Steelmakers Stelco and ArcelorMittal announced price increases on 5-6 November for their Canadian products.
Both companies raised the price of their Canadian steel products by C$100/short ton (st), in letters sent to customers during the week. The price increases come after months of mounting concern about the state of the Canadian steel industry.
Canadian steelmaker Algoma said in its most recent earnings that Canadian steel pricing was 40pc lower than US pricing levels in the third quarter of 2025, but that tariff costs had significantly restricted access to the previously important US market.
US flat steel prices ranged from $848.50/st to $1,025.50/st during the week of 27-31 October depending on the grade of steel, according to Argus.
Canadian mills sought to bolster domestic operations and profitability as its steel was increasingly cut off from the US market.
Canadian buyers said through the summer and autumn that demand was fairly steady but quiet, however, with some firms focused on simply maintaining operations and employment levels because of the lack of new business opportunities.
