U.S. Steel Stocks Swing Amid U.S.-Canada Trade War

Western Metal Materials announced that the company plans to issue shares to specific investors, raising total proceeds of no more than 1.19 billion yuan. After deducting issuance expenses, the funds will be used for a high-performance rare and precious metal materials production line technical upgrade project, a tungsten and molybdenum materials industrialization project for high-end equipment, a high-performance titanium and titanium alloy precision casting production line construction project, a cold-rolled precision foil and strip production line construction project, and to supplement working capital.

Guangda Special Materials held its 2026 semi-annual earnings briefing online on September 30, responding to questions about artificial intelligence applications, the employee stock ownership plan, product expansion, and raw material price fluctuations. The company's 2026 semi-annual report shows operating revenue of 2.323 billion yuan, down 8.36 percent year on year; net profit attributable to the parent company of 12.34 million yuan, down 93.33 percent; non-GAAP net profit attributable to the parent company of 11.32 million yuan, down 93.67 percent; net operating cash flow of negative 231 million yuan; and a main business gross margin of 13.37 percent, down 7.31 percentage points from the same period last year, mainly affected by reduced new installed capacity in the downstream wind power industry. Regarding the progress of the employee stock ownership plan that investors are concerned about, the company responded that within six months after approval by the shareholders' meeting, the management committee of the employee stock ownership plan will complete the purchase of underlying shares through methods such as buying the company's A-shares on the secondary market, and the company will complete the position building gradually during the building period based on market conditions. On artificial intelligence, the company said the relevant applications are still in the evaluation and testing stage, have not formed large-scale applications, and have no material impact on company performance. In terms of product expansion, the company has passed the international aerospace quality management system certification AS9100D, and its production technology for high-purity superalloy electroslag ingots has been applied in fields such as aircraft engines and gas turbines. Homogeneous fine-grained superalloy forgings have been supplied in batches to aircraft engines, rocket engines, and gas turbines. The aerospace superalloy UNS N07041 has achieved batch supply, and the company has carried out cooperation with relevant customers in the aerospace field and achieved batch supply.

ATI Inc. has raised its adjusted free cash flow guidance for 2026 to US$550–US$600 million, citing higher adjusted EBITDA and stronger operating performance. The company attributed the increase to robust aerospace and defense demand, pricing gains, and targeted investments. The higher outlook points to improved cash conversion, ongoing buybacks, and a more flexible balance sheet, while also raising the stakes on execution against higher EBITDA and operating performance targets. Five Simply Wall St community fair value estimates for ATI span roughly US$165.85 to US$275.