Prices
October Begins Where September Left Off – Price Increases
Written by John Packard
November 4, 2013
The month of September ended with a bang as NLMK USA became the first mill to announce new flat rolled price increases. As we moved into the first few days of October the other domestic mills followed the NLMK lead – although none of the mills followed the base price levels suggested in the NLMK announcement. Instead ArcelorMittal USA, Nucor and the vast majority of the mills came out with the following base price foundations:
Hot Rolled Coil $680 per ton ($34.00/cwt)
Cold Rolled Coil $790 per ton ($39.50/cwt)
Coated Coil $790 per ton base ($39.50/cwt)
The one defection from the group was AK Steel which followed the ArcelorMittal lead on hot rolled and cold rolled pricing but took their coated base to $40.50/cwt ($810 per ton).
The NLMK announcement called for $33.50/cwt ($670 per ton) base on hot rolled and $38.50/cwt ($770 per ton) on cold rolled and coated.
There were no further announcements regarding spot prices as we proceeded through the end of the month and slipped into the month of November.
John Packard
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