The Nucor Corporation cyberattack update has taken a turn as North America's largest steel producer has confirmed that attackers successfully stole data during their recent cybersecurity incident
Nippon Steel Corporation successfully completed its $14.9 billion acquisition of U.S. Steel on June 18, 2025
Despite ongoing market fluctuations and recent price increases, Nucor is maintaining its Consumer Spot Price (CSP) for hot-rolled coil (HRC) at $900/ton and $960/ton for California Steel Industries (CSI) for the week of June 23, matching last week’s levels. This price stability follows a $10/ton increase earlier in June and reflects Nucor’s confidence in the market’s ability to absorb higher costs, even as competitors adjust pricing strategies and buyers face uncertainty from new tariffs and shifting demand. With lead times holding steady at 3–5 weeks, Nucor’s decision underscores its strategic approach to balancing supply, demand, and competitive pressures in today’s dynamic steel landscape. 🔩🛠️
ArcelorMittal has officially canceled its ambitious plans to decarbonize two major steel plants in Germany, citing high energy prices and weak market conditions as key obstacles—even after securing €1.3 billion in government subsidies. The company stated that the economic case for hydrogen-based steelmaking, using Direct Reduced Iron (DRI) and Electric Arc Furnace (EAF) technology, is not viable under current conditions, highlighting the urgent need for stronger policy support and more competitive energy pricing in Europe. This setback underscores the significant challenges facing the steel industry’s green transition, as low-carbon hydrogen remains too costly and uncertain to support large-scale production today. ArcelorMittal’s decision sends a clear signal: without further action on energy and trade policy, the path to carbon-neutral steel in Europe remains steep. 🌍
The United States and Canada are approaching a resolution to their ongoing dispute over steel and aluminum tariffs. Recent negotiations have seen both countries consider new measures, including Canada’s announcement of tariff rate quotas and potential adjustments to its own counter-tariffs, in response to the US doubling tariffs on Canadian metals. These talks aim to de-escalate tensions and restore stability to cross-border trade, which has been disrupted by the increased duties. Officials from both sides have expressed optimism that a mutually beneficial agreement will be reached soon, paving the way for normalized trade and reduced costs for industries reliant on steel and aluminum.
6/10/25 – The United States and Mexico are close to finalizing an agreement that would eliminate the current 50% US tariffs on a set volume of steel imports from Mexico, allowing duty-free access as long as shipments remain within historically based limits. The deal, which updates a previous arrangement from Trump’s first term, still requires President Trump’s approval before it can take effect. This move is part of ongoing efforts by both countries to strengthen North American steel supply chains, prevent tariff evasion, and protect the regional market from unfair trade practices.
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