Key Takeaways August delivered a clear rebound in U.S. carbon steel imports, but the mix of products behind the headline points to a more complicated story than a simple return to higher volumes. Canada and Mexico remain major suppliers to the U.S. market, yet their rolling 12-month shipments have moved...
Key Takeaways Nucor moved its CSP HRC base price this week, and the weekly indicators show a pattern that does not match what the individual headlines suggest. The paid section explains the direction the data points and why. Zinc reached a level not seen in more than four years, but...
Key Takeaways A clear majority of 195 respondents expect hot rolled coil to finish Q2 2027 higher than today, but the split inside that majority reveals a sharper divide than the headline figure suggests. This week's $1,210 benchmark does not sit where many voters appear to assume, and the distance...
Cleveland-Cliffs’ Canadian subsidiary Stelco plans to indefinitely idle its cold rolled and coated steel finishing operations in Hamilton, Ontario, as U.S. tariffs weigh on demand for its products. The operations are expected to begin winding down on October 9, with production concentrated at Stelco’s Lake Erie Works in Nanticoke. Up to 500 Hamilton employees could be affected. Stelco says those workers will be offered positions at Lake Erie Works, while the president of United Steelworkers Local 1005 estimates that about 350 steelworkers will be laid off.
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. The company attributed the pressure to U.S. tariffs and said Canadian measures to limit imports have not closed the resulting gap in its market. Cleveland-Cliffs said the shift will change Stelco’s product mix but will not reduce its overall steel production tonnage.
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.
In the week ending on September 26, 2026, domestic raw steel production was 1,845,000 net tons while the capability utilization rate was 80.5 percent. Production was 1,775,000 net tons in the week ending September 26, 2025, while the capability utilization then was 78.4 percent. The current week’s production represents a 3.9 percent increase from the same period in the previous year. Production for the week ending  September 26, 2026, is up 3.4 percent from the previous week ending September 19, 2026, when production was 1,785,000 net tons and the rate of capability utilization was 77.9 percent.
Adjusted year-to-date production through September 26, 2026, was 70,166,000 net tons, at a capability utilization rate of 79.1 percent. That is up 5.3 percent from the 66,644,000 net tons during the same period last year, when the capability utilization rate was 77.2 percent.
Broken down by districts, here’s production for the week ending  September 26, 2026, in thousands of net tons: North East: 130; Great Lakes: 537; Midwest: 276; Southern: 840; and Western: 62 for a total of 1845.
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.Â
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.
US imports of cold rolled coil totaled 55,843 metric tons in July 2026, down 35.9% from June and 44.5% below the volume imported in July 2025, according to preliminary US Department of Commerce census data. Import value fell to $51.1 million during the month, compared with $81.3 million in June and $97.2 million one year earlier. The decline points to a sharp reduction in imported CRC availability entering the US market during July, both on a monthly and year-over-year basis.
Vietnam was the largest supplier of cold rolled coil to the United States in July, shipping 17,247 metric tons, up from 14,172 metric tons in June and well above the 4,795 metric tons shipped in July 2025. Canada supplied 12,619 metric tons, followed by the Netherlands with 7,233 metric tons, South Korea with 6,629 metric tons, and Turkey with 4,406 metric tons. Despite stronger shipments from Vietnam, total CRC imports fell substantially as inflows from other sources declined during the month.
US slab imports totaled 581,336 metric tons in July 2026, increasing 14.4% from 508,178 metric tons in June, according to preliminary US Department of Commerce census data. Volumes were also 37.1% higher than the 423,970 metric tons imported in July 2025, signaling a notable year-on-year increase in foreign semi-finished steel deliveries. By value, slab imports reached $345.3 million during the month, up from $307.5 million in June and well above the $224.8 million recorded in July last year.
Brazil remained the largest overseas supplier of slabs to the US market in July, shipping 223,892 metric tons, compared with 200,364 metric tons in June. Brazil’s shipments were below the 247,713 metric tons recorded in July 2025, though the overall monthly increase in US slab imports was supported by volumes from other key suppliers. Mexico supplied 96,228 metric tons in July, followed by Indonesia at 72,814 metric tons and Canada at 62,229 metric tons. The rise in slab inflows reflects stronger demand for imported semi-finished material from US mills and processors during the month.
