Key Takeaways The weekly Hot-Rolled coil spot increase broke from the incremental pattern that has defined 2026 pricing, matching a move size last seen in early March. The premium on West Coast Hot-Rolled coil widened beyond its historical range, a shift that changes the sourcing math for buyers on both...
Key Takeaways Published steel figures for data centers usually cover a single product, and the rest of the steel inside the fence line is rarely itemized. A complete project draws on carbon, coated, stainless, and electrical steel, and one commonly overlooked support product is formed from coil rather than rolled...
Key Takeaways A base price move from the largest domestic flat-rolled producer arrived this week, and the gap between mills inside that announcement carries a message about where the premium sits. Raw material weakness and tight finished steel supply are pulling in opposite directions, and the way that tension resolves...
US raw steel production totaled 1,870,000 net tons for the week ending October 17, 2026, up 4.1% from 1,796,000 net tons the previous week. Mill capability utilization increased to 80.9% from 77.8% during the same period. Weekly output was also 8.6% higher than the 1,722,000 net tons produced in the comparable week of 2025, when utilization stood at 75.1%.
Adjusted year-to-date production through October 17 reached 75,632,000 net tons, a 5.3% increase from 71,805,000 net tons during the same period last year. Year-to-date utilization averaged 79.1%, compared with 77.0% in 2025. By district, the Southern region led weekly production with 842,000 net tons, followed by the Great Lakes at 520,000 net tons, the Midwest at 313,000 net tons, the Northeast at 131,000 net tons, and the Western region at 64,000 net tons.
US imports of hot rolled sheet totaled 137,058 metric tons in August 2026, rising 63.8% from July and 82.8% compared with August 2025, according to preliminary US Department of Commerce census data. The value of those imports reached $92.1 million, up from $56.6 million in July and $50.8 million in the same month last year. Both shipment volumes and import values recorded substantial increases on a monthly and year-over-year basis.
South Korea remained the largest supplier, shipping 41,310 metric tons to the United States in August. That was down from 49,096 metric tons in July but well above the 9,420 metric tons supplied in August 2025. Japan followed with 25,022 metric tons, while Vietnam shipped 20,920 metric tons and Canada supplied 17,328 metric tons. Brazil and Turkey rounded out the leading sources with 7,773 metric tons and 6,149 metric tons, respectively. The overall monthly increase came despite lower shipments from South Korea
Cleveland-Cliffs reported net income of $165 million in the third quarter of 2026, reversing a $134 million loss in the previous quarter and a $234 million loss a year earlier. Revenue reached $5.6 billion, while adjusted EBITDA rose to $612 million, exceeding the company’s previous guidance of $575 million. Steel shipments increased to 4.15 million net tons, and the average net selling price climbed to $1,177 per net ton, up from $1,124 in the second quarter and $1,032 a year earlier.
The company also addressed its decision to indefinitely idle Stelco’s galvanizing lines in Canada, despite the subsidiary recording its strongest quarter since the acquisition and becoming a positive contributor to adjusted EBITDA. CEO Lourenco Goncalves cited an oversupplied Canadian galvanized steel market and called for further government action. Cleveland-Cliffs said it would maintain Stelco’s total production tonnage and preserve approximately 2,000 Canadian jobs.
US steel imports totaled 2.21 million metric tons in August 2026, up 7.2% from July and 29.8% higher than August 2025, according to preliminary US Department of Commerce census data. The value of August imports reached $2.1 billion, compared with $2.0 billion in July and $1.8 billion in the same month last year. South Korea was the largest source of imported steel during the month, shipping 388,894 metric tons, followed by Brazil with 318,671 metric tons, Canada with 268,097 metric tons, and Mexico with 230,093 metric tons.
Semi-finished steel imports led the monthly increase, rising to 720,240 metric tons from 625,704 metric tons in July and well above the 408,630 metric tons recorded in August 2025. Flat product imports also increased to 587,908 metric tons, up from 448,436 metric tons in July. Long product imports declined to 431,548 metric tons from 477,565 metric tons in the prior month, while pipe and tube imports fell to 390,270 metric tons from 432,164 metric tons. According to American Iron and Steel Institute estimates, imports accounted for 17.5% of the US steel market in August and 16% during the first eight months of 2026.
Anduril Industries and the U.S. Navy plan to build a $6.6 billion, software-run shipyard at the Port of Baltimore to manufacture components for Virginia-class submarines. The facility, called Arsenal-2, will cover 2 million square feet on a 187-acre site and is expected to create more than 3,100 jobs by 2034. Permitting and site preparation are set to begin immediately, with operations anticipated to start in 2030.
