Brazilian steelmaker Gerdau’s North American operations posted higher profits in the third quarter as shipments increased. The company posted adjusted EBITDA of 2,912 million reais (USD$567 million) in the third quarter ended Sept. 30 for its North American operations, up 60% from 1,820 million reais from a year earlier. Net sales rose 14% to 10,512 million reais in the same comparison.
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.
CMC’s earnings increased in its fiscal fourth quarter, aided by strong growth in its North America Steel Group. The Irving, Texas-based longs steel producer and metal solutions provider reported net earnings of $212.5 million in its fiscal fourth quarter ended Aug. 31, up 40% from $151.8 million a year earlier. Net sales rose 26% to nearly $2.66 billion in the same comparison. The company said that core EBITDA growth increased 11.3% sequentially in its fiscal Q4 to $393.7 million, led by its North America Steel Group. In that segment, stronger margins and volume growth drove 60 basis points of core EBITDA margin expansion.
Nucor and Gerdau have announced price increases for merchant bar quality (MBQ) products. The Nucor Bar Mill Group informed customers on Oct. 8 that it was raising prices on all MBQ products by $30 per short ton (st). The move is effective for new orders received after the close of business on Oct. 8. “All confirmed orders as of the close of business on October 8th, 2026 will be price-protected if shipped by end of business day, October 22th, 2026,” Nucor noted in a letter to customers.
Steel imports into the US crept higher in August and continued climbing in September, according to the Department of Commerce's latest import license data. August imports rose 3.4% from July to a 15-month high. September license data collected through Oct. 5 shows another 6.2% month-on-month increase. Imports continue to recover from some of the lowest levels since 2020, seen late last year through February this year.
Canton, Ohio-based specialty metals manufacturer Metallus has been awarded a contract valued at up to $995 million by the US Defense Logistics Agency (DLA), part of the Department of War.
ArcelorMittal told the government of Ukraine that it is unable to restart operations at its ArcelorMittal Kryvyi Rih steel plant in a “safe and sustainable manner” following Russian missile attacks.
In the trade case investigating subsidized wire rod imports from Algeria, the Commerce Department set final subsidy rates and officially issued the countervailing duty (CVD) order.
Long steel producers are seeking to raise prices for merchant bar quality (MBQ) products.
Rocky Mountain Steel Mills and the United Steelworkers (USW) union have reached a new five-year collective bargaining agreement.
Talleres y Aceros SA (Tyasa) has started up its new 350,000-metric-ton-per-year SBQ facility in Ixtaczoquitlán, Veracruz, Mexico.
Gerdau reported stronger results from its North American operations in the second quarter, with EBITDA up 15% from the prior quarter on firm demand and high asset utilization.
The US Department of Commerce has set final duties in the trade case investigating rebar imports from Vietnam, Egypt, and Bulgaria.
Chinese steel maker Jingye insisted that the British government halt its takeover of longs producer British Steel.
Orion Steel has appointed Todd Ptacek as its new president.
Rocky Mountain Steel Mills said that Union Pacific Railroad received the first stick of rail from the steelmaker’s new long rail mill in Pueblo, Colo.
Wire rod imports from Algeria face new countervailing duties (CVDs) in the US.
Rebar imports from Algeria are now subject to stiff countervailing duties (CVDs).
CMC’s profits more than doubled in its fiscal third quarter.
Grupo Acerero SA de CV posted higher shipments and stronger profitability in the first quarter of 2026.
Long products from Algeria are facing the wrath of the US legal system.
Gerdau’s North American operations reported increased profits in the first quarter on higher prices and shipments.
Rocky Mountain Steel Mills has signed a new seven-year contract with Union Pacific Railroad for the domestic production of steel rails.
A coalition of US wire rod producers has filed a petition seeking countervailing duties on carbon and alloy steel wire rod from Algeria.
CMC’s fiscal second-quarter earnings more than doubled on strong underlying market conditions across all its segments.
Steel imports remained close to multi-year lows in January and February, according to US Commerce Department data released this week.
Chinese steel export prices and Turkish longs export prices increased this week due to higher energy and raw material costs. In India, HR coil exports remained paused amid the Middle East crisis.
The main impact on the ferrous value chain from the Middle East conflict will be the higher energy costs in a prolonged scenario.
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.
Steel imports slowed further in December and January to some of the lowest volumes recorded in recent years.