More Steel Mills Respond to USS Flat Rolled Price Increaase
The U.S. steel industry is responding to the U.S. Steel flat rolled price increase announcements. We have been advised of new announcements out of NLMK Indiana, NLMK Pennsylvania, Sharon Coatings and California Steel Industries. Other mills are sitting back and waiting.
California Steel Industries (CSI), in a letter to their customers dated August 10, 2011, advised their customers, “Due to changes in market conditions CSI is advising customers that we are increasing the price of all flat rolled product categories by $60/nt effective with new orders received on or after Monday August 15, 2011….” The letter was signed jointly by Jim Marovich and Al Plummer.
NLMK Indiana, Pennsylvania and Sharon Coatings announced a $60 per ton price increase through an internal memo to their sales group.
CSN (Terre Haute, IN) has advised SMU they are almost sold out of September and will wait and see where the market is when lead times reach October (coated products).
We expect more mills to follow the USS lead as the week progresses and we will have complete coverage in our Steel Market Update newsletter. You can get a free trial or subscribe by clicking on the links below.