The US International Trade Commission (ITC) has voted unanimously to keep anti-dumping and countervailing duty orders on welded line pipe from South Korea and Turkey in place for another five years.
Alro Steel has opened a new location in Van Buren, Mich., outside Detroit.
In this week's Market Chatter, steel buyers point to tight supply and steady demand as reasons sheet prices could keep rising, with many expecting HRC to reach $1,400-1,449 per short ton in two months. Views on when the rally will peak are mixed, with some anticipating further increases while others mention softening demand and political uncertainty. Respondents also disagree on tariffs' impact. They say reshoring is generating activity but has yet to translate consistently into demand.
ArcelorMittal Calvert is progressing on the construction of its new $1.2-billion non-grain-oriented electrical steel (NGO or NOES) mill, with production slated to begin in 2027. The steelmaker reported in its third-quarter earnings that it's on track with the 150,000-metric-ton-per-year project, located adjacent to its existing sheet mill in Calvert, Ala. In a Nov. 11 stakeholder newsletter, ArcelorMittal said the electrical steel production lines are taking shape: an annealing and pickling line on the west side of the mill and an annealing and coating line on the east side.
Final import data for September from the US Commerce Department shows a slight decline from August’s 15-month high. And October’s license count suggests another month-on-month (m/m) decline in imports. September imports of 2,416,717 short tons (st) were down just 1% from 2,434,108 st in August, a 15-month high. October license data show a steeper 8% m/m fall to 2,214,730 st (Figure 1, left). August appears to have been the peak for the recovery in imports, which has been ongoing since February of this year, when we saw some of the lowest levels since 2020.
Imports of tin mill products from Taiwan and Turkey face new anti-dumping duties (AD) in the US after a key Commerce Department determination. In the trade case investigating allegedly dumped tin mill products, Commerce preliminarily determined that tin mill products from both countries are being sold below fair value.
Trade enforcement measures, including tariffs, should remain a bipartisan priority as a new Congress takes shape, speakers said during an event marking the release of a new report from the Alliance for American Manufacturing (AAM).
ArcelorMittal expects North American steel shipments to be flat sequentially in the fourth quarter, as recovery from Canadian and Mexican disruptions is expected to be offset by normal seasonality and maintenance. The company reported third-quarter shipments of 2.645 million metric tons, down 6.6% sequentially but up 1% year over year (y/y). It attributed the shipment decline primarily to lower long product volumes. North America sales were nearly $3.7 billion in Q3’26, nearly level with the previous quarter but 11% higher y/y. Average selling prices rose 5.7% sequentially to $1,228 per metric ton (mt).
Algoma Steel has secured a contract to supply up to 24,000 metric tons of structural steel plate for Seaspan Shipyards’ Canadian Coast Guard icebreaker program. The agreement, valued at about $182 million Canadian, covers steel for up to six multi-purpose icebreakers, at ~4,000 metric tons per vessel. Algoma will produce the plate, with Stigterstaal Canada serving as the marine steel processing and distribution partner. The order is the largest polar-class steel order in Algoma’s history, according to the companies.
The US Department of Commerce recently made adjustments to the anti-dumping duties (AD) on certain steel pipe and tube imports after annual administrative reviews, according to notices in the Federal Register. Commerce reviewed the AD order on imports of oil country tubular goods (OCTG) from Mexico and lowered the dumping rate for one company. Tubos de Acero de Mexico received a 1.87% dumping rate for the year ended Oct. 31, 2024. The rate is down notably from 26.1% in the previous year. The all-others cash deposit rate remains set at 44.93%.
After an annual administrative review, the US Department of Commerce is adjusting the countervailing duties (CVDs) on imports of cut-to-length carbon-quality steel plate from South Korea. For the 2024 calendar year, Commerce set CVDs of 1.89% for Dongkuk Steel Mill and 1.39% for Hyundai Steel, according to a Federal Register announcement. The rates have changed slightly from the prior year review: Dongkuk's is down from 2.21% and Hyundai's is up from 1.31%. The cash deposit rate for all other companies remains 3.26%.
Ternium SA expects a modest seasonal decline in consolidated steel shipments in the fourth quarter, but sees Mexico revenue per ton continuing to rise with North American steel price trends. The outlook came as the company released its third-quarter earnings report and prepares to start steel shop production at its new Pesqueria slab mill in February. “We are seeing a strong demand in Mexico … strong demand in the US,” CEO Maximo Vedoya said on a conference call on Wednesday to discuss the quarterly earnings. Ternium reported Q3’26 net income of $368 million, compared with $465 million in Q2’26 and a $270-million loss in Q3’25.
