U.S. Steel has finally come out with their November and December 2009 flat rolled steel base prices. The mill began informing their customers this morning (Tuesday, September 8) of their intention to increase prices as follows:

Hot Rolled - $30.00/cwt base ($600 per short ton $661 metric ton)

Cold Rolled - $35.00/cwt base ($700 per short ton $771 metric ton)

Galvanized - $36.00/cwt base ($720 per short ton $793 metric ton)

Galvalume - $37.00/cwt base ($740 per short ton $815 metric ton)

What is interesting about the U.S. Steel pricing is it is for TWO months - November and December spot tons - thus admitting the market can no longer take further increases during the late 4th Quarter time frame.

Steel Market Update will have a more detailed analysis of USS and the other mill pricing in this evening's edition of our newsletter. You can register to receive a trial subscription on our website - www.steelmarketupdate.com