Preliminary US Department of Commerce census data indicates that US steel imports totaled approximately 2.06 million metric tons in July 2026, rising 7.8% from June and edging up 1.2% compared with July 2025. The value of those imports reached about $2.0 billion, increasing from $1.9 billion in the prior month but remaining below the $2.2 billion reported in July last year. South Korea was the largest supplier of imported steel during the month, shipping 504,221 metric tons to the United States. Canada ranked second with 254,195 metric tons, followed by Brazil at 229,535 metric tons and Mexico at 174,489 metric tons. The monthly gain points to a stronger inflow of foreign material after a softer June, although the modest year-on-year increase suggests total import volumes remained relatively close to 2025 levels.
By product category, semi-finished steel imports rose to 625,704 metric tons in July, compared with 559,708 metric tons in June and 490,925 metric tons in the same month last year. Long product imports also increased substantially, reaching 477,565 metric tons versus 370,427 metric tons in June, while pipe and tube imports climbed to 432,164 metric tons from 375,427 metric tons in the previous month. Flat product imports moved lower, however, falling to 448,436 metric tons in July from 525,116 metric tons in June and trailing the 711,500 metric tons imported in July 2025. According to American Iron and Steel Institute estimates, imports represented 17% of the US steel market in July and accounted for an estimated 16% share during the first seven months of 2026.
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.
United States imports of plates in coil fell sharply in June 2026, according to preliminary Department of Commerce census data. Import volume totaled 52,611 metric tons, a decline of 18.2% from May and 37.5% below the June 2025 level. The value of those imports dropped to $34.17 million, compared with $41.14 million in May and $54.70 million a year earlier.
The figures point to a meaningful month-over-month retreat in inbound plate in coil supply, while the much larger year-over-year decline indicates that import activity in June ran substantially below the pace seen during the same month in 2025.
Canada remained the largest foreign supplier of plate in coil to the United States during June, shipping 12,815 metric tons, up from 11,172 metric tons in May but far below the 25,561 metric tons shipped in June 2025.
Origin | June 2026 volume |
|---|---|
Canada | 12,815 mt |
Vietnam | 12,017 mt |
South Korea | 10,917 mt |
Algeria | 4,894 mt |
Brazil | 4,534 mt |
Together, Canada, Vietnam, South Korea, Algeria, and Brazil accounted for the bulk of June’s plate in coil import volume, with Canadian shipments holding the top position despite their significant decline from the prior year.
Why it matters:Â Plate buyers evaluating offshore supply are looking at a materially different origin mix than the one that existed a year ago. Canada retains the top position on volume, but at roughly half its June 2025 shipment level, and the countries filling the next positions are not the traditional set. Sourcing decisions built on last year’s origin assumptions do not match this year’s flows.
Total carbon steel imports increased slightly in July, climbing 6.1% from June to 1.713 million tons. Carbon flat rolled imports declined sharply, however, sliding 22.7% from June to 259,767 tons. July flat rolled imports were down an even sharper 32.4% compared to July 2025.
Within flat rolled, all three product groups saw sharp declines from June:
Cold rolled fell 39.5%, the sharpest decline of the three.
Hot Rolled fell 25.4%.
Coated fell 11.3%.
Within coated, hot-dipped Galvanized imports slipped to a 1,865 tons per day rate, the lowest level in more than two decades.
Year-to-date carbon flat rolled imports of 1.840 million tons are now down 37.2% compared to the first seven months of 2025.
US line pipe imports totaled 55,896 metric tons in June 2026, rising 35.1 percent from May but slipping 1.6 percent from June 2025, according to final US Department of Commerce census data. Import value increased to $57.2 million from $48.8 million in May, though it remained below the $62.8 million recorded a year earlier. South Korea was the leading supplier at 26,398 mt, followed by India with 8,793 mt, Ukraine with 7,145 mt and Mexico with 5,380 mt
Cleveland-Cliffs plans to invest $1 billion to modernize its Middletown Works steel plant in Ohio, a project expected to preserve 2,300 jobs and maintain the operation’s roughly 3 million tons of annual raw steelmaking capacity. The US Department of Energy and Cleveland-Cliffs are each expected to contribute $500 million, with spending planned over the next four years. Steel production is expected to continue during construction, which will include upgrades to the blast furnace, material-handling systems and artificial intelligence-based process controls.wtrf
The investment also includes a cogeneration facility designed to capture blast furnace gas and convert it into electricity and steam for the mill. Cleveland-Cliffs said the system should reduce reliance on externally purchased power and lower operating costs. Work is expected to begin in the coming weeks, with the blast furnace rebuild slated for completion in the first quarter of 2030. More than 1,500 workers, including local union building-trades members, are expected to be involved during peak construction activity.
