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

Stelco Considering Bid for U.S. Steel: Bloomberg
Canadian steelmaker Stelco Holdings Inc. is now in the mix to purchase U.S. Steel, according to an article in Bloomberg on Thursday, which cited people familiar with the matter.

USS Expects Lower Q3 Earnings, Says UAW Strike Partly To Blame
U.S. Steel expects earnings to drop in the third quarter vs. the prior quarter and the same period a year earlier as the company adjusts production because of the United Auto Workers (UAW) union strike.

SDI to Provide Steel for Mercedes Plant in Alabama
Steel Dynamics Inc. (SDI) and Mercedes-Benz have signed an agreement for the automaker to source 50,000 metric tons of C02-reduced steel for its plant in Tuscaloosa, Ala.

Algoma’s CEO Highlights the Switch to Greener Steelmaking
As the world works to decarbonize and limit greenhouse-gas emissions to reach the goals outlined in the Paris Agreement, many steel companies have joined others in setting their own targets to reach net zero emissions by 2050.
U.S. Steel Idling Granite City ‘B’ Furnace in Response to UAW strike
U.S. Steel said on Monday it plans to temporarily idle blast furnace ‘B’ at its Granite City Works near St. Louis. The Pittsburgh-based steelmaker said it made the move in response to the United Auto Workers (UAW) union strike against “Big Three” automakers Ford, General Motors, and Stellantis. “Following the announcement of UAW strike actions, […]