Metallus Wins $995 Million Defense Steel Contract; Shares Rise 5%

Metallus Inc. (MTUS) secured a contract to supply steel for critical defense applications, sending shares up 5.43% to $20 in pre-market trading on the New York Stock Exchange on September 29, 2026. The firm-fixed-price, indefinite delivery/indefinite quantity contract with the U.S. Defense Logistics Agency carries a five-year ordering period and a maximum ceiling of $995 million, though that figure does not represent a purchase commitment. Metallus received an initial delivery order under the contract valued at approximately $125 million on September 29. The company produces alloy steel, carbon and micro-alloy steel products.