Anduril will invest $3.7 billion, while the Navy will provide the remaining $2.9 billion through a contract with payments tied to production outcomes. The company says its ArsenalOS platform will digitally connect fabrication, outfitting, material movement, inspection, and documentation workflows to improve consistency and give managers real-time visibility into production. Anduril plans to scale output gradually as it builds the workforce, supplier network, infrastructure, and production rate needed to support the submarine program.
U.S. Steel is investing $28.3 million to upgrade the pickle line at its Great Lakes Works in Michigan, improving its ability to process advanced high-strength steel. The company announced September 29 that it had accepted delivery of a fiber-optic laser beam welder, with dual-entry shears scheduled for installation during a 30-day outage beginning in October.
The welder joins successive coils to keep steel moving continuously through the line, while the shears trim coil ends before welding and can serve two passlines. U.S. Steel said the upgrades will improve operating efficiency, production reliability and product quality. Employees will also receive 3D virtual training and on-the-job skills development.
U.S. raw steel production totaled 1.801 million net tons for the week ending October 3, down 2.4% from 1.845 million net tons in the prior week, according to American Iron and Steel Institute data. Capacity utilization also declined to 78.3%, compared with 80.5% a week earlier.
Despite the weekly reduction, output remained 4.8% above the level recorded in the comparable week of 2025. Adjusted year-to-date production reached 71.967 million net tons through October 3, with average capacity utilization standing at 79.0%.
Three U.S. companies secured Defense Logistics Agency contracts with a combined announced value of approximately $1.8 billion to supply steel and other metals to the military. Metallus received a $995 million, five-year contract for High Fragmentation 1 steel used in large-caliber artillery and mortar projectiles, running through September 24, 2031. The company received an initial delivery order worth approximately $125 million on September 29.
T&T Materials and TW Metals share a separate $750 million contract for commercially available metal products. That agreement covers an initial two years, with four possible two-year extensions, and drew 18 bids; the Metallus contract was awarded without competition. The announced contract values total $1.745 billion, rounded to $1.8 billion in the article’s headline, and should not be confused with the value of orders already placed.
Source: Yahoo
U.S. Steel has presented the United Steelworkers with a revised five-year labor contract proposal that the company says would deliver 19.3% total wage growth over the agreement’s term, including a 5% increase in the fifth year. The offer would require no health care premiums from USW-represented employees, and U.S. Steel says it has withdrawn its proposal to cap health care costs. The company also describes the offer as including a long-term capital investment commitment intended to protect jobs and strengthen its facilities. These are terms of a proposal, not an agreement reached by the two sides.
The USW bargaining committee was scheduled to review the new offer Wednesday afternoon, but had not publicly responded when the report was published. Union representatives have recently said significant differences remain in negotiations. USW-represented employees continue working under the contract that expired September 1 while talks proceed. A new agreement would cover thousands of workers at U.S. Steel operations nationwide, including roughly 2,000 at the Minntac and Keetac iron ore mines in Minnesota.
Source: USS
Stelco plans to indefinitely idle its cold rolled and coated steel finishing operations at Hamilton Works in Ontario, with the wind-down expected to begin October 9. The Cleveland-Cliffs subsidiary said U.S. tariffs have reduced demand for those products and that production will be concentrated at its Lake Erie Works in Nanticoke. Up to 500 Hamilton employees could be affected, although Stelco says it will offer them jobs at Lake Erie Works. The president of United Steelworkers Local 1005 estimates that about 350 steelworkers will be laid off. Cleveland-Cliffs said the change will alter Stelco’s product mix but will not reduce its overall steel production tonnage.
The announcement drew a sharp response from Canadian Prime Minister Mark Carney, who called Stelco’s decision a betrayal of workers and said the government would pursue Cleveland-Cliffs “to the full extent of the law.” Carney’s statement signals a possible legal response, but it does not establish that a case has been filed or that the company violated any obligation. Stelco said demand for its cold rolled and galvanized products in traditional markets fell nearly 25% in the second quarter of 2026 compared with the 2024 quarterly average, including a 10% decline in Canada.
Source: Bloomberg
ArcelorMittal says it cannot safely restart operations at its Kryvyi Rih steel plant in Ukraine following repeated missile strikes. The facility was hit four times over five weeks, most recently on September 21, causing extensive damage to production equipment. The attacks killed five people and injured 17 employees, including one who remains in critical condition.
