ArcelorMittal First to Raise Flat Rolled Spot Pricing

Late on Monday afternoon, ArcelorMittal moved to raise spot flat rolled steel pricing. In an email to their customers, AM reported that, “Inventories on sheet products appear to be in balance of slightly lean compared to our second quarter consumption forecast. As a result, we are quite surprised by the recent erosion in pricing that has been reported by customers and reflected in some indexes we monitor.”

The mill went on to say, “Despite the recent drop in scrap prices, energy and transportation costs have skyrocketed and offset any cost benefit in our operations that may be incorrectly perceived.”