Two domestic steel mills have made price announcements within the last few hours. The first to lead was Severstal who emailed a letter to their customers advising of new "minimum" base price levels on all "non-contract" (spot) business.

Shortly after the Severstal announcement NLMK USA put out a letter of their own to their customers advising them of a price increase on all flat rolled products of a minimum of $40 per ton ($2.00/cwt).

Steel Market Update newsletter customers will be receiving more details shortly as we will publish our newsletter this afternoon as originally planned (thank you for the timing of the announcements). You can get more details by signing up for a free trial or by becoming an annual member by clicking the buttons below.