David Schollaert

North American auto assemblies fell 2.2% from August to 1.314 million units in September, as lower commercial vehicle production outweighed nearly unchanged personal vehicle output, according to GlobalData. After steady gains through Q2, automotive production has been inconsistent, continuing a seesaw pattern. Still, assemblies remain muted and well below pre-pandemic levels. Total production was 4% below September 2025. Still, last month’s production total was 2.7% above 2026’s monthly average of 1.28 million units.

Metalformers’ economic outlook softened in the Precision Metalforming Association (PMA) October Business Conditions Report.

Global raw steel production slowed for the fourth straight month in September, according to the latest figures from the World Steel Association (worldsteel). After falling 3.4% month over month (m/m) in August, the total volume of raw steel produced around the globe ticked down 1.2% to an estimated 142.4 million metric tons (mt) in September. Output was down just 0.1% year over year (y/y). On a 12-month moving average (12MMA) basis, annual production has averaged 149.3 million mt per month across the past year. This was down 1.6% y/y and was the lowest 12MMA since May (Figure 1). Before September 2025, annual output had generally hovered between 152 million mt and 154 million mt for over three years, similar to pre-pandemic levels.

The latest tally of active drilling rigs held steady in the US for a third straight week, while activity rose in Canada this week, according to oil and gas rig count data published by Baker Hughes. The US rig count remained unchanged at 603 rigs this week, maintaining a 17-month high. Compared to this time last year, there are 53 more rigs in operation today. Canada’s count rose by three to 220 rigs this week, recovering after a short-lived easing the prior week. Activity is up compared to the same week of 2025, with 21 more rigs operating today.

BlueScope has announced interim leadership for its North American operations ahead of the departure of Kristie Keast.

Nucor said on Monday, Oct. 26, that its consumer spot price (CSP) for hot-rolled (HR) coil will be $1,270 per short ton (st) this week, up $15/st from last week.

Domestic raw steel production fell last week, dropping to the lowest output since January, according to the latest American Iron and Steel Institute (AISI) figures. The seesaw pattern continued for US production this past week, maintaining a trend seen for the past few months. Fluctuations have been so significant that in just the past two months, output has hit both a six-year high and a six-month low. And despite the week-to-week variations, output has mostly trended lower. Still, despite that overall decline, output to date in 2026 remains strong compared with recent years. AISI estimated total US raw steel mill output to be 1,774,000 short tons (st) in the week ending Oct. 24 (Figure 1). Production was 96,000 st (5.1%) below the prior week, driven by cuts in two of the five regions tracked by AISI.

SSAB Americas delivered slightly lower shipments and operating results in the third quarter of 2026 due to a planned maintenance outage. Still, the company saw strong demand in key US end markets, specifically in heavy industrial segments.

The busy fall maintenance season isn’t over yet. Mill outages have rolled along since September, squeezing an already tight sheet market heading into November and beyond. Another round of scheduled maintenance is approaching, with outages still ahead at North Star BlueScope, ArcelorMittal Calvert, and Nucor Berkeley. Much of the fall maintenance calendar is now in the rearview mirror. September and October outages included U.S. Steel’s Gary Works; Nucor’s Hickman, Decatur, Gallatin and Crawfordsville operations; Steel Dynamics’ Sinton and Columbus mills; Cleveland-Cliffs’ Dearborn hot strip mill; NLMK Portage; and Big River Steel Works.

Lead times for sheet and plate products continued to lengthen amid historically tight supply, according to the latest SMU steel market survey data.