Join Josh, Timna, and John, for a timely discussion on the outlook for U.S. steel markets as prices continue to rise amid falling imports and tightening supply. With hot-rolled coil now above $1,000 per ton, the session will examine how last year’s low pricing suppressed imports, how weekly increases from producers are shaping market behavior, and whether the current shortage will persist or deepen. We will also look at cost curves, the likely sources of future imports, and how supply, demand, and pricing are expected to rebalance in 2027 as more domestic and North American capacity comes online. The discussion will explore the implications of USMCA, 232 tariffs, and the push toward a more “fortress North America” supply model, while also outlining the best commercial strategies for balancing contract and spot purchasing and building inventory in a volatile market.