US Steel Mills Cut Over 1 Million Tons as HRC Hits $1,202.40

2 articles · Updated · Fastmarkets news · Aug 21

1.01 million-1.04 million short tons of US steel output are set to be affected by planned mill outages from September through December 2026, with the biggest hits at US Steel Gary and Big River Steel Works.
21-day and 10-day maintenance shutdowns at major flat-rolled facilities are tightening an already constrained spot market, where some mills have stopped offering spot tons and lead times have stretched to 8-12 weeks.
$1,202.40 per short ton for Midwest hot-rolled coil on Aug. 20 marked the highest level since May 2022, supported by low inventories, stable demand and outage-related supply cuts.
Imports are rising as buyers chase scarce hot band, but market participants said incoming material has not yet materially dented US prices or eased availability.