Gerdau announced on Nov. 2 that it will raise special bar quality (SBQ) prices by $60 per short ton ($3/cwt). The increase is effective for all new orders and shipments starting Jan. 1, 2027, according to a letter sent to customers. It applies to all hot-rolled carbon and alloy SBQ products, including rounds, squares, flats, special sections, and thermally processed products.
Metallus reported improved year-over-year profitability in the third quarter, but expects seasonal softness and planned maintenance to weigh on fourth-quarter results. The specialty metals producer pointed to continued demand and a new defense contract as supports for growth.
The US Department of Commerce has determined sizable dumping rates against Austria, Taiwan, and the United Arab Emirates in the trade case investigating imports of oil country tubular goods (OCTG). Recall the dumping investigations and a companion subsidy investigation were launched in April at the request of the US OCTG Manufacturers Association (USOMA), U.S. Steel, and the United Steelworkers.
Buyers in SMU’s latest Flat-Rolled Steel Survey increasingly expect hot-rolled (HR) coil prices to keep climbing into year-end and beyond. But competitive import offers have not yet eased concerns about tight availability: most surveyed manufacturers and service centers said foreign suppliers were quoting competitive prices, while many service centers said they were still buying imports to secure additional tons. As of Tuesday, Oct. 27, current spot prices for HR coil range from $1,280 per short ton (st) to $1,330/st, averaging $1,305/st, according to SMU’s market survey. Looking two months ahead, 41% of respondents to our Oct. 28 survey expected HR coil prices to be $1,300-1,349 per short ton (st) in two months, down from 47% in our survey two weeks earlier.
In this week's Steel Market Chatter, we explore manufacturing and service center buyers' comments about demand, prime scrap, the Iran War, and expectations for Section 232 tariffs in USMCA negotiations. We'll share a selection of the comments we received in each buyer's own words. Dive in with us into the results and findings of our latest Flat-Rolled Steel Survey.
The Chicago Business Barometer slipped in October but remained in expansion for a second month. The Barometer reading from ISM Chicago and MNI Indicators came in at 55.3 in October, down 3.5 points from September but up 8.2 points from contraction in August. The Barometer is a diffusion index. Readings above 50 indicate improving business conditions. Those below 50 indicate a contraction in activity.
Ryerson Holding’s third-quarter sales and net income rose as shipments outperformed the company’s seasonal expectations. Management pointed to demand from data centers and power generation projects, gains in transactional business, and improving contract volumes, while describing demand across end markets as uneven. Chicago-based Ryerson’s latest earnings report released on Thursday shows third-quarter sales rose 8.6% sequentially to $2.18 billion. Shipments rose 1.2% despite the company's guidance for a seasonal decline. Net income attributable to Ryerson was $32 million, compared with $15.5 million in the second quarter. Compared with last year, sales were 87.5% higher and net income rose 316.2%.
Audi announced plans to invest $4 billion to build its first US production plant in Georgia, creating ~4,500 jobs. Construction is scheduled to begin in 2027. The facility is designed to produce up to 200,000 vehicles annually, with production expected to start in the early 2030s.
Cleveland-Cliffs Chairman and CEO Lourenco Goncalves said Stelco is not for sale, but he might sell it after operating the company for a period. He said he had come to understand that he was unwelcome in Canada. Separately, in a statement to SMU on Wednesday, Goncalves said he would consider a sale only after Stelco records one year of higher production and brings back all laid-off workers. He clarified it was 175 workers, not 500. He also said he would speak with no potential buyers “real or imaginary” now or during the next calendar year.
SunCoke Energy’s third-quarter revenue edged down to $485.9 million. Lower blast coke sales volumes and lower coal-price pass-throughs on long-term, take-or-pay agreements weighed on revenue. Higher terminals handling volumes and one additional month of Phoenix Global results partly offset the declines. Net income attributable to SunCoke was $21.8 million, compared with $22.2 million a year earlier. The Lisle, Ill.-based company expects 2026 consolidated adjusted EBITDA to modestly exceed the top of its $250 million to $265 million guidance range. Third-quarter consolidated adjusted EBITDA rose $17.8 million year over year (y/y) to $76.9 million.
