Overview
- The United States produced 82.0 million tons of crude steel in 2025, up 3.1%, surpassing Japan’s 80.7 million tons for the first time since 1999, according to the World Steel Association.
- President Donald Trump raised tariffs on steel and aluminum to 50% in June 2025 after an earlier 25% step, and the import share of U.S. steel consumption fell from roughly 25% early in 2025 to 14% by November, Argus Media reported.
- Demand tied to technology and power projects strengthened, with Commerce Department data showing private data‑center construction spending more than doubled over two years.
- Domestic pricing climbed, with hot‑rolled coil reaching $983 per ton on January 12, near annual highs and reported as nearly double the global export price.
- Industry indicators and moves reinforced the shift, including a 5% year‑over‑year rise in November U.S. steel shipments and Nippon Steel’s $14.1 billion purchase of U.S. Steel alongside Nucor’s plan to complete a new West Virginia sheet mill by late 2026.