Category: Mills

Steel mill lead times extended to multi-year highs on both sheet and plate products this week.

Zekelman Industries reported paying out CA$30,000 (~US$21,845) in rewards to Canadians who reported the use of foreign steel in public works projects.

Nucor expects first-quarter 2026 earnings to be higher both sequentially and on-year, with its steel mills segment logging the largest increase.

Japan’s Nippon Steel has received loans totaling 900 billion yen ($5.6 billion) from Japan Bank for International Cooperation (JBIC) and other Japanese lenders to repay the loan for its buy of Pittsburgh-based U.S. Steel.

U.S. Steel has issued a bid solicitation for the site of its new $4 billion mini mill, and Michigan is in the running, the company’s top executive recently told Crain’s Detroit Business.

Steel Dynamics Inc. expects a sharp jump in first-quarter earnings, driven by stronger steel and recycling margins, steady fabrication results, and continued progress at its aluminum mill.

Raw steel production declined last week for the third-consecutive week but remains historically strong, per AISI.

This week sources said spot prices on hot-rolled coils increased modestly. 

A year after being blindsided by hefty tariffs from its top trading partner, Canadian steelmakers are renewing their call for tariff-free trade between the US and Canada.

Algoma Steel said the Section 232 tariff shock continues to shape its business model. The 50% US duty effectively shut the company out of its largest export market, forcing a structural pivot toward Canada.

Nucor Plate Group notified customers it is increasing prices on all rolled products by $40 per short ton (st) and $60/st on all heat treat products.  

Algoma Steel Inc. added to its mounting losses during the fourth quarter. Sales and shipments plummeted as ongoing trade tensions between Canada and the US force the Sault Ste. Marie, Ontario-based steelmaker to reconfigure its entire business model.

Raw production has trended upwards since the start of the year, reaching a four-year high in February.

Nucor’s consumer spot price (CSP) for hot-rolled coil increased to $1,010 per short ton (st), up $5/st from last week. 

Participants in the US hot- and cold-rolled sheet market cautiously called the week a win as prices inched north and demand picked up.  

Oregon Steel Mills and SSAB Americas announced higher plate prices to close out the week.

US steel shipments increased sequentially and on-year in January, according to the latest data from the American Iron and Steel Institute (AISI).

Grupo Acerero SA de CV (GASA) reported increasing shipments at the end of 2025 as the steel producer ramps up a new slab mill in north-central Mexico.

Nucor announced Wednesday the retirement of Executive Vice President of Commercial Daniel R. Needham, effective June 20.

ArcelorMittal Mexico has replaced the transformer on its No. II electric-arc furnace, increasing casting capacity by 18%.

Domestic raw steel production has strengthened since the start of the year and reached a four-year high in mid-February.

Nucor’s consumer spot price (CSP) for hot-rolled coil increased to $1,005 per short ton (st), up $15/st from last week.

The public bankruptcy auction for the assets of Altos Hornos de Mexico has been postponed.

Sources in the domestic hot- and cold-rolled coil market said they are beginning to feel prices creeping up this week.  

BlueScope Steel has responded to Steel Dynamics Inc. and SGH’s “best and final” offer to take over the steel company. While not outright rejecting a takeover, BlueScope believes the offer is undervalued and remains open to talks.

The total amount of raw steel produced around the world recovered 5.5% from December to an estimated 147.3 million metric tons in January, according worldsteel.

Gerdau’s North American operations closed the fourth quarter of 2025 with another solid performance, according to its parent company’s most recent financial report. Supporting the steelmaker are resilient demand in key end-use markets and a continued rebalancing of domestic supply and imports.

Cleveland-Cliffs has appointed Ralph “Mike” Michael III, former chairman of AK Steel, as lead independent director of its board, effective immediately.

SMU’s Steel Demand Index slipped from earlier in the month, but remains above expansion territory, according to late-February indicators.

The amount of raw steel produced by US mills rose to the highest level recorded in over four years, according to AISI's latest figures.