U.S. Steel/Posco (UPI), in a letter to their customers, announced price increases on cold rolled and galvanized steel coming out of their Pittsburgh, California facility. The letter is dated November 11, 2011 and the new prices are to be in effect “immediately.” Below is a copy of the letter UPI sent to their customers:

“Please note that effective immediately, prices for new orders for galvanized and cold rolled sheet products that have not been previously confirmed by your USS-POSCO INDUSTRIES’ sales representative, or by written sales acknowledgement, will be increased as follows:

Cold Rolled Sheets: $40 per t

Galvanized Sheets: $50 per ton

Your USS-POSCO Industries’ sales representative will be available to answer any questions you may have regarding this announcement.”

The letter was signed by Craig Peterson, Vice President, Commercial for UPI.