United States Steel Corp. plans to break ground on its direct-reduced iron (DRI) production facility in Arkansas this week. The Pittsburgh-based steelmaker will hold a ceremonial groundbreaking on Friday morning, according to a media advisory sent to SMU. The DRI facility will be located next door to the Big River 2 steel plant in Osceola, Ark. U.S. Steel said the new facility will utilize iron ore sourced from the company’s Minnesota Ore operations. BRS2 will transfer hot DRI to its two electric-arc furnaces to produce steel for the automotive, solar, packaging, and construction industries.
Nucor expects steel mill shipments to grow closer to the upper end of its 5-10% range in 2026, President and COO Steve Laxton said on the company’s third-quarter earnings call on Tuesday. He cited demand from infrastructure, reshoring, digital infrastructure, and energy investment as demand drivers. A presentation released with the company’s Q3’26 earnings report said manufacturing construction spending remained near $170 billion annually, with activity broadening beyond chip plants to include power equipment, aerospace and defense, pharmaceuticals, and automotive. Data center construction spending doubled from 2024 to 2026, with a 20% compound annual growth rate projected through 2031.
Nucor has been awarded an entire General Motors platform for exposed automotive sheet, Chair and CEO Leon Topalian said on a call Tuesday discussing the company’s third-quarter earnings. Topalian described the award as a breakthrough for Nucor in a product area he said integrated steelmakers had long dominated. Nucor plans to shift related process engineering and quality control work to its new West Virginia sheet mill as the facility ramps up, Topalian said. He said the mill would be capable of producing high-end automotive steel. Noah Hanners, executive VP of sheet products, said West Virginia automotive tons would begin customer qualifications in 2028.
JSW Steel’s US operations reported higher EBITDA in the second quarter of FY 2026-27, as improved sales realizations offset lower production at its Ohio and Texas facilities. The company's electric-arc furnace (EAF) facility in Ohio produced 224,933 short tons (st) of slabs in the quarter, at 62% capacity utilization. Slab production fell quarter over quarter, primarily because of a scheduled shutdown for electrical upgrades and maintenance, the company said. Sales were 112,663 st of slabs and 91,198 st of hot-rolled (HR) coil. EBITDA rose 22% q/q to $5.85 million, driven by better sales realizations, which partly offset the effect of lower volumes.
Australia’s BlueScope has raised its earnings outlook for the first half of fiscal 2027, citing stronger-than-anticipated performance at its North Star BlueScope mill in Ohio and improved results across several other businesses. The Melbourne-based company said in earnings guidance on Monday that it expects its North American businesses to deliver earnings about two-thirds higher than in the second half of fiscal 2026. North Star is forecast to perform nearly three-quarters better than in that period, when it reported EBIT of AU$484 million (US$339.8 million). BlueScope attributed the North Star uplift primarily to stronger benchmark spreads.
Wheeling-Nippon Steel has appointed Matt Caprarese as vice president of manufacturing. His appointment was effective Oct. 14, the company said in a LinkedIn post. Caprarese most recently served as VP of engineering, HSSE, sustainability, and plant services at JSW Steel, overseeing operations in Mingo Junction, Ohio, and Baytown, Texas. He previously held positions at ArcelorMittal and United States Steel. “With a strong background in Maintenance, Environmental and plant services/utilities, Matt brings valuable industry knowledge and leadership experience to his new role,” the company said. “We look forward to Matt's leadership in strengthening our manufacturing operations, supporting operational excellence, and contributing to the continued success of Wheeling-Nippon Steel.”
Steel production is set to return to California next year. Pacific Steel Group broke ground on its Mojave Micro Mill in Kern County, just outside Los Angeles, earlier this year. It marked what California Governor Gavin Newsom recently touted as the first steel mill to break ground in the state in more than 50 years. The plant is scheduled to begin commissioning in the first quarter of 2027, and the project is expected to create ~700 jobs. Before Pacific Steel, the last mill to break ground in California was the Kaiser Steel plant in Fontana, 50 miles outside of Hollywood. The plant was built to supply the World War II effort and began operating in 1942. It eventually shut down in 1983. Today, the site is home to California Steel Industries (CSI), a joint venture between Nucor and JFE Steel. CSI is a reroller and does not melt its own steel.
GrafTech International continues to expect modest growth in graphite electrode demand for the full year of 2026. The company reaffirmed its expectation of a 5-10% year-over-year increase in graphite electrode sales volume as it seeks to gain market share. “Overall, we continue to see improving trends across several of our key regions,” CEO Tim Flanagan said on a conference call Friday to discuss its third quarter results.