U.S. Steel Stocks Plummet as Trump Tax Policy Outlook Casts Shadow; STLD, NUE, CLF Fall; ASTL Rises

U.S. steel sector stocks fell sharply on February 13, 2026, as markets priced in uncertainty over potential下调 or撤回 of tariffs on steel and aluminum under President Trump. Steel Dynamics (STLD-US) dropped 3.92%, NUE (NUE-US) fell 3.00%, and Cleveland-Cliffs (CLF-US) lost 3.53%, while Algoma Steel (ASTL) surged over 12% on the same day. The sell-off follows a Financial Times report suggesting the administration may consider rolling back portions of the tariffs to ease domestic inflationary pressures. The White House has not yet commented. Tariffs of 25% on steel and 50% on aluminum were imposed in early 2026. Steel prices, which were under about $800 per ton in early 2026, have risen to over $950 per ton recently. Steel shares outperformed in the past year, with Steel Dynamics up 44.25% and NUE up 36.00% through February 13, compared to Cleveland-Cliffs’s -8.00% gain. Analysts forecast NUE’s 2026 EPS to reach about $12, up from less than $8 in 2025, and note the company hit near-$29 per share in 2022 when prices remained above $1,000 per ton. Aluminum shares also reacted, with Aluminum Companies (AA-US) up 65% and Century Aluminum (CENX-US) over 115% in the same period. If the tariff policy is revised downward, steel and aluminum prices could face回落, keeping the sector volatile until policy direction is clear.