[Canada industry minister requires Cleveland-Cliffs to submit Stelco jobs plan before meeting]

JSW Steel expects its volumes in the second half of the financial year to be 8 per cent to 9 per cent higher than in the first six months, while price increases and operational efficiencies are expected to help offset higher costs, Chief Executive Officer Jayant Acharya said in a Bloomberg TV interview. Acharya said costs had increased, but the company should be able to offset the pressure through prices and efficiency measures. According to the report, JSW Steel raised prices in September and October, with the revisions expected to support the company as input costs remain elevated. The company is seeking to improve margins through larger blast furnaces, a better raw-material mix and tighter cost management. On raw materials, JSW Steel is pursuing international sources of coking coal and developing overseas coking coal mines, including through a 30 per cent stake in an Australian operation, Acharya said. Construction is under way in Mozambique on a project expected to yield about 11 million tons of hard coking coal, he said. [SMM Iron Ore]

Canada's Industry Minister Mélanie Joly has given Stelco's owner Cleveland-Cliffs 15 days to reverse recent layoff notices affecting the company's operations in Hamilton and Nanticoke, Ontario. Cleveland-Cliffs announced on September 28 plans to lay off up to 500 workers across its operations, citing U.S. tariffs and the difficult market environment. Data from Global Affairs Canada shows U.S. steel accounts for more than half of Canada's imports of galvanized and coated steel, at 54.1% of the 625,726 tonnes imported in the first nine months of 2026. Cleveland-Cliffs attributes the layoffs mainly to what it describes as "dumped" offshore steel imports, saying current trade protections have not sufficiently supported Canadian producers. In a recent letter, Stelco's president likewise attributed the company's difficulties to dumped imports and the impact of U.S. tariffs. Joly pointed to federal measures to curb overseas steel imports, including strict quotas introduced in December 2025, from which U.S. and Mexican imports are exempt; Canada has also recently raised tariffs on certain U.S. steel imports, including galvanized steel. [SMM Iron Ore]

Nucor reported third-quarter 2026 net earnings attributable to stockholders of USD 1.32 billion, compared with USD 607 million a year earlier, according to the company's October 26, 2026 release. Diluted earnings per share were USD 5.80 versus USD 2.63 in the third quarter of 2025. Third-quarter net sales reached USD 11.25 billion, up 32 percent from USD 8.52 billion a year earlier. The company attributed stronger earnings in its steel mills and steel products businesses to higher average selling prices and increased volumes. Raw materials earnings declined on lower pricing and shipments, while higher production costs limited part of the improvement. For the fourth quarter of 2026, Nucor expects earnings to be generally in line with or modestly higher than the third quarter. Steel mills earnings are expected to remain stable as higher realized pricing offsets seasonally lower volumes and higher costs. The board declared a dividend of USD 0.56 per share on September 18, 2026, payable on November 10, 2026, to stockholders of record as of September 30, 2026. [SMM Iron Ore]