Steel Mills
Severstal NA Price Increase Letter
Written by John Packard
October 3, 2013
Severstal NA announced on Monday an increase in flat rolled steel base price in line with the ArcelorMittal announcement.
Hot Rolled $34.00/cwt $680/net ton
Cold Rolled $39.50/cwt $790/net ton
Galvanized $39.50/cwt $790/net ton
In the company letter sent to their customers Severstal pointed to steady pace of automotive sales and demand for single family homes as two reasons for its price increase at this time. The company went on to say, “The direction of 2014 appears positive.”
The company says it will continue to offer a firm price option (FPO extra) as well as spot market sales. Options for pricing include: straight index, base plus index change or scrap based. It will no longer offer index minus contracts.
The letter was signed by the new Vice President, Commercial – Sachin Shivaram.
John Packard
Read more from John PackardLatest in Steel Mills
CRU: Tata Steel looks to shed 1,600 jobs in the Netherlands
The company said, “The challenging demand conditions in Europe driven by geopolitical developments, trade and supply chain disruptions and escalating energy costs have affected the operating costs and financial performance."
Reports: Federal funding for Cliffs’ project could be slashed
Elon Musk's DOGE is determining which Department of Energy grants to advance and which ones to terminate, according to several media outlets
Trump still against selling USS to Japanese firm: Report
Despite ordering a new review of Nippon Steel’s bid for U.S. Steel, President Trump said he is still against selling USS to a Japanese company, according to media reports.
Algoma looks to sell more steel in Canada in wake of Trump’s tariffs
The Canadian steelmaker said its absorbing higher tariffs as it moves forward.
Ancora abandons plan to take over leadership of USS
Investment firm Ancora Holdings Group has halted its play for U.S. Steel's board, citing Nippon Steel’s proposed bid for USS “gaining momentum.”