Steel Market Update sources began advising us this afternoon of new pricing levels being offered out of U.S. Steel on hot rolled, cold rolled, galvanized and Galvalume steel. Like ArcelorMittal, U.S. Steel has come out with specific base price requirements by product.

U.S. Steel is asking for the following:

Hot Rolled Steel = $37.00/cwt base ($740 per ton)

Cold Rolled Steel = $42.00/cwt base ($840 per ton)

Galvanized Steel = $42.00/cwt base + applicable extras.

Galvalume Steel = $42.50/cwt base + applicable extras.

As always, these are offers and subject to competitive pressures. Actual transaction prices can vary.

We also heard from our sources Steel Dynamics Industries (SDI) has raised their prices by $40 per ton.

Steel Market Update (SMU) will have more in our newsletter this evening as well as next week as we analyze the negotiations between the domestic mills and their customers.

You can learn more about flat rolled steel prices by either registering for a trial or becoming an annual member of Steel Market Update which includes our newsletter and full access to our website. More information is available on our website: www.steelmarketupdate.com