With the recent price increase announcement by ArcelorMittal of $60 per ton in North America, the gauntlet has been dropped for the rest of the industry to follow suit. Steel Market Update (SMU) sources are telling us to expect Severstal to follow this week and many other mills who suspended their order book (stopped taking new orders at old prices)will make their price adjustments - some as early as today (Monday, August 31).

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Steel Market Update reported on August 20th the intentions of U.S. Steel to restart their blast furnace at the Hamilton Works facility in Canada. At the time, our sources advised SMU that heat was being blown in the furnace and it would be only a matter of seven to ten days before the furnace would be ready to begin making hot metal. Read more ...

In a letter to their customers, ArcelorMittal fired the first new salvo from a domestic mill raising prices on flat rolled steel orders. Mittal advised their sales staff the new pricing will be in effect on any "new order or commitment."

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U.S. Steel Looking to Start Hamilton Furnace Read more ...

MSCI - Flat Rolled Inventories at 1.8 Months

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On Thursday, August 13th, Nucor Steel announced their anticipated flat rolled steel price increases. In a letter to their customers, Nucor cited "increased order activity and strengthening demand" as the reason for this spot market price increase. The increases are as follows: Read more ...

Steel Market Update (SMU) price indexes Read more ...

The Association of General Contractor's most recent update had an interesting article regarding the U.S. Government's Stimulus program and the affects of the "Buy American" provision. I thought this might be of interest to our readers: Read more ...

Severstal NA Operating as Normal – Disputes AMM Article Read more ...