Steel Market Update is hearing this afternoon that ArcelorMittal (AMUSA) has begun the process of informing their customers (not in writing) of new flat rolled steel prices. Unlike the other mills we are hearing specific base prices attached to AMUSA.

The base prices we are hearing from our sources are: Hot rolled = $36.00/cwt ($720 per ton), cold rolled = $41.50/cwt ($830 per ton) and coated products (galvanized and Galvalume) = $41.50/cwt base + applicable extras ($830 per ton – using a .060” G90 galvanized the transaction price would project out to $888 per ton).

As with any price increase it will take some time to see if any, or all of the price increase "sticks" (is collected by the steel mill). We should know more over the next two weeks.

Steel Market Update began a steel survey earlier this morning. The results from that survey will be published in our next newsletter which will come out on Tuesday evening of next week (Monday is a holiday in the USA).

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