Tag: Canada

Canada's Algoma Steel and Roshel Inc. have partnered to form Roshel Algoma Defence (RADS), a sovereign ballistic steel solutions joint venture.

Baker Hughes’ latest report for the week ended April 2 showed the US added five rigs while Canada's count decreased by 11.

Algoma Steel Group Inc. released first-quarter earnings guidance, expecting to report a significant decline in shipments and adjusted EBITDA as the steelmaker continues its transition to electric-arc furnace steelmaking.

The latest count of operational drilling rigs declined in both the US and Canada this week, according to recently released data from Baker Hughes.

North American auto assemblies gained ground in February, up more than 8% vs. January, but still down more than 4% year on year (y/y), according to GlobalData.

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.

US steel exports jumped 33% in January but remain historically low, according to recently released US Department of Commerce data.

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.

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.

Trade for many of the sheet and plate products we follow has fallen to multi-year lows through December.

US hot-rolled coil prices are set to rise year on year in 2026, but the market will face heightened volatility as import flows recover and new domestic capacity comes online, CRU Research Principal Josh Spoores said at this year's Tampa Steel Conference. 

Even folks who had been firmly in what I’ll call the “February peak” camp now seem to agree that sheet and plate prices could move higher for longer than they anticipated.

Steel imports slowed further in December and January to some of the lowest volumes recorded in recent years.

Leaders of the Steel Manufacturers Association (SMA) and the Canadian Steel Producers Association (CSPA) used this year's Tampa Steel Conference to outline the North American steel industry's central challenges: growing pressures, tariff realignments, and the upcoming USMCA review.

North American auto assemblies recovered in January, up nearly 12% vs. December, though down more than 2% year on year (y/y), according to GlobalData.

The latest Baker Hughes rig count report shows steady drilling for oil and gas in the US, while drilling in Canada improved slightly.

The US House of Representatives voted on a resolution on Wednesday, Feb. 11, to disapprove of President Trump's national emergency declaration that led to the imposition of tariffs on Canada. 

I want to say a big thank you to everyone who attended the Tampa Steel Conference. More than 600 people – smashing the record we set last year.

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

November steel exports tumbled 15% from October to the lowest monthly export rate since July 2020.

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

General Motors Canada has laid off ~500 workers at its Oshawa Assembly facility in Ontario, as the plant moves to two shifts of production as of Monday, Feb. 2.

Steel imports remain weak in November and December according to recently released final US Commerce Department data. Many of the sheet and plate products we follow slipped to multi-year lows.

The Tampa Steel Conference will kick off just a few days after the Super Bowl, and I think it’s fair to say that we could be reacting to market developments in real time – again.

There is no evidence that unofficial talks are taking place to secure tariff reductions on Canadian aluminum or steel. One of the biggest challenges is simply understanding what the US actually wants from Canada.

The latest count of operational oil and gas rigs increased in both the US and Canada this week, according to the latest data released from Baker Hughes.

A coalition of US steel industry CEOs has formally urged President Trump to maintain—and fully enforce—current Section 232 tariffs on steel and steel‑containing goods.

President Donald Trump in a post on Truth Social threatened to impose 100% tariffs on all exports from Canada into the US. It would be boastful (but not entirely inaccurate) to say you read it in SMU and heard it on Aluminum Market Update (AMU) first.

If forced to choose between Canada and Mexico, many manufacturers are likely to prioritize Mexico as the more important manufacturing hub.