The company is discussing the plant’s future with the Ukrainian government and is focusing on preserving its infrastructure so production may be able to resume when conditions allow. ArcelorMittal expects to record a non-cash impairment charge of approximately $1 billion, primarily tied to the facility’s property and equipment. Since the war began in February 2022, the company says it has provided more than $700 million to support operations and employees in Ukraine.
U.S. Steel has rejected a comprehensive contract proposal submitted by the United Steelworkers, leaving the two sides still divided as negotiations approach a September 25 target date. The USW says its proposal addressed key priorities including wages, health care, job protections, retirement, and investment commitments at union-represented facilities. The current labor agreement, which had been scheduled to expire September 1, was extended for 30 days to allow bargaining to continue.
Health care remains one of the central unresolved issues. The union has said U.S. Steel continues to pursue changes that could shift a larger share of medical costs to employees, while also objecting to proposed changes in successorship language that protects pay, benefits, and contract terms if ownership changes. U.S. Steel’s July proposal included a five-year agreement, annual wage increases that would compound to 18.2% by the final year, and a $4,000 ratification bonus for eligible workers. The company has said its goal is to reach an agreement that recognizes employees’ contributions and supports the long-term future of the company and its workforce.
US steel service center shipments increased 11.6% in August 2026 compared with the same month in 2025, according to MSCI Metals Activity data. The gain reflects a stronger August for US steel distribution activity and marks a significant year-over-year increase in material moving through service center channels.
The August result indicates improved demand across the US steel service center market as distributors and customers took in higher shipment volumes than they did one year earlier. The increase provides a positive signal for steel consumption through the distribution sector heading into the fall, though the report does not break out performance by specific steel product category or end-use market.
Canada’s retaliatory tariffs on approximately C$27.6 billion worth of U.S.-origin imports took effect at 12:01 a.m. Tuesday, September 8. The measures apply to 629 tariff classifications and impose duties of 15%, 25%, or 50%, with the rate generally designed to match the U.S. tariff applied to the corresponding Canadian product. The action follows the breakdown of Canada-U.S. trade negotiations and Washington’s 50% tariffs on a broad range of Canadian exports. Goods that were already in transit to Canada when the measures began are exempt.
The highest 50% rate applies to major industrial and consumer-product categories, including U.S. steel, aluminum and iron products, certain dairy products such as milk, cream and whey, plastics, paper and pulp products, cosmetics and beauty products, furniture, clothing, motorcycles, smartphones and some other electronics. A 25% tariff applies to goods including cheese and curd, household appliances such as refrigerators and washing machines, softwood lumber, carpets and some steel derivative products. The 15% tier covers selected agricultural and industrial goods, including certain farm equipment, forklifts, industrial molds, HVAC equipment and other targeted imports. Existing Canadian counter-tariffs on U.S. automobiles, including a 25% tariff, remain in force separately from today’s new measures.
U. S. Steel has returned Blast Furnace No. 14 at Gary Works in Indiana to service following a $350 million reline and modernization project. The furnace, the largest at Gary Works and across U. S. Steel’s domestic operations, can produce more than 2 million metric tons of hot metal annually, strengthening the company’s ability to supply steel customers and support U.S. manufacturing demand.
The project involved replacing the furnace’s refractory lining and restoring critical systems for furnace gas handling, cooling water, hoisting and hot-blast stoves. More than 1 million labor hours were completed by employees, contractors and project partners, with no days-away injuries recorded during the work. U. S. Steel said the investment is intended to improve operating reliability, support safe production and extend the productive life of the No. 14 furnace.
The United Steelworkers announced that work will continue at U.S. Steel and Cleveland-Cliffs under 30-day extensions of the companies’ current basic labor agreements. Reached as the agreements approached their September 1 expiration, the extensions maintain current contract terms and avert an immediate work stoppage while negotiations continue. The arrangement is an extension of the bargaining process, not a tentative agreement or a final settlement.usw
The USW said its negotiating committees will remain at the table with both companies to pursue new agreements covering represented employees. The union did not release specific details on outstanding proposals involving pay, benefits, pensions, investment commitments, or job security, nor did it set a target date for reaching new contracts. The additional month nevertheless creates a defined window for the parties to continue discussions without disrupting operations.usw
Cleveland-Cliffs separately said it respects the USW and the ongoing bargaining process, and that it remains committed to reaching an agreement that supports both its workforce and a competitive, sustainable business. Cliffs’ existing agreement was extended until October 1. U.S. Steel did not appear to issue a separate public announcement detailing its position on the extension; the USW’s release remains the clearest public statement covering both companies’ agreement to continue bargaining and maintain operations during the 30-day period.
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