.

Nucor increased its consumer spot price (CSP) for hot-rolled (HR) coil to $1,070 per short ton (st), a $5/st increase from last week.

Oregon Steel Mills (OSM) is attempting to push spot plate prices up by a minimum of $60 per short ton (st).

Steel mill lead times continue to hold at or near multi-year highs for both sheet and plate products, territory they have been in two months.

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%.

Gerdau’s North American operations reported increased profits in the first quarter on higher prices and shipments.

U.S. Steel has announced a $1.9 billion investment to construct a new direct-reduced iron (DRI) facility at Big River Steel (BRS) Works in Osceola, Ark.