BlueScope Steel’s North American operations were the primary contributor to the company’s sharply improved financial performance in the year ended June 30, 2026, supported by stronger US steel spreads and full-rate production at its expanded North Star mill in Delta, Ohio. North American and Asian underlying EBIT rose 101 percent year on year to A $1.03 billion, while North Star shipments increased 3 percent to 2.98 million metric tons. BlueScope reported total net profit of A $802 million, up 857 percent from the prior year, and underlying EBIT of A $1.27 billion, compared with A $738.2 million in FY 2024-25.
US imports of hot-dip galvanized sheet totaled 77,277 metric tons in June 2026, down 14.7 percent from May and 41.8 percent from June 2025, according to preliminary US Department of Commerce census data. Import value fell to $81.0 million, compared with $94.5 million in May and $153.5 million in the same month last year, underscoring a sharp year-on-year reduction in both shipment volume and value.
Canada remained the leading source of imported HDG in June at 38,777 mt, narrowly above the 38,270 mt shipped in May but well below the 60,825 mt reported in June 2025. South Korea was the second-largest supplier with 17,526 mt, followed by Austria with 4,813 mt and Pakistan with 3,398 mt. Together, these figures point to a substantial pullback in overall US HDG import activity despite relatively steady monthly shipments from Canada.
US steel imports totaled 1.90 million metric tons in June 2026, down 3.8 percent from May and 6.6 percent from June 2025, according to preliminary US Department of Commerce census data. Import value also declined to $1.9 billion, compared with $2.0 billion in May and $2.1 billion in June last year. South Korea remained the largest foreign supplier at 382,499 mt, followed by Canada at 266,718 mt, Brazil at 221,881 mt and Mexico at 173,736 mt.
By product group, long-product imports posted the largest monthly decline, falling to 370,427 mt from 524,922 mt in May. Flat-product imports edged down to 525,116 mt from 529,400 mt, while semi-finished imports rose to 559,708 mt from 547,431 mt and pipe and tube imports increased to 375,427 mt from 305,676 mt. The American Iron and Steel Institute estimated that imports accounted for 17 percent of the US steel market in June and 16 percent during the first half of 2026.
The US Department of Commerce’s Bureau of Industry and Security has proposed extending Section 232 tariffs on steel, aluminum and copper to 14 additional derivative-product categories. The action follows President Donald Trump’s April 2 proclamation, which gave Commerce and the US Trade Representative authority to add downstream products when imports are found to threaten national security, worsen previously identified risks or undermine existing tariff measures. Commerce said the products under review are predominantly composed of steel, aluminum and/or copper by weight, and that their imports could weaken the objectives of current Section 232 actions.
The proposed list covers a broad mix of industrial, consumer and transportation goods. Products identified include non-lamellar aluminum powder; brass-wind musical instruments and their parts and accessories; welding-machine parts; free-standing floor safes; specified electric conductor cables; fire extinguishers; heat-exchanger parts; and parts for linear-acting hydraulic power engines and motors. The proposal also includes tanker trailers and tanker semi-trailers, other trailers and semi-trailers, self-loading or self-unloading agricultural trailers and semi-trailers, and mobile industrial equipment such as certain self-propelled cranes, mobile lifting frames and straddle carriers. Specific cable classifications named in the notice include HTSUS 8544.49.2000, 8544.49.3040, 8544.49.3080 and 8544.60.4000, while fire extinguishers fall under HTSUS 8424.10.0000 and heat-exchanger parts under HTSUS 8419.90.3000.
Most of the proposed derivative products would generally face a 25 percent tariff if the expansion is adopted. However, several categories would receive differentiated treatment. Self-loading and self-unloading agricultural trailers and semi-trailers would generally be subject to a 15 percent tariff, while certain self-propelled cranes, mobile lifting frames and straddle carriers would be subject to the separate rates applicable to mobile industrial equipment under the June 1 proclamation. Filled steel containers holding propane, oxygen or propylene would generally face a 50 percent tariff, although the duty would apply only to the value of the steel container rather than the value of the gas or chemical inside it. BIS is accepting public comments on the proposal through August 27, 2026.
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