Category: Region

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

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

MagIron LLC is moving to advance its DR-grade pellet and pig iron strategy. The Minnesota-based company closed on its acquisition of AHMSA's Reynolds Pellet Plant in Indiana on Dec. 31.

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.

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

November apparent steel supply declined 9% or 772,000 short tons (st) from October to 7.61 million st, the lowest measure recorded since February 2021

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

The Dodge Momentum Index (DMI) fell 6.2% in January to 272.7, retreating from December’s downwardly revised reading of 291.0, according to the latest data released by Dodge Construction Network.

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.

SMU’s Steel Buyers’ Sentiment Indices both edged lower this week following the multi-month highs set in mid-January.

GrafTech International closed 2025 with firmer sales volumes and significant cost reductions. But the graphite electrode producer remained deep in the red as global oversupply and aggressive competitor pricing continued to pressure realized prices.

The price gap between US hot-rolled coil and landed offshore product narrowed this week, as price movements stateside and abroad diverged.

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.

US rebar and wire rod prices rose month on month (m/m) alongside continued scrap increases, while merchant bar and structurals were unchanged.

One third of the steel buyers responding to our market survey this week reported that domestic mills are negotiable on new spot order pricing. Mills began to hold a firmer stance on prices towards the end of last year, tightening their grip in early January and holding it since.

SMU's ferrous scrap survey celebrates its one-year anniversary this month.

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.

Since my last column, confidence within the physical market has been restored. However, that does not mean necessarily confidence in the outlook for demand. More so, it's confidence that better pricing is not lurking around the corner. So where do we go from there?  

The US domestic scrap market is largely settled on February pricing. Despite poor weather conditions that have been wreaking havoc on scrap flows and deliveries to consumers, the pricing initially agreed between dealers and steelmakers has been fairly conservative.

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

The United Auto Workers (UAW) and Volkswagen have reached a tentative agreement covering 3,200 workers at the automaker's Chattanooga, Tenn., assembly plant.

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.

The new president of SSAB Americas, Tom Cox, has joined the board of the American Iron and Steel Institute.