Category: Mills

Domestic raw steel output declined last week, moving lower for a second straight week after seeing notable swings over the prior several weeks, according to the latest American Iron and Steel Institute (AISI) figures. Over the past six weeks, US production has fluctuated significantly, hitting a multi-year high and a six-month low. While the seesaw pattern has been extreme, output has mostly trended lower since peaking in May. And despite repeated declines in recent weeks, output remains strong compared to recent years. AISI estimated total US raw steel mill output to be 1,769,000 short tons (st) in the week ending Oct. 10 (Figure 1). Production was down 5,000 st (0.3%) from the prior week, driven by a decline in just one of five regions. So far this year, we have seen weekly production rise as high as 1,900,000 st in early September (a six-year high) and fall as low as 1,704,000 st at the start of the year.

Nucor said on Monday, Oct. 12, that its consumer spot price (CSP) for hot-rolled (HR) coil will be $1,240 per short ton (st) this week, a $10/st increase from a week earlier. The CSP for HR coil from California Steel Industries (CSI) on the West Coast will be $1,305/st, up $15/st from the prior week. Nucor is still offering lead times of three to five weeks, according to the letter to customers. You can track mill price announcements on our website. Steel Market Update (SMU) published a weekly price assessment on Tuesday, Oct. 6, showing HR coil prices averaging $1,270/st, up $10/st from the previous week. We will update our prices on the evening of Tuesday, Oct. 13.

Nucor plans to invest $105 million to expand production at its utility towers and structures plant in Crawfordsville, Ind.

Earlier this week, SMU polled steel buyers on topics ranging from market prices, demand, and inventories to tariffs, imports, and evolving market events. Below, we share a selection of the comments we received, in each buyer’s own words.

The United Steelworkers (USW) union has not yet reached a labor agreement with either U.S. Steel or Cleveland-Cliffs.

Domestic raw steel output declined last week, after seeing continued swings over the past several weeks, according to the latest American Iron and Steel Institute (AISI) figures.

The Canadian government has reportedly given Cleveland-Cliffs Inc. five days to respond to a letter from Canadian Industry Minister Mélanie Joly about the Stelco layoffs or face legal action.

CRU Research Principal speaks about the implication of Mesabi Metallics' proposed steel mill in Iowa.

Nucor's consumer spot price for hot-rolled increased by $10/st w/w on Monday, Oct. 5 to $1,230 per short ton.

SSAB Americas aims to increase base plate prices by at least $60 per short ton (st), according to a letter sent to customers on Monday.

Members of the Global Forum on Steel Excess Capacity (GFSEC) met in Wisconsin last week and unveiled an updated plan to combat market-distorting excess capacity. The Milwaukee Framework adds color to the 2017 “Berlin Principles.” It is also a positive step in the ongoing battle against global steel market distortions. However, the Framework is only a guidepost. It must be implemented correctly to make an impact as new problems loom.

As substrate costs continue to rise, Nucor Tubular Products announced a price increase for heavy structural sections (HSS), mechanical, and piling products.

Algoma Steel Group Inc. expects the first heat from its second electric-arc furnace (EAF) in the coming days, even as it forecasts a quarterly EBITDA loss and a 20% decline in shipments.

Nucor said on Thursday evening it plans to increase plate prices by $60 per short ton (st) as it opens its November order book.

Welspun Tubular LLC, the US subsidiary of India’s Welspun Corp., has received an order to supply $412.5 million of high-frequency induction welded (HFIW) steel pipe.

Steel mill lead times continued to expand for sheet and plate products this week, according to buyers responding to our latest market survey.

The overall mill negotiation rate ticked up slightly this week, but the overwhelming majority of buyers are still finding mills inflexible on price, according to our latest survey data.

The latest Manufacturing PMI Report from the Institute for Supply Management (ISM) shows the US manufacturing sector experienced growth in September, albeit at a slightly lower pace than in the month before.

U.S. Steel on Wednesday proposed a new, five-year labor contract to the United Steelworkers (USW) union – one that would run from Sept. 1, 2026, to Sept. 1, 2031, but the USW called the offer a "disappointment."

Canadian Prime Minister Mark Carney has threatened legal action against Cleveland-Cliffs over the layoffs announced earlier this week at its Stelco mill in Hamilton, Ontario.

Canton, Ohio-based specialty metals manufacturer Metallus has been awarded a contract valued at up to $995 million by the US Defense Logistics Agency (DLA), part of the Department of War.

U.S. Steel is investing $28.3 million in its Great Lakes Works in Michigan, with upgrades planned for its pickle line during a 30-day outage starting in October.

Mexico's Construcciones e Ingenierías Electromecánicas SA de CV (CIESA) has emerged as the leading bidder for the assets of bankrupt steelmaker Altos Hornos de México (AHMSA) and its mining subsidiary Minera del Norte (MINOSA). The Michoacán-based engineering and construction company offered $1.4 billion in a court-supervised bankruptcy auction held Sept. 25.

Domestic raw steel output recovered after seeing significant swings in the prior two weeks, according to the latest AISI figures.

President Trump announced that Mesabi Metallics will build the largest steel plant in the US in the state of Iowa.

Stelco Holdings Inc. is indefinitely idling its finishing operations in Hamilton, Ontario. The Canadian steelmaker, a subsidiary of Cleveland-Cliffs, will concentrate steel production at its Lake Erie Works in Nanticoke, Ontario, a Cliffs spokesperson told SMU.

US steel industry groups representing most of domestic steel production are urging the Trump administration to tighten trade measures on steel imports from South Korea. They are seeking a South Korea-specific tariff-rate quota (TRQ) and an investigation into a reported import surge.

Nucor said its consumer spot price for hot-rolled coil will be $1,220 per short ton (st) for the week of Sept. 28. That's a 10/st increase from a week earlier.

A one-month extension of the terms of the current four-year contracts between the USW and the two steelmakers (which was initially set to lapse on Sept. 1) expires on Oct. 1.

US sheet buyers have grappled with supply scarcity in both the spot and contract markets throughout 2026. Now the supply squeeze is spilling over into 2027, according to market participants.