Changing Market Pushes U.S. Steel Mills to Upgrades, Additions

June 20, 2025--Researched by Industrial Info Resources (Sugar Land, Texas)--Steel prices are jumping after U.S. President Donald Trump announced earlier this month that tariffs on imported steel will be raised from 25% to 50%. Steel producers already are preparing for the changing landscape with upgrades and additions at many of their facilities. Industrial Info is tracking more than $630 million worth of active and proposed projects at steel mills across the U.S. and Canada that are set to kick off in the third quarter, more than half of which is attributed to a pair of plant expansions. Companies featured: Vinton Steel LLC, Kyoei Steel Limited, Tenova SpA, BlueScope Steel Limited, Cleveland-Cliffs Incorporated and Nucor Corporation