U.S. Steel has broken their silence and put into writing what many were wondering. In a letter from RY Kopf, General Manager of Flat Rolled Product Marketing to U.S. Steel’s General Managers of Sales, the mill broke their silence and advised spot prices on all flat rolled steel products would increase by $40 per ton – effective immediately. As you can see from the text of the memo below, USS also intends to capture all published extras as stated on the mill’s corporate website.

U.S. Steel last “officially” adjusted and published new extras on November 19, 2009 to go into effect January 1, 2010. USS did not officially lower their coating extras for galvanized or Galvalume when other mills reacted to lower zinc costs during the later part of second quarter 2010.

Here is the text of the original memo sent out by Mr. Kopf earlier today (dated August 6, 2010):

“To recognize the impact of increased raw materials input costs and market demand, effective immediately, base pricing for all new Flat Rolled Products spot orders is increased by a minimum of $40 USD per net ton. Pricing extras, as published on our corporate web site, will continue to be applied in full.

Please communicate the details of this increase to our customers. Questions regarding this announcement should be directed to the appropriate NAFR Industry Manager.”

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