Severstal Hikes Steel Prices by $40 per ton
An internal memo to the Severstal sales force on Wednesday outlined the latest prices for spot flat rolled steel products out of the Severstal mills effective with new orders. Steel prices are up approximately $40 per ton compared to the mills last announcement.
Hot rolled = $34.00/cwt ($680 per ton).
Cold rolled = $39.50/cwt ($790 per ton).
Galvanized = $40.00/cwt ($800 per ton base + extras).
Galvalume = $40.50/cwt ($810 per ton base + extras).
Electro Galvanized = $43.50/cwt ($870 per ton base + extras).
A Severstal spokesperson confirmed the new pricing to Steel Market Update and cited rising raw material costs including scrap as the reason for the new pricing.
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