The below US Steel price announcement was sent today to the General Managers of Sales from RY Kopf, General Manager North American Flat-rolled Marketing. The letter said:

"Despite both North American and global raw material costs that continue to escalate, spot transaction prices have deteriorated in contrast to end user demand fundamentals which remain firm and/or forecasted to increase. This dynamic has created an unsustainable condition.

Effective immediately, base pricing for all new Flat Rolled Products spot orders is increased by a minimum of $60 USD per net ton. This increase is applicable to all open quotes and/or negotiations where an agreement is yet to have been concluded. 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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