The second-quarter profit and loss reports from the largest U.
S. steel companies paint an optimistic picture for the domestic steel sector, and most of them forecast positive dynamics in the second half of 2026.
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The increase in supplies and selling prices was implemented by most manufacturers between April and June, while further growth is expected to support profits in the current quarter. According to a study by MEPs for the International Steel Report, the fall maintenance season for manufacturers in the United States may play a crucial role in the short term, as supply cuts will provide additional support to steel prices in the United States.
Cleveland-Cliffs, Nucor, and Steel Dynamics have released earnings reports for the two quarters of this year, while Nippon Steel, Gerdau, SSAB, Bluescope, and JSW Steel have reported their financial results in recent weeks.
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,Nucor and Steel Dynamics reported record quarterly steel shipments. Nucor shipped about 7.1 million tons of steel per year from its steel mills, which was the second consecutive quarterly record, while Steel Dynamics reported record steel shipments of 3.74 million tons. Leon Topalyan, CEO of Nucor, partially attributed the company's performance to investments in key U.
S. industries and favorable U.
S. trade policy. In recent years, both companies have also invested heavily in the construction of new steelmaking facilities in the United States. Nucor and Steel Dynamics are the largest and third largest steel producers in the United States.
andCleveland-Cliffs, which has struggled to make a net profit over the past two years, also reported improved performance. The second largest steel producer in the United States reported that its shipments in the third quarter reached a record high of more than 4.3 million short tons. Gerdau, a major producer of long products in the United States, also reported record shipments of long products from its North American plants.
"Steel production in the United States is growing as the American market has the highest prices in the world, and American steel mills are showing the best financial results since 2022," said Laura Hodges, an analyst at the American steel market and a member of the European Parliament.
Japan's Nippon Steel has significantly raised its profit expectations for the sale of US Steel, helped by higher steel prices in the United States, improved operations and increased new capacity. As noted in recent reports by members of the European Parliament, many other international manufacturers