Metallus wins $995M defense steel contract, gets $125M initial order

Metallus (NYSE: MTUS), a Canton, Ohio-based specialty steel manufacturer, has been awarded an Indefinite Delivery/Indefinite Quantity contract by the U.S. Defense Logistics Agency to supply steel for defense applications, according to a company statement.

The single-award, firm-fixed-price contract carries a maximum ceiling of $995 million over a five-year ordering period. The company noted that the ceiling represents the maximum amount the agency may order and does not constitute a commitment to purchase that amount.

On Sept. 29, 2026, Metallus received an initial delivery order under the contract valued at approximately $125 million. The company has up to 24 months to fulfill each delivery order issued under the agreement.

Chief Executive Mike Williams said the award reflects the company's ability to produce specialty steel meeting defense performance, quality, and traceability requirements. He added that the steel would be produced entirely in the United States.

Metallus manufactures alloy steel bars, seamless mechanical tubing, and manufactured components from recycled scrap metal. The company employs approximately 1,850 people and reported sales of $1.2 billion in 2025.

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