Steel Mills
Severstal NA Counters with $20 per ton Announcement
Written by John Packard
November 7, 2013
Released short after the AK Steel announcement, in a letter to their customers Severstal North America (SNA) increase minimum spot flat rolled steel base prices by $20 per ton. The $20 per ton assessment is based on the difference between the company’s October 1, 2013 announcement and what was announced today.
The letter begins as follows:
“Winter is creeping quickly upon us, but the steel market is getting hotter. Raw materials continue to move upwards, and finished steel bookings have improved significantly in recent weeks. Economic activity in the NAFTA region is strong. However, in response to capacity restrictions and cost pressures from raw materials, we are increasing our base prices as follows”
Hot Rolled $35.00/cwt $700/nt
Cold Rolled $40.50/cwt $810/nt
Galvanized $40.50/cwt $810/nt
The letter went on to advise, “The new prices are effective for all orders not acknowledged or confirmed by Monday, November 11th, at 8 AM Central Time.”
The letter was signed by Sachin Shivaram, Vice President Commercial for Severstal NA.
What was missing from the latest letter was the option Severstal had been making to their customers for a “firm price option” or FPO.
John Packard
Read more from John PackardLatest in Steel Mills
Algoma Extends Iron Ore Purchase Agreement with U.S. Steel
Algoma Steel Group has extended its iron ore purchase agreement with U.S. Steel for another two years.
Cliffs Inks NDA with U.S. Steel, Source Confirms
Cleveland-Cliffs has signed a non-disclosure agreement with U.S. Steel as the latter continues with its strategic review sales process.
Algoma Aims To Ramp Plate Production by Year End
Algoma Steel Inc. plans to ramp up production at its modernized plate mill toward the end of the year. Operations Update The Canadian sheet and plate producer said it in the meantime continues hot commissioning at the upgraded facility and has begun cold commissioning as well. The company said it has also run trials through […]
Nucor Maintains Plate Prices
Nucor Corp. will keep plate prices unchanged with the opening of its November order book.
Sheet Lead Times Mixed, Plate Plummets
While lead times for sheet again had mixed movements this week, those for plate collapsed, according to SMU’s most recent market survey.