Tag: Canada

The SMU Steel Summit kicks off on Monday in Atlanta, and we could spend the entire time just discussing trade developments since the last Summit.

Trade talks between the US and Canada collapsed late on Friday, just hours after media reports that an accord was near.

A potential trade deal with Canada and a possible reduction in Section 232 tariffs has rocketed back into the news just a few weeks after it seemed like negotiations between Washington and Ottawa were kaput.

A trade deal between the US and Canada is reportedly pending that could halve Canada’s Section 232 steel and aluminum tariffs and see automobile tariffs lowered from 25% to 15%.

More than 1,200 workers at National Steel Car in Hamilton, Ontario, went on strike last week following the rejection of a contract offer, according to a report by CBC News on Aug. 13.

Algoma Steel Inc. has halted its electric-arc furnace (EAF) in Sault Ste. Marie, Ontario, after an unplanned outage at its Lake Superior Power (LSP) plant.

Some key matters haven't been brought up yet. “We have not begun bargaining over economic issues, including wages,” the USW said in an update to members.

Canadian steel producers will get new help moving material across the country under a federal freight rebate plan launched on Aug. 10.

US steel exports recovered 7% in June, marking the highest monthly rate recorded since January 2025. Despite the recoveries seen over the last six months, trade has been historically weak for over a year and remains weak compared to 2022-2024 volumes.

Russel Metals posted record quarterly revenues and shipments in the second quarter, boosted by strong market conditions and the integration of seven Kloeckner Metals Co. facilities.

Licenses to import steel into the US surged in July to the highest level since June 2025, according to recently released US Commerce Department data. Final June figures show a 3.8% month-on-month decline, while July licenses show a 9% recovery.

The announcements affect two established US commercial vehicle production sites.

Algoma’s CEO touted the company’s plate production and its focus on the Canadian market.

Algoma Steel narrowed its earnings loss by 13.2% in the second quarter as the company's electric-arc furnace (EAF) steelmaking ramped up further.

Hanwha Ocean has not definitively pulled its plans in Canada.

The busy summer for US trade, which we wrote about previously, is heating up with new Section 301 forced labor duties of 10-12.5% imposed on 60 countries and new Section 338 duties of 50% announced on certain Canadian imports.

Cleveland-Cliffs’ top executive said any restart of the blast furnace at its Dearborn Works in Michigan hinges on automakers reshoring more production to the US.

Cleveland-Cliffs Inc. narrowed its losses in the second quarter thanks to increased demand, higher prices, longer lead times, and limited import competition.

Steel exports eased 1% in May and remain significantly lower than trade of previous years.

Monthly steel imports rose back above 2 million short tons (st) in May and June, further recovering from the historic lows seen late last year, according to recent Commerce data.

Some domestic plate market sources expect spot price rises through the end of the year due to prolonged supply constraints.

CSPA says the global challenge of steel overcapacity is no longer simply a trade issue as it looks to the current USMCA review.

Toyota Motor North America plans to invest $3.6 billion to expand its San Antonio manufacturing campus.

Algoma Steel is in talks with ThyssenKrupp Marine Systems (TKMS) following the Canadian government's selection of the German company as the preferred supplier of submarines.

The Canadian government has selected a German firm to build submarines, passing on a contract from a South Korean company linked with Algoma Steel.

Steel trade groups and unions in the US have weighed in on the USMCA review process, as the US announced it would not renew the trade pact in its current form.

Canada’s Varsteel Ltd. has acquired Acier Quebec-Maritimes Inc., a steel and aluminum service center in Riviere-du-Loup, Quebec.

We asked our readers what they thought the outcome of the ongoing USMCA talks might be as far as Section 232 tariffs go. Very few see an elimination of tariffs as likely.

Algoma Steel Group expects lower shipments in its second quarter of 2026 but anticipates adjusted EBITDA to move back into the black.

The US government did not agree to renew the USMCA agreement in its current form, US Trade Representative Jamieson Greer said on